Tailwind-Backed RANDYS Launches Team Ownership Program
New York – March 2022 – RANDYS Worldwide Automotive (“RANDYS”), a leader in the automotive aftermarket and portfolio company of Tailwind Capital (“Tailwind”), a growth-oriented private equity firm investing in targeted sectors within industrial and business services, recently announced that it has launched the Team Ownership Program, an equity participation program in which every RANDYS full-time employee will receive an economic interest in the company. This program provides all employees with the opportunity to participate in and benefit from RANDYS’ continued growth, while strengthening RANDYS’ culture of one team focused on the same core values.
Jeff Calhoun, Managing Partner at Tailwind, commented, “We strongly believe that aligning opportunities for ownership across the entire employee base, not just the top managers, will create value through employee engagement, retention and a stronger culture. Tailwind is committed to continuing to promote this initiative across our portfolio and look forward to seeing the benefits for our portfolio companies and investors.”
“We are tapping into the mentality of an owner,” says Kevin Kaestner, RANDYS Worldwide President & CEO. “The mindset where being diligent about every detail pays off, where knowing a job well done impacts the collective good of everyone in the company, and where a strong company bottom line equates to a strong personal bottom line. We want to continue to embrace the values that got us where we are today. RANDYS is celebrating our 40th anniversary this year and a number of our employees have been with us for 20+ years, so it was easy to look inward and see the value of our team members.”
About Tailwind Capital
Tailwind Capital is a private equity firm focused on growth-oriented investments in targeted sectors within business and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has invested in 50 portfolio companies and over 155 strategic acquisitions.
RANDYS began in 1982 and is a leading provider of highly engineered automotive aftermarket drivetrain, undercar, and suspension products. RANDYS distributes its branded products nationwide through its strategically located distribution sites and caters to all channels of the aftermarket through its family of industry-leading brands.