TA Partners with Ownership Works to Expand Impact of Employee Ownership Across its Portfolio
BOSTON, MA – November 20, 2023 – TA Associates (“TA” or “the Firm”), a leading global private equity firm, today announced that it has partnered with Ownership Works, a nonprofit organization with a mission to increase prosperity through shared ownership at work.
Founded in 2021, Ownership Works helps companies and investors strengthen business results by implementing broad-based employee ownership programs, allowing all workers to share in the value they help create. The consortium has more than 75 partners across the private, public and nonprofit sectors and aims to generate at least $20 billion of wealth for lower-income and diverse workers by 2030.
Through the partnership, TA seeks to leverage Ownership Works’ resources and expertise to establish, structure and implement broad-based employee incentive programs at portfolio companies well-suited for these models. This builds on and strengthens TA’s existing practice of implementing broad profit sharing programs at portfolio companies, where relevant.
“At TA, we have seen the benefits of broad-based employee ownership firsthand and look forward to bringing new opportunities to our portfolio through the partnership with Ownership Works,” said Ajit Nedungadi, CEO of TA. “We are confident that these ownership programs have the power to not only create financial opportunities for employees, but also to boost employee engagement, attract and retain talented employees who are truly invested in their companies’ success, and directly improve business performance.”
“Joining Ownership Works is a significant step in the ongoing journey to formalize our employee ownership strategy,” added Ritika Chandra, Head of ESG and Senior Vice President, Strategic Resource Group at TA. “We are proud to embrace a program that will help us generate positive outcomes for employees across our global portfolio, as well as the communities in which they live and work.”
This partnership follows several recent strides the Firm has made to progress its overarching employee ownership efforts. Over the past year, TA formed an Ownership Committee of investment professionals across verticals to share best practices from prior implementations and develop a go-forward approach. In May 2023, the Committee published guiding principles to help sponsors design and implement these structures for portfolio companies, where relevant, ensuring the programs energize workforces and benefit both businesses and their employees.
To learn more about TA’s approach to responsible investment, please visit www.ta.com/responsibility.
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries—technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
About Ownership Works
Ownership Works is a nonprofit on a mission to increase prosperity through shared ownership at work. It partners with business leaders and investors to provide all employees with the opportunity to become owners and participate in the success they help create. To learn more, please visit www.ownershipworks.org.