Iowa Businesses Thrive After Partnering with Private Equity
Des Moines, IA – Private equity plays a vital role in strengthening the economy in Iowa and across the United States. Every day in communities across this state, local businesses partner with private equity to help them unlock and reach their full economic potential. According to a new EY report, private equity supported 313,000 jobs and $35 billion in economic activity in the Hawkeye State in 2018.
A new American Investment Council video series explores these partnerships at work in Iowa.
In 2017, Milford-based Grape Tree Medical Staffing partnered with New Mainstream Capital to scale their business to meet increasing demand for nurses and healthcare professionals in rural Iowa. Two years into this partnership, Grape Tree has doubled its staff and expanded operations into South Dakota and other neighboring states.
A few hours away in Adel is Inland Coatings, an industrial coating manufacturer and another example of a successful partnership between private equity and a rural Iowa company. Since Midwest Growth Partners invested in this family business in 2014, Inland Coatings has grown into an industry leader throughout North America. This growth also allowed the company to offer healthcare and retirement benefits to employees.
Partnerships with private equity allowed these Iowa businesses to better serve their communities and strengthen the local economy. Across the United States, the private equity industry accounts for 5% GDP and supports more than 26 million jobs