Creating Sustainable Value Through ESG
With a pioneering commitment to ESG, Blue Wolf focuses on operational, strategic and financial discipline to responsibly transform companies. By applying an ESG lens to each company, we identify and execute on opportunities where complexity can deter other investors and obscure intrinsic value. To that end, we have identified seven core ESG themes that are foundational to our investment strategy. They are:
We then work closely with management to implement growth strategies to position companies to thrive over the long-term, creating sustainable value for both our investors and the communities in which they operate.
Mr. Grill is a Principal at Blue Wolf Capital Partners and serves as Chair of Blue Wolf’s ESG Committee. Prior to joining the firm in 2012, Mr. Grill worked as an analyst in the Mergers & Acquisitions group at Citi.
Mr. Grill serves on the Board of Directors of Twin Rivers Paper Company, The State Group, Fox Rehabilitation, KDB, RHA Health Services, and Welch & Rushe. He received a B.S. in Economics from Duke University and is a member of Duke University Financial Partners.× Close
Mr. Musuraca is a Strategic Advisor of ESG and Labor at Blue Wolf Capital Partners. He is an internationally-known leader in the fields of responsible investing, pension fund and corporate governance, and collective bargaining. He advises Blue Wolf’s Principals and portfolio companies on these matters.
Prior to joining the firm in 2009, Mr. Musuraca was an Assistant Director in the Department of Research and Negotiations, District Council 37 of the American Federation of State, County, and Municipal Employees (AFSCME), AFL-CIO. District Council 37 is one of the largest public-sector unions in New York City, representing 125,000 members who work for the City of New York, its covered organizations, and certain agencies of the State of New York. He worked for District Council 37 from 1988 to 2009.
From 1996-2009, Mr. Musuraca was a designated trustee to the New York City Employees Retirement System (NYCERS), a 300,000-plus member pension fund. He also served, from 1997 until 2009, as a trustee to the Cultural Institutions Retirement System (CIRS) – a fund with members from the major cultural institutions and day care facilities in the New York City metropolitan area. Mr. Musuraca was also a founding member of the Principles for Responsible Investment (PRI) Board and was the labor representative to the Advisory Board of the New York City Independent Budget Office. He previously served on the board of Sustainalytics, was chair of the Verité board and currently serves on the PRI Private Equity Advisory Committee and is a member of the advisory committee of the Investor Alliance for Human Rights.
Mr. Musuraca received a B.A. in Political Science from New York University, a M.A. in American History from the University of Massachusetts/Boston, and a Master’s in Philosophy from the Graduate Center, City University of New York. He has published a number of papers on labor affairs and urban history and politics in academic journals and has taught in the Department of Urban and Labor Studies at Queens College, City College, Rutgers University, and the New York City campus of Cornell University.× Close
Mr. Winegar is the Chief Operating Officer at Blue Wolf Capital Partners and is the architect of Blue Wolf’s Operating Partner, Safety, Health and Environmental, Cyber Security, and Procurement programs, and a founding member of Blue Wolf’s ESG program. Mr. Winegar has over 30 years of diverse experience across industries including oil & gas, chemicals, pharmaceuticals, healthcare and industrial equipment; as a senior executive, an advisor and a private equity operating partner. Since joining Blue Wolf, he has served as the interim COO of Pearl Technologies (Gloucester), ModernMD Urgent Care, and National Home Health Care. Mr. Winegar oversees internal Blue Wolf operations and Blue Wolf’s ESG, portfolio, Operating Partner and Strategic Advisor programs.
Prior to joining the firm in 2012, Mr. Winegar worked at Capgemini Consulting and served corporate and private equity clients in vaccine manufacturing, pulp and paper, Department of Defense, and capital equipment manufacturing. During this period, Mr. Winegar began his collaboration with Blue Wolf, serving as Lead Engagement Partner for Transformation Initiatives at Finch Paper Company and Pearl Technologies, and serving as interim COO at Channel Technologies Group.
Previously, Mr. Winegar served as a Principal at Tunnell Consulting, a leading operations and compliance consultancy serving Fortune 100 clients in life sciences. Prior to that, he held a variety of roles of increasing responsibility at American Cyanamid, a global agriculture and specialty chemicals producer. Mr. Winegar began his career at Chevron USA as a Production and Facilities Engineer overseeing the design, contracting, and installation of offshore oil and gas production facilities in the Gulf of Mexico.
Mr. Winegar serves on the Board of Directors of Edge Industrial Technologies. He received a B.S. in Mechanical Engineering from the University of Missouri-Columbia and a M.B.A. from Columbia University.× Close
Ms. Cullinan is the Portfolio Reporting Manager at Blue Wolf Capital Partners. Prior to joining the firm in 2020, she worked in the Investment Management group at Deloitte & Touche, primarily auditing private equity funds.
Ms. Cullinan received a B.A. and M.S. in Accounting from Fairfield University. She is a Certified Public Accountant and member of AICPA.× Close
Mr. Judd is a Strategic Advisor of Building Products and Industrial Distribution at Blue Wolf Capital Partners. He has spent his career managing turnarounds and growth strategies of under-performing businesses, including as CEO of Novo Building Products and previously as President and CEO of Blue Wolf’s former portfolio company, Snappy Air Distribution Products, where he transitioned from a Board role to CEO, rebuilt the management team, rationalized manufacturing facilities and repositioned the company for profitable growth and acquisitions.
Mr. Judd served as CEO of PrimeSource Building Products, North America’s largest fastener company. He led PrimeSource through its transition to a private equity sponsored company while growing revenues and earnings. Mr. Judd has also served as President and COO of BlueLinx Holdings from 2004 to 2008 and was President and CEO from 2008 to 2013. He was instrumental in guiding the company’s transition from a division of Georgia-Pacific Corporation to an independent, publicly held company. During his 20-year career at Georgia-Pacific, George held a series of positions managing sales, operations, and production in the Building Products Distribution Division.
Mr. Judd serves on the Board of Directors of Hardwood Distribution Incorporated (HDI), Sterling Site Access Solutions and serves as the Chairman of the C&C Forest Products board of managers. He is also an advisor to Ajustco. Mr. Judd has previously served on the Board of Directors of American Builders Supply, Suwannee Lumber Company, The Mulch & Soil Company and the Harvard Joint Center for Housing, PrimeSource Building Products and the Advisory Board of DOCU-SIGN. He received a B.A. from Western Connecticut State University.× Close
Ms. Spaziani is the Director, Government Affairs and Communications at Blue Wolf Capital Partners and has more than two decades of experience in government and public affairs. Prior to joining the firm in 2021, she spent over seven years at the NewYork-Presbyterian hospital system, serving as Vice President of Communications, External Affairs, and Federal Relations. Prior to that, Ms. Spaziani was a consultant with Sachs Policy Group and worked on Capitol Hill in numerous roles, including Senior Policy Advisor to U.S. Senator Kent Conrad, Legislative Director to U.S. Representative Ron Kind, and Legislative Assistant to U.S. Representative Marion Berry.
Ms. Spaziani received a B.A. from Duke University and a J.D. from Georgetown University Law Center.× Close
United Nations Principles for Responsible Investment
Blue Wolf became one of the first middle-market PE funds in the U.S. to sign the Principles in 2009. Michael Musuraca, our Strategic Advisor of ESG and Labor, is a member of the PRI Private Equity Advisory Committee.
Ownership Works was founded in 2021 to scale shared ownership as a means of addressing economic insecurity.