Former Industrial Facility Donated to Protect Nature and Preserve Life
New York, NY, April 26, 2011 — Blue Wolf Capital Fund II, L.P. (“Blue Wolf”), the New York-based private equity fund, and The Nature Conservancy, the world’s leading conservation organization, announced today that a subsidiary of former Blue Wolf portfolio company Healthcare Laundry Systems (“HLS”) has donated an industrial property in Rockford, IL to the Conservancy. The property, previously an industrial laundry facility, is valued at an estimated $500,000. It will be sold by The Nature Conservancy, and at the direction of Blue Wolf, the proceeds will go to the Conservancy’s “Heart of the Adirondacks” campaign.
The Heart of the Adirondacks is a globally important forest and freshwater conservation effort that balances ecology and human economy in New York’s Adirondacks. Through this 175,600-acre project, The Nature Conservancy is linking some 860,000 protected acres within a landscape that offers hope for meaningful preservation of a forest type that historically has suffered more abuses than any other on earth. Through this project, more than 425 miles of rivers and streams as well as over 300 lakes and ponds and 100 mountains will be protected for people and nature.
Blue Wolf and the Conservancy first worked together in 2007, when the Conservancy purchased 161,000 acres of Adirondack forestland from Finch Paper Holdings LLC, a Blue Wolf portfolio company. That transaction included a long term agreement that ensures a “green-certified” pulpwood supply to the Finch Paper mill in Glens Falls, NY, and continues to support jobs associated with timber harvesting.
“We are delighted to further our relationship with The Nature Conservancy and support their important work through this donation,” says Adam Blumenthal, Managing Partner of Blue Wolf. “We take very seriously our commitment to the U.N. Principles of Responsible Investing, which include factoring social, environmental and sustainability considerations into our investment activities. With this gift, we found a creative and beneficial home for a property that did not fit with our investment thesis and we could no longer use. The Nature Conservancy is a pragmatic and effective organization with goals that we have long supported, and we are confident that their stewardship of forestland and other natural environments brings great benefits to many people.”
Blue Wolf was able to use this industrial property to support the work of The Nature Conservancy through a Conservancy program known as “Trade Lands.” Since its inception in 1981, the Trade Lands program has received over $300 million worth of real estate gifts. These gifts, which range from single family residences to apartment houses to industrial buildings, are sold by the Conservancy with permission of the donors and the proceeds used to pursue its mission.
“The Conservancy thanks Blue Wolf for their creative gift, the first donation of industrial property in six years,” says Bill Ulfelder, New York State Director of The Nature Conservancy. “The firm’s ability to think outside of the box will be a tremendous help in supporting our Heart of the Adirondacks campaign. We hope that this gift of industrial property will help to regenerate the trend of real estate gifts to the Conservancy and bolster our Trade Lands program.”
About The Nature Conservancy
The Nature Conservancy is a leading international, nonprofit organization that preserves plants, animals and natural communities representing the diversity of life on Earth by protecting the lands and waters they need to survive. To date, the Conservancy and its more than one million members have been responsible for the protection of more than 15 million acres in the United States and have helped preserve more than 102 million acres in Latin America, the Caribbean, Asia and the Pacific. For additional information, visit nature.org.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value. For additional information, please visit www.blue-wolf.com.