Private Equity-Backed Companies Support the American Recovery
Private equity-backed companies are answering the call to assist the American recovery to COVID-19. A new video series by the American Investment Council highlights nine private equity-backed businesses and the unique ways in which they are helping our nation safely and effectively combat the coronavirus pandemic. Learn more about how private equity-backed companies support the American recovery.
AIC Members’ portfolio companies have assisted the American recovery by donating much-needed supplies.
- Blackstone’s Great Wolf Lodge gave more than 15,000 lbs of fresh produce, dairy products, dry goods and meats to community food banks.
- Advent’s Serta Simmons Bedding has donated 10,000 beds to help healthcare facilities properly care for the most vulnerable Americans.
- Genstar’s Infinite Electronics leveraged its resources to 3D-print reusable face shields and donated them to healthcare workers throughout the U.S.
Many private equity-backed businesses are assisting the American recovery by providing essential products and services to combat the spread of the virus.
- New Mountain’s ILC Dover developed a new biohood with 100x the protection of standard N95 masks.
- Carlyle’s Ortho Clinical Diagnostics created a coronavirus antibody test to help track human exposure to COVID-19.
- Riverside’s Marena, a compression garment company, has completely shifted its business to manufacture reusable face masks.
As nearly all education has been forced online, portfolio companies are helping facilitate this transition with new technology.
- TPG’s EVERFI provides online educational resources and courses for students of all ages. At the outbreak of COVID-19, the company announced it would be providing access for K-12 parents and teachers to its library of 20+ digital courses for free.
- KKR’s Cengage has opened up its vast digital textbook library to students at no cost.
- Madison Dearborn’s Lightspeed Systems, an industry leader in online classroom management solutions, is offering its software to schools at all levels free of charge.
The cumulative efforts of these private equity-backed companies will help the United States overcome the devastating impacts of COVID-19 and emerge a stronger and more resilient nation.
