LayerZero Power Systems Launches ‘Progress Pays’ Employee Ownership Program for 400+ Northeast Ohio Employees
LayerZero Power Systems has launched Progress Pays, a new employee ownership program that allows employees across its 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 success of the business. 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 small percentage of private equity-owned companies nationwide to offer a broad-based employee ownership program across its workforce.
When announcing the program, Milind Bhanoo, Vice Chairman and Co-Founder of LayerZero Power Systems, told employees:
“Dearest to our hearts, as LayerZero founders and operators, Jim (Galm) and I deeply care for our customers and our associates. Advent 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 strengthen LayerZero’s culture around 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 of 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 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 International
Advent International is a global private equity investor that partners with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, Advent oversees more than $100 billion in assets under management and has completed nearly 440 investments across 44 countries.
Since its founding in 1984, Advent has developed specialist market expertise across five core sectors: business and financial services, consumer, healthcare, industrial, and technology. Its global operating model combines investment expertise, portfolio support, and sector knowledge to help portfolio companies pursue long-term strategic growth.