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Celebrating Summer

This summer looks a lot better because of private equity’s investments over the past year. Millions of Americans were able to get vaccinated, many of the small businesses we know and love survived the pandemic and are thriving, and the travel industry is rebounding.

Investing in Igloo coolers

David Allen, President and CEO of Igloo Products Corporation, sat down with Drew Maloney, President and CEO of the AIC, to discuss Igloo’s successful partnership with private equity firm ACON Investments.

Private equity has played a major role in Igloo’s success, providing the Katy, Texas-based company with the capital needed to turn its vision into reality. ACON Investments helped Igloo improve its products, increase marketing, and retain long-time employees, allowing the company to grow and expand. Thanks to private equity, Igloo did not have to let go of any full-time employees during the COVID-19 pandemic and was able to provide them with an additional 80 hours of sick leave to ensure workers could stay home if they had any symptoms.

Private equity provided Igloo with the funds to begin pre-building coolers months ago, as they anticipated a busy season with pandemic restrictions lifting in the summer. Igloo is now well-positioned to help Americans keep their food and drinks cold as they begin traveling again.

Millions of Americans vaccinated

According to the Wall Street Journal, “private-equity portfolio companies have been involved in nearly every step” of getting people vaccinated against COVID-19.

Backing Small Businesses

A new report from EY shows that the majority of private equity investment in 2020 went to small businesses. Of all the businesses receiving private equity investment:

  • 86% employed 500 or fewer workers
  • roughly a third employed just 10 workers or less.

These small businesses represent the backbone of the American economy, and their strength will be critical to a sustained recovery.

Supporting the Travel Industry

The travel industry is rebounding, thanks to private equity investment in companies like Airbnb, RVShare, and Expedia. This year, we’re celebrating summer because of private equity’s investments in our families and communities.