How Private Equity is Helping a Minnesota Company Fight COVID-19 and Create Local Jobs
Washington, D.C. – Today, the American Investment Council (AIC) released the first video in a new series of interviews conducted by Hill TV examining how private equity investments are supporting businesses and workers across America. Today’s video features Minnesota-based Victory Innovations CEO Chris Gurreri, who discussed how The Carlyle Group partnered with his business to manufacture high-grade backpack and hand-held disinfectant sprayers that have been used in the fight against COVID-19:
“The first thing we’ve gotten was some excellent coaching – there’s a team of high-level CEOs that are helping these private equity companies really take businesses to the next level, so the coaching is excellent,” said Victory Innovations CEO Chris Gurreri. “The second thing is they have a much broader reach … The Carlyle Group, with their expansive network, is hooking us up with leaders, businesses and entrepreneurs that are scattered all over the world, so we can take the Victory sprayers outside the U.S.”
Since partnering with the Carlyle Group, Victory Innovations has grown from just eight American workers to more than 50. Gurreri further elaborated how private equity has helped his business succeed:
“When you add The Carlyle Group through PE with Victory Innovations, we’re just going to be a much better company. We’re going have better expertise, we’re going to have access to better markets, we’re going have more access to capital, and it’s really going to allow us to live our entire dream out, which is to get Victory sprayers across the world, fighting infectious diseases, and sanitizing and disinfecting as many spaces as possible.”
Finally, Gurreri discussed how Delta Airlines has deployed Victory Innovations’ high-grade backpack and hand-held disinfectant sprayers to clean the interiors of their flights and keep travelers safe.
Gurreri’s interview with The Hill is the first in a new series of videos featuring the leaders of private equity-based businesses who will discuss how private equity has played a crucial role supporting their companies grow and hire new workers.
Be sure to check in next week when the AIC releases the next interview in this series.
Watch a previous interview with the CEO of Signify Health, another private equity-backed business that is helping in the fight against COVID-19.
