C.H.I. Overhead Doors Distributes Equity Dividend Proceeds to All Employees, First Ever Program of Its Kind at Company

Announces Expansion of Relationship with Homes for Our Troops

ARTHUR, Ill.–(BUSINESS WIRE)–C.H.I. Overhead Doors (C.H.I.), a North American manufacturer of
residential and commercial garage doors, today announced a distribution
to its equity owners, and through a unique equity participation program
designed by KKR, C.H.I.’s private equity partner, each of C.H.I.’s
approximately 700 employees received proceeds. Additionally, C.H.I. is
also proud to announce an expansion of the company’s relationship with
one of its charitable partners, Homes for our Troops (“HFOT”).


When KKR acquired C.H.I. in 2015, they designed an equity participation
program that included all C.H.I. employees – the first of its kind in
the history of the company. Since that time, the C.H.I. team has grown
the business by delivering a market-leading experience for their dealer
partners, which has in turn increased the value of C.H.I. and the value
of each employee’s ownership stake. Today marks the first distribution
on the equity program designed by KKR and a major milestone on C.H.I.’s
journey of continuous improvement aimed at delivering “A Better
Experience” for customers.

Also concurrent with KKR’s investment in C.H.I. was their facilitation
of the partnership that now exists between C.H.I. and Homes for our
Troops – a non-profit organization focused on providing housing for our
Nation’s Veterans. C.H.I. is proud of the accomplishments to date
achieved with HFOT and our dealer partners in providing garage doors to
disabled veterans nationwide. Today’s expansion of the partnership will
increase the positive impact our organizations contribute to our
Country’s heroes and their families.

“For over 20 years, C.H.I.’s employees have driven its growth and
success in the marketplace,” said Dave Bangert, CEO of C.H.I. Overhead
Doors. “Having all employees now share directly in the company’s success
marks an extraordinary moment for C.H.I. – and it’s only the beginning.
As we strive to always improve and better support our dealer partners,
unlocking an ownership mindset and engaging the workforce through equity
participation like this is an incredible asset for our company.”

“Regarding our ongoing partnership with HFOT, on behalf of the entire
C.H.I. Family, including the many Veterans we are privileged to call our
co-workers, we are pleased to build on our contribution to HFOT and are
excited to see the future impact it will have for our Nation’s Veterans.”

The KKR Industrials team has utilized this unique employee ownership
model at four manufacturing companies, with C.H.I. being the latest.
Beyond sharing ownership, KKR values employee engagement by having
companies invest in the workforce in areas such as safety, and by
partnering with the workforce to give back in the community.

“We believe the heart and soul of any manufacturing company is its
employees, and that remarkable results can be achieved when they are
treated as such,” said Pete Stavros, Member of KKR and Head of the KKR’s
Industrial investment team. “As we drive change in order to grow and
improve the businesses we’ve partnered with, we’ve found that having
employees with ‘skin in the game’ through equity participation is a
powerful tool. First, it builds a more engaged, energetic, and creative
workforce. Second, it creates the opportunity for employees to receive
significant financial upside in alignment with our investors. Finally,
distributions like this one can hopefully have a positive impact on both
the employees’ families and their communities. When you have an entire
workforce thinking like a group of owners, you get better results, and
C.H.I. is proof for this model.”

About C.H.I. Overhead Doors

C.H.I. Overhead Doors is a leading manufacturer of high-quality
residential, commercial sectional and rolling steel doors. Started in
1981, C.H.I. has risen to become an industry leader in innovation,
quality, and customer service. These core values along with hand-made
craftsmanship and computer-aided precision enable C.H.I. to deliver “A
Better Experience”.

About KKR

KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit, and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world‐class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com
and on Twitter @KKR_Co.

Contacts

Media:
KKR
Kristi Huller or Cara Kleiman
+1
212-750-8300
media@kkr.com