Private-equity backed firms big Mass. employer
Massachusetts companies backed private equity investment employ more than 119,000 workers, according to new data from the Private Equity Council.
"The report, the first to quantify the scope and scale of private equity investment in Massachusetts, also found that private equity firms invested more than $32 billion in Massachusetts-based companies over the past 10 years, or about $270,000 per employee," the council said in a press release. "Massachusetts is home to 91 private equity firms."
Massachusetts ranked 10th on a list that looks to measure the impact of private equity investment. California, Texas, and New York were the top three.
In the course of the study, 141 of the 309 Massachusetts companies backed by private equity investment told the council that they collectively employ 119,000 workers at all of their facilities, including those outside of Massachusetts. Based on data sampling techniques, the council said it then estimated that the 309 Massachusetts companies backed by private equity investment together employ 308,000 workers at all of their facilities.
The council said it used data sampling and analysis techniques similar to those employed by the US Bureau of Labor Statistics in developing its study.
Please click here to see the council's snapshot of Massachusetts.