Parts Town Unlimited, a leading global distributor of original equipment manufacturer (OEM) parts, has launched Town Shares, a new employee ownership program that gives all 5,500 team members a stake in the company’s long-term financial success.
The program applies to every employee across Parts Town Unlimited’s 46 brands and 147 global locations. Participation is automatic and free of cost, and the program operates in addition to regular salaries and benefits. Payouts will be based on overall company performance, with the aim of offering employees a meaningful financial benefit over time.
CEO Steve Snower, who has led the company for over 20 years, called Town Shares the most important initiative in the company’s history. “This is about recognizing the contributions of every person here. Everyone helps create value—and now everyone can share in it,” he said.
The company says the initiative is designed to foster a stronger sense of purpose and accountability across all levels of the organization. By giving team members a direct financial stake, Parts Town aims to promote innovation, retention, and a long-term ownership mindset.
Private equity firms Berkshire Partners, Leonard Green & Partners, and Roark Capital—major investors in Parts Town Unlimited—supported the development of the program. “The success of this business is powered by its people,” said Candice Corvetti, Managing Director at Berkshire. “We are proud to support a model that shares success more broadly.”
Parts Town Unlimited is the parent company of over 45 brands serving the foodservice, residential appliance, HVAC, and consumer electronics markets. The company specializes in the high-tech distribution of genuine OEM parts and related services, helping businesses and technicians quickly find and order replacement parts online.
Headquarters in Addison, Illinois, Parts Town Unlimited reported approximately $2.4 billion in annual sales in 2024.
Known for its investment in digital tools and logistics technology, the company has grown rapidly through acquisitions and organic expansion. Its brands collectively support customers in over 100 countries.
Don’t miss any content from Distribution Strategy Group. Join our list.
