New ownership program allows LayerZero employees in Aurora and Streetsboro to share in long-term company value and growth.
AURORA, OH, UNITED STATES, February 11, 2026 /EINPresswire.com/ — LayerZero Power Systems announced the launch of Progress Pays, an employee ownership program that allows its 400+ employees across the company’s Aurora and Streetsboro facilities to share in the long-term value they help create.
The program, introduced company-wide on December 17, 2025, reflects LayerZero’s belief that sustainable growth is strongest when employees are aligned with the business’s success. Through Progress Pays, eligible full-time employees, both hourly and salaried, participate in a shared ownership pool tied directly to the company’s long-term performance.
LayerZero is now among the less than one percent of private equity-owned companies nationwide to offer a broad-based employee ownership program.
When announcing the program, Milind Bhanoo, Vice Chairman and Co-Founder of LayerZero, told the crowd, “Dearest to our hearts, as LayerZero founders and operators, Jim (Galm) and I deeply care for our customers and our associates. Advent (International) was committed to allowing us to make every associate an owner. People say a lot of things when trying to make a sale, but they came through on their promise.”
Progress Pays reserves a portion of LayerZero’s future enterprise value in a shared ownership pool for employees. As the company grows and achieves its long-term business goals, the value of that pool increases. Payouts are determined based on company performance, individual base pay, and tenure at the time of a future ownership transition.
The program is designed to reinforce long-term employment and shared accountability, encouraging employees to think and act like owners.
The launch of Progress Pays comes during a period of significant momentum for LayerZero. In 2025, the company entered a strategic partnership with Advent International, expanded its leadership teams, and began a 120,000-square-foot expansion of its Philipp Parkway facility in Streetsboro, scheduled to open later this year.
LayerZero continues to actively hire across engineering, manufacturing, production, and operations roles, reinforcing its commitment to job creation in Northeast Ohio.
Progress Pays is part of a broader effort to continue strengthening LayerZero’s culture, focused on quality, safety, operational excellence, and continuous improvement. The company ties long-term value creation to measurable priorities, including on-time delivery, product quality, productivity, safety performance, and customer satisfaction.
By aligning employee success with company performance, LayerZero aims to build long-term careers while continuing to deliver highly reliable power distribution systems for data centers, semiconductor facilities, financial institutions, and other mission-critical environments worldwide.
“Progress Pays represents a powerful shift in how we think about success at LayerZero,” said Patrick Taylor, Chief Executive Officer at LayerZero Power Systems. “Our associates have always been the driving force behind our innovation and growth, and this program ensures they share directly in the value they help create.”
For more information about LayerZero Power Systems and career opportunities, visit https://www.layerzero.com/.
About LayerZero Power Systems
LayerZero Power Systems designs and manufactures advanced power distribution equipment for mission-critical applications. The company’s solutions are trusted by customers across data centers, financial institutions, semiconductor facilities, and industrial environments where reliability, safety, and uptime are essential.
About Advent
Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $100 billion in assets under management* and have made more nearly 440 investments across 44 countries.
Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, informing every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans.
As one of the largest privately-owned partnerships, our 675+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners, and Operations Advisors to support and guide our portfolio companies as they seek to achieve their strategic goals.
To learn more, visit our website or connect with us on LinkedIn.
*Assets under management (AUM) as of June 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.
Brian Love
LayerZero Power Systems
+1 440-399-9000
sales@layerzero.com
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