March 1, 2021 – NEW YORK – Today, Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, announced its acquisition of Colson Group (“Colson” or “the Company”), a global leader in caster and wheel product solutions. Terms of the transaction were not disclosed.
Colson is one of the largest manufacturers and distributors of casters and wheels in the world, with over 1,600 employees across 30 global facilities in 14 countries. With a large and diverse customer base that includes several Fortune 500 corporations, Colson offers the most comprehensive suite of caster and wheel solutions in the industry. The Company’s products are used in a wide variety of applications across end-markets such as medical, industrial, logistics, retail and e-commerce.
“With its global scale and long-standing roster of blue-chip customers, Colson is the global leader in the highly stable and growing casters and wheels market. In addition, Colson’s large domestic manufacturing footprint combined with its impressive product portfolio uniquely position the company to serve the U.S. market. Over the next few years, we intend to invest significant capital to further enhance Colson’s domestic capabilities,” said Aakash Patel, Principal at Blue Wolf. “We are excited to partner with Tom Blashill and his management team to accelerate long-term growth at Colson.”
“Our track record of transforming industrial manufacturing companies into best-in-class businesses combined with our experience optimizing and strengthening global supply chains position us perfectly to support Colson in the next phase of its evolution. We will seek to unlock value at Colson by both leveraging their strong existing foundation and by utilizing Blue Wolf’s unique skillset,” added Adam Blumenthal, Managing Partner of Blue Wolf Capital. “By implementing our ESG investment framework, we will focus on driving growth at Colson through operational, commercial and organizational enhancements. We look forward to working with the Company on this exciting journey.”
“We are pleased to be partnering with Blue Wolf to build upon the market-leading reputation Colson has developed over its 100+ year history. Not only does Blue Wolf have a successful track record investing in industrial manufacturing businesses, but they also have a team of highly experienced operating professionals who will work alongside us and add value to our management team as we drive further efficiencies in the Company,” said Tom Blashill, CEO of Colson Group. “As we enter this new chapter, Blue Wolf’s support will best position Colson to continue to deliver the innovative products, unmatched customer service and supply chain excellence necessary to support our growing global customer base.”
As a result of the acquisition, Blue Wolf Operating Partner Rich Kobor will join Colson’s Board of Directors alongside Adam Blumenthal and Aakash Patel of Blue Wolf as well as Colson’s CEO Tom Blashill. In addition, Ray Poole, who retired after more than a 25-year career at United Technologies during which he served as CFO of the Carrier Residential and Fire & Security Global Fire Product divisions and most recently, was the Senior Vice President of Operations and CFO for Emcor Facilities Services, will also join the Board.
About Colson Group Colson Group, a global leader in caster and wheel products, creates and drives solutions that move lives forward. World renowned brands provide specialized mobility for every industry and market. A leading product portfolio and proprietary global value chain deliver unparalleled efficiencies and support. With over 1,600 employees across 30 global facilities, Colson Group is committed to its customers’ success, ensuring proper products are selected or designed from the start, and always keeping the end-users’ safety, efficiency, and happiness in mind. For more information, visit www.ColsonGroup.com.
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Media Contact Kate Sylvester, ksylvester@sloanepr.com; 203-736-7821
Blue Wolf Capital Announces Investment in Vicksburg Forest Products
February 8, 2021 – NEW YORK – Today, Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, announced its investment in Vicksburg Forest Products, LLC (“VFP” or “the Company”), a manufacturer of Southern Yellow Pine lumber products that operates a sawmill facility in Vicksburg, Mississippi. Terms of the transaction were not disclosed.
VFP’s sawmill produces a diverse mix of dimensional and specialty lumber products. In 2018, the family-owned and operated company underwent a large-scale transformation to convert from a hardwood mill to a softwood mill.
Building upon this transition, VFP recently announced the planned expansion of its operations, which includes a new high-speed chip-n-saw line, two new continuous dry kilns and a variety of other infrastructure projects. Blue Wolf’s investment will support the Company in this expansion that aims to more than double lumber production capacity to approximately 180 million board feet annually and add approximately 60 new jobs. In addition to Blue Wolf’s investment, the Company has received federal, state and local grants and incentives to support this expansion. The project is under construction with completion anticipated in the summer of 2021.
VFP’s Owner and Manager Billy Van Devender and the current management team will continue to lead the business going forward. As a result of the investment, Charlie Miller and James Shovlin of Blue Wolf will join the Company’s Board of Directors.
“As active investors in the U.S. South forest products sector for over a decade, we recognized VFP as a best-in-class facility with high-quality equipment and infrastructure already in place, making it an ideal candidate for expansion. Located in one of the most robust wood baskets in the U.S. South, the mill is well-positioned for growth with convenient access to both an abundant supply of raw materials and major throughfares to access its customers,” said Charlie Miller, Partner at Blue Wolf Capital. “We are excited to support Billy and VFP’s highly-regarded management team in expanding operations and driving long-term growth for the business.”
“Given our track record investing in sawmills in rural communities across the U.S. South and our recent experience restarting a mill in the region, the opportunity to partner with Billy and his team on this expansion made VFP an ideal investment for Blue Wolf,” added Adam Blumenthal, Managing Partner of Blue Wolf Capital. “We look forward to partnering with the VFP team in enhancing operations and governance to best meet the needs of their growing customer base in this robust market.”
“As we embark on this next phase of growth, we are thrilled to partner with Blue Wolf, a firm that has a deep track record and network across the forest products industry. Blue Wolf’s experience working hand-in-hand with local governments and communities like ours combined with their understanding of our customers and long-term vision make them a great partner for us,” said Billy Van Devender, Owner and Manager of VFP. “With this partnership in place, we remain focused on expanding our business to become one of the most diverse mills in the Southeast to best support our customers.”
Raymond James Ltd. acted as financial advisor to VFP in connection with the transaction.
About Vicksburg Forest Products, LLC Vicksburg Forest Products, LLC is headquartered in Jackson, Mississippi and offers customers a wide variety of dimensional and specialty lumber products through its sawmill operations located in Vicksburg, Mississippi. The Company’s facility underwent a large-scale transformation in 2018 and VFP is now embarking on its next phase of growth, with significant upgrades throughout the mill that will expand production capacity to 180 million board feet by the summer of 2021. Family-owned and operated, VFP is Page 2 of 2 dedicated to its employees who are passionate about delivering unmatched, high-quality lumber from a world-class manufacturing facility.
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Media Contact Kate Sylvester, ksylvester@sloanepr.com; 203-736-7821
Finding Value Through an ESG Lens: PEI Keynote Interview with Blue Wolf Capital
Being systematic on the ‘S’ in ESG will help firms identify opportunities and build resilience, says Blue Wolf Capital’s Adam Blumenthal
New York-based Blue Wolf Capital, which has a portfolio made up largely of healthcare services and industrial companies, found itself on the frontline of the covid-19 pandemic in the early months of 2020. Adam Blumenthal, founder and managing partner, tells Private Equity International that the firm’s long-term focus on environmental, social and governance factors was fundamental to its ability to cope with the pressures brought by covid-19. Meanwhile, Blue Wolf’s attention to the ‘S’ in ESG is at the heart of its strategy to unlock value as it prepares for life after the pandemic.
Question: How has Blue Wolf been affected by covid-19 and how has it responded to the pandemic?
Due to the healthcare services aspect of our investment portfolio, we were aware of the likely impact of covid-19 very early. That insight meant we were able to educate our employees and put in place support across the portfolio to maintain safe workplaces and behaviours at our companies.
Through our longstanding Safety, Health and Environmental programme, we already had infrastructure in place that allowed us to not only roll out best practices but also to encourage broad cross-portfolio engagement of resources – which was necessary, because all our portfolio companies continued operating throughout the pandemic. All of them were deemed essential. We had to keep going and remain safely operational, despite the disruption.
Whether it was on the healthcare or the industrials side of the portfolio, we witnessed the heroism of frontline workers as they met the needs of society in the pandemic. We have a group of outpatient healthcare facilities that operate in areas of New York that were at the centre of the pandemic. Everyone around the world saw what was happening in Brooklyn. We had urgent care centres there, and people kept coming into work every day in the midst of covid-19, and had their workload increase.
The only good news is that now we have a year of experience on how you manage in a pandemic at a high-performance level, while keeping people safe and meeting society’s needs. We are far better prepared to do that today than we were a year ago.
Question: Blue Wolf has been focusing on ESG for many years; how did that contribute to the resiliency of its portfolio when covid-19 arrived?
We have always had a focus, portfolio-wide, on managing human capital and on employee health and safety. We think that engagement with our employees is an important driver of business success, and we have formal governance systems to ensure our portfolio companies are doing that – that is getting onto the ‘G’ in ESG. You need a governance process. Without the ‘G’, it just does not happen. You need to know what you are doing and measure it through board committees.
We have used the ‘G’ features of ESG to put in place supports for the ‘S’. Having emphasised employee health and safety at the board and C-suite level for many years, when the crisis hit we did not have any questions about what our priorities would be or need to invent any new tools. If there are no questions about priorities and if you have the tools, it is easy for people to do the right thing.
We were able to track covid-19 infection rates across the portfolio and we found that less than 5 percent of our employees who contracted covid-19 were infected at work. We were able to demonstrate that if you are focused on providing people with a safe place to work and with the tools and the education to work safely, then it can be done. We are extremely proud of our work to make that happen.
Question: The pandemic has highlighted inequalities in the US healthcare system. What is Blue Wolf doing to address these?
The American healthcare system is well known for its inefficiency. Although the US has some of the best healthcare in the world at the highest level, on average it provides lower-quality outcomes at a higher cost than in many other developed nations. Closing that gap is a driver of value.
Blue Wolf’s approach to healthcare can be summarised by something called the Triple Aim – having better health, at a lower cost, with a higher level of patient satisfaction. We believe that the way to tell if you are creating value in American healthcare is whether your strategy is delivering on the Triple Aim. That has led us to embrace distributed home and community-based services that improve population health.
An example of this is portfolio company FOX Rehabilitation, which provides home-based physical therapies to a geriatric population. We have been putting physical therapists – with adequate PPE and testing – into the homes of 80 or 90-year-olds during lockdown. We help keep these people healthy, even though their mobility is restrained. We have great partnerships with assisted living facilities and senior citizen advocacy groups, because we can deliver the care where it is not happening otherwise.
We think that the way to lose money in healthcare over the next decade is to provide high-cost luxury services. The way to generate value for society and for investors is to use the Triple Aim to provide quality outcomes at a lower cost, in the way that the rest of the world has proved it is possible to do. Since the pandemic, valuation multiples on homebased and community-based care have increased dramatically. Covid-19 has made it clear that they are a critical piece of creating value in the system.
Question: 2020 exposed various social problems in the US. Can private equity investment help neglected communities while delivering returns?
With some of our industrial investments, we are the largest employer in small towns in America. We have operated sawmills in Dixie County, Florida, and Glenwood, Arkansas; paper mills in Madawaska, Maine. When we make an investment in a place like that, the advantage we have is that we are the only private equity company around. Because we are off the beaten path, typically, we can invest at valuations that are quite compelling.
We use ESG as a lens to find value creation opportunities. The fact that there is a lack of investment capital in these areas creates the opportunity to acquire attractive assets at low values. You get talented people, low-cost inputs and do not have a lot of competition.
However, it is not an anonymous world in Glenwood, Arkansas – your plant manager is going to have breakfast at the same café as the janitor. When you are operating in that environment, you need to be a community partner if you are going to be an employer of choice for the most talented people in the community. We view that as a business strategy as well as the way businesses need to behave.
Question: Does this approach extend to partnering with your workforces?
We have successfully invested in unionised companies since our inception as a firm. In a regulated environment, like healthcare, working collaboratively with unions is important. We approach our relationship with unions the same way we do with sources of financing or customers, and over 15 years, we have conducted ourselves so that we have a relationship of trust with unions. We negotiate hard for business success, but we tell people the truth and we recognise that unions and their workforces have a vested interest in the success of the company.
The result has been that we see investment opportunities that other people do not, because unions will call us and say: “Hey, we’ve got a problem at this company, is there a way you can buy this and fix it?” Usually we can’t – but when we can, that is a really remarkable piece of off-market dealflow.
Question: Will disruption to supply chains during covid-19 encourage investment in US manufacturing?
In our mind, it is about balance. American business followed a model of outsourcing to low-wage economies for many years that created structural risk within their supply chains. What is happening now is not a 180 degree turn from there, but companies are acknowledging the risks and investing to mitigate them. It is tragic that it took a pandemic for people to recognise that risk. We have been trying to mitigate it for many years. For example, we bought a building products company in 2016 and invested in domestic manufacturing to make sure we can always meet short-term demand. We want to have that kind of balanced, robust, resilient supply chain.
Question: What are the main lessons from the past year? Can interest in ESG be sustained?
ESG is a lens for value creation – it forces you to see things that others don’t, in ways that others don’t. I believe the private equity community is serious about embracing this approach.
As an investor, you have to see problems that become evident today as opportunities to invest for the future. Certainly, the pandemic has highlighted problems in our society and economy, ranging from the vulnerability of our supply chains, to the quality of our public health infrastructure. At the same time, operating in the pandemic has made clear there is room for innovation to address those problems. The pandemic has taught many people how to operate in a safe and systematic way – that is an innovation that has been broadly accepted throughout our economy.
The State Group Names Michael Lampert as Chief Executive Officer
NASHVILLE, Tenn. – January 25, 2021 – Today, The State Group Inc., a leading multi-trade industrial contractor providing quality maintenance, repair and construction services, announced the appointment of Michael Lampert as Chief Executive Officer, effective immediately. Mr. Lampert brings over 20 years of senior leadership experience across the manufacturing, construction and service industries.
Founded in 1961, The State Group operates 20 offices throughout the United States and Canada. The company employs over 1,200 construction professionals and support staff and performs over 2 million man-hours annually of construction, retrofit, maintenance, and emergency services. In April 2018, The State Group was acquired by Blue Wolf Capital Partners, a New York-based private equity firm, and Yellow Point Equity Partners, a Vancouver-based private equity firm.
“I’m excited to join The State Group, a company that has built an impressive track record as a leader in the industrial and engineering services sector and a trusted long-term partner for many Fortune 100 companies,” said Michael Lampert, CEO of The State Group. “I’m looking forward to working closely with the management team to continue to provide best-in-class service to our clients while growing the business.”
Prior to joining The State Group, Mr. Lampert served as the President and CEO of GrayWolf Industrial, a specialty construction, maintenance and fabrication provider. During his tenure at GrayWolf Industrial, he also held the roles of Chief Operating Officer and Chief Financial Officer, overseeing all operations including sales, estimating, execution, safety, quality and human resources. Previously, he also served as the President of Integrated Energy Technologies, a turbine component manufacturing company that was founded as a result of CitiGroup Venture Capital’s acquisition of the Evansville Division of Rolls Royce Aerospace.
“We are pleased to welcome Michael to The State Group as he not only brings decades of experience leading companies across the industrial sector, but he also has a demonstrated track record of driving growth while working closely with private equity partners,” said Arthur Cabrera, Executive Vice President and CFO of The State Group. “I’m excited to work alongside Michael as we continue to grow our business while upholding the highest safety and quality standards that we are known for across our projects.”
“Michael’s expertise integrating sales, engineering, manufacturing and finance coupled with his experience in high value manufacturing positions him well to drive success at The State Group,” said Marc Dumont, former CEO and current board member at The State Group. “We are excited to have Michael joining the leadership team and are confident his background will be a tremendous value-add to the company.”
About The State Group The State Group is a leading North American multi-trade industrial and specialty services contractor. Established in 1961, the company provides comprehensive electrical and mechanical trade services to Fortune 100 companies in the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group performs over two million man-hours annually of retrofit, maintenance, construction and emergency services and maintains a tooling and equipment inventory to support its skilled workforce. The company has offices across the United States and Canada and is ISO 9001:2015 registered. For more information, please visit www.stategroup.com.
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Media Contact Kate Sylvester, ksylvester@sloanepr.com; 203-736-7821
ABILENE, Texas & FORT WORTH, Texas — Petrosmith, a leading provider of production equipment and oilfield tubular goods, has acquired the assets of Wellflex Energy Solutions, LLC (“Wellflex” or the “Company”), a leading engineering, procurement and construction management company.
Wellflex, headquartered in Fort Worth, Texas, utilizes the latest in design technology to assist in detailed engineering, fabrication and project management to provide customers with the most efficient, fit for purpose equipment.
Chris Thomas, CEO of Petrosmith, said, “We believe Wellflex’s design and project management solutions are best-in-class and will be in high demand as the energy sector gets back on track. Combining the Wellflex process with Petrosmith’s quality fabrication and services will provide our operators and customers an efficient and effective process to reduce facility expenses as the market returns. We are excited to add the Wellflex team to Petrosmith as we steer the company towards long-term success.”
“Our successful sale to Petrosmith is a testament to our team’s collective effort to be the best in providing high quality, design, engineering, fabrication and construction management for our customers,” said Nick Klaus, President of Wellflex. “We’re excited to join Petrosmith as we begin the next chapter of Wellflex’s growth and success.”
“The addition of Wellflex provides an exciting opportunity to partner with a company aligned with our own values in prioritizing quality of service,” said Michael Duffy, President of Petrosmith. “Wellflex has a strong brand built on a foundation of nearly 15 years of high-quality service.”
About Petrosmith Founded in 1983 as Smith Pipe of Abilene, Petrosmith is dedicated to efficiently designing and manufacturing high-quality, innovative and reliable products for the oil and gas industry. Smith Pipe of Abilene transitioned to Petrosmith to better reflect the variety of offerings and expanded footprint in the industry. Petrosmith is a service-oriented, technologically advanced company, dedicated to time-honored traits of efficiency and high quality in the design and manufacture of products for today’s and tomorrow’s oil and gas industry. For more information, visit petrosmith.com.
About Wellflex Energy Solutions, LLC Wellflex Energy Solutions was founded in 2006 in the heart of the Barnett Shale during one of the most innovative periods in energy industry history. Wellflex was created to deliver quality products on time and improve efficiencies of pad site construction, providing solutions from a standard bare vessel to a fully customized ModFlex™ pad site. With over 100 years of production and process equipment experience, Wellflex is an industry leader in modular production equipment solutions. For more information, visit wellflex.com.
Blue Wolf Capital Announces Expansion of Investment Team and Promotion of Joshua Cherry-Seto
Four Strategic Hires Support Continued Portfolio Growth
Shashank Patel Rejoins the Firm as Principal
Joshua Cherry-Seto Promoted to Managing Director
October 21, 2020, NEW YORK – Blue Wolf Capital Partners (“Blue Wolf”), a New Yorkbased private equity firm, today announced the expansion of its investment team with four strategic hires: Shashank Patel, Greg Singer, Ethan Cooper and David Meyers. Blue Wolf has also promoted Chief Financial Officer and Chief Compliance Officer Joshua Cherry-Seto to Managing Director.
Shashank Patel rejoins the firm as a Principal after working at Apax Partners and Providence
Equity. He first joined Blue Wolf in 2011 and was previously involved in Blue Wolf’s
investments in American Builders Supply, Snappy and Twin Rivers, among others
In addition, Greg Singer, a recent MBA graduate from The Wharton School at the University of Pennsylvania and formerly a Private Equity Associate at Nautic Partners, joins the firm as a Senior Associate; Ethan Cooper, formerly an Analyst in the Middle Market Group at Lazard, joins the firm as an Associate; and, David Meyers, formerly an Investment Banking Analyst in the Restructuring Group at Perella Weinberg Partners, also joins the firm as an Associate.
Joshua Cherry-Seto has been promoted to Managing Director, reflecting his role in managing a wide variety of tax, legal, structuring, compliance and capital raising issues across the portfolio, as well as the commitment he has demonstrated to the firm’s ESG strategy since joining Blue Wolf in 2013. He will continue to remain Chief Financial Officer and Chief Compliance Officer.
“We are thrilled to add such a talented group of experienced individuals to our growing investment team – Shashank, Greg, Ethan and David will each play a critical role in supporting both new and existing investments across our portfolio,” said Adam Blumenthal, Managing Partner of Blue Wolf Capital. “As we navigate this period of economic disruption, our team’s expansion not only reflects the continued growth of our investment pipeline in this environment, but it also ensures we are well-positioned to take advantage of the unique secular trends we expect to see accelerate in each of our investment verticals over the coming year.”
“I am very excited to rejoin the Blue Wolf team at a time when the firm’s long-standing ESGdriven approach to value creation is more vital to investors and to society than perhaps ever before,” said Shashank Patel, Principal at Blue Wolf Capital. “Working with Adam, Jeremy, Charlie, Bennet and other members of the Blue Wolf investment team was an important part of my career early on and I could not be more excited to be back at the firm today.”
Most recently, Blue Wolf announced the sale of Pharmaceutical Strategies Group’s marketleading 340B business to Omnicell after a nine-year investment, reflecting the firm’s long-term ESG-driven approach to creating value. Last year, Blue Wolf also expanded its investment portfolio with the acquisitions of Fox Rehab, ClearSky Health, Kirlin Design Build, and RHA Health Services.
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Blue Wolf Capital Closes on Sale of Pharmaceutical Strategies Group’s 340B Business to Omnicell
PSG’s market-leading 340B Link business is being sold for $225 million nine years after Blue Wolf’s initial investment
PSG built an innovative program providing significant funding to safety net hospitals
Investment reflects Blue Wolf’s long-term, ESG-driven approach
October 2, 2020, NEW YORK – Today, Blue Wolf Capital Partners (“Blue Wolf”), a New York-based private equity firm, announced the completion of the sale of Pharmaceutical Strategies Group’s 340B business (“PSG”) to Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies. PSG’s 340B Link business is being acquired for $225 million, and the sale marks the exit of Blue Wolf’s last portfolio company in Blue Wolf Capital Fund II. Additional terms of the transaction were not disclosed.
Blue Wolf invested in PSG in 2011 in a rapidly changing healthcare environment. Building on vast regulatory expertise, and backed with Blue Wolf’s capital, PSG partnered with safety net hospitals to implement solutions to set up and administer a recently expanded federal program known as 340B, which today delivers a $14 billion annual lifeline from drug manufacturers to America’s rural and urban safety net hospitals. Blue Wolf’s long-term investment and focus on human capital and organizational transformation helped PSG become the industry leader in this vital part of America’s healthcare infrastructure.
“With our government and hospitals facing enormous financial pressure during the COVID-19 crisis, the value of funding from the 340B program enabled by PSG’s 340B Link solutions to hospitals that care for America’s most vulnerable population has been demonstrated more clearly than ever before. We’re incredibly proud to have partnered with David Borden and PSG to build this important business,” said Adam Blumenthal, Managing Partner at Blue Wolf. “PSG’s growth over the last nine years illustrates the benefit of being a long-term partner. It also showcases how we use our ESG lens to create value both for our investors and for society. This is an exciting time for the PSG business, and we see Omnicell as an ideal partner for its next phase of growth.”
“Blue Wolf has been a tremendous partner for PSG and has provided us with the necessary
support and resources every step of the way as we built our 340B business,” said Dave Borden,
Chief Executive Officer of PSG. “The Blue Wolf team’s knowledge of the complexities of the
pharmaceutical marketplace and the broader healthcare value chain were essential in building
this business, and we look forward to further expanding upon this growth with Omnicell.”
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
About Pharmaceutical Strategies Group (PSG) For more than 25 years, Pharmaceutical Strategies Group (PSG), based in Plano, Texas, has been relentlessly advocating for clients as they navigate the complex and ever-changing challenges of drug cost management. PSG’s innovative consulting and technology solutions, including the proprietary data and analytics platform, Artemetrx, deliver actionable insights with exceptional financial and clinical value. As the largest independent pharmacy benefit consulting firm in the U.S., PSG functions as a strategic partner to self-insured employers, health plans, brokers, coalitions, and health systems, generating more than $4.8 billion in drug cost savings each year. For more information, please visit www.psgconsults.com.
About Omnicell Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the Autonomous Pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 6,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 40,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.
ClearSky Health Opens New Inpatient Rehabilitation Hospital in Rio Rancho, New Mexico
Expected to bring about 100 additional jobs to community
ClearSky Health, a rehabilitative healthcare provider, today announced plans to open an inpatient rehabilitation hospital in Rio Rancho, New Mexico. It’s expected to create about 100 new healthcare related jobs locally.
The hospital, called ClearSky Rehabilitation Hospital of Rio Rancho, will provide post-acute rehabilitative care to individuals living with disabling injuries or illnesses such as strokes, brain injuries, hip fractures, Parkinson’s disease, or other debilitating events.
ClearSky Health signed a lease agreement with Westside Blvd. Capital Group, LLC, for the facility located at 2401 Westside Boulevard SE. Renovations will begin on the 33,292-square-foot building this month, with plans to admit the first patient in late fall.
“Sandoval Economic Alliance has worked with ClearSky Health since 2019, and we are thrilled to see our collaborative efforts come to fruition,” says Bridget Condon, Director of Business Development, Sandoval Economic Alliance. “This is a win for Rio Rancho and the surrounding communities not only because of the jobs ClearSky Health will create, but because of the quality care and services they will provide. ClearSky Health is a perfect example of the top-notch businesses that our community can attract. Their commitment to Rio Rancho bolsters our already strong healthcare reputation that companies and employees in all sectors find attractive. We are excited to celebrate their announcement today as well as their successes to come.”
“The assistance provided by the Sandoval Economic Alliance was imperative to our due diligence process,” says Darby Brockette, CEO of ClearSky Health. “We appreciate their support and that of the local community and medical leadership in helping us select the Rio Rancho location. The area currently has an unmet need for rehabilitative services that’s expected to grow as the area’s population continues to increase. We feel we can positively impact the community by providing a higher, specialized level of rehabilitative care that allows individuals to remain closer to their homes, families, and primary care providers.”
ClearSky Rehabilitation Hospital of Rio Rancho will consist of 25 private patient rooms and is expected to treat about 600 patients annually. Physician-led rehabilitative services will include physical, occupational, and speech therapy; rehabilitative nursing; case management; respiratory therapy, dietary services, and other specialized care.
“In addition to our inpatient services, we will continue to coordinate and manage our patients’ ongoing healthcare needs after they leave the hospital,” Brockette says. “This can include outpatient therapy, case management, or other services as needed.”
ClearSky Health is a premier rehabilitative healthcare provider that collaborates with healthcare
facilities to improve, expand, or introduce rehabilitative services to communities served. Its management
team has expertise in design, development, implementation, and operation of rehabilitative services.
Adam Blumenthal’s Morning Consult OpEd: This Is How President Trump Can Quickly – and Safely – Reopen the Economy
BY ADAM BLUMENTHAL
It’s the biggest debate in America today.
President Donald Trump and some Southern governors want to reopen the economy as soon as possible. Many others want to proceed more cautiously, preferring people stay home until there’s more certainty around the containment of COVID-19.
But this debate – around “reopening the economy” or “staying home” – is misguided. It’s far too simplistic.
Trump doesn’t need to decide when to reopen America. He has better options he can pursue immediately.
We all feel the devastating impacts of a deadly, infectious disease that has taken tens of thousands of lives, and wiped away 26 million jobs in only four weeks. We’re in the throngs of a pandemic and a depression.
Interestingly, despite all this pain, our economy isn’t actually shut down – many people who were working on Feb. 15 are still working today. In the very same job. While employers are under great economic stress and many workers are enduring great personal risk, the majority of Americans are either doing their jobs remotely, or continuing to do the same essential work on the front lines.
Despite a strong, understandable desire to stem economic losses, no new mandate will snap the economy back to where things were before – broad levels of reasonable fear of illness and concern of others will keep that from happening fully until we have a vaccine, and probably not for some time after that.
That’s why Trump does not need to pick a date to “reopen” – instead he can take three actions now that would improve the economy, protect people’s health and safety, and jumpstart a return to our pre-pandemic normal:
Issue clear rules for what it means to work safe and stay safe.
Fund the cost of complying with those rules.
Make testing plentiful so infections are addressed rapidly and aggressively, and implement sophisticated contact tracing.
Let’s start with clear rules for working and staying safe.
Trump and Congress can instruct the Treasury Department, the Federal Reserve and the Department of Health and Human Services – which are the agencies that will disburse most stimulus funding now and moving forward – that any funds flowing to employers to hire and retain workers ought to be tied to creating safe environments for employees and customers.
This isn’t new: America’s businesses have been learning to execute on this approach since March 1. In the past seven weeks, front-line workers in health care, food production, law enforcement, maintenance, delivery services and beyond have been forced to improvise to ensure healthy and safe conditions – their employers now know the cost of that improvisation.
At the investment firm I run, Blue Wolf Capital Partners, we manage businesses that employ over 50,000 people nationwide – most are essential industrial workers and health care providers. Over 95 percent of them are still doing their jobs. We have had to adapt to keep people safe while they do vital work, from building hospitals, to caring for the sick, to ensuring people at home have the goods and services they need to survive. Some have had their hours reduced. Fewer than 2 percent have been furloughed. Less than 0.25 percent have been infected with the coronavirus, and tragically, two nurses – despite everyone’s best efforts – have died of the disease.
What we have learned is applicable to the broader economy: that employees going back to work must have adequate PPE, a frequently and visibly sanitized work area, and ongoing education and training in safe behavior. We have also learned that ergonomic redesign of work practices to allow distancing is a must, as are adequate sick and family leave benefits, along with ample testing at the most technologically advanced level —whether that’s temperature screening or antibody testing. Finally, we know that scaling up thorough contact tracing efforts will slow the spread of the disease and protect more Americans.
Of course, providing all of these things comes with a cost: Across our portfolio, the price tag for these measures is roughly 20 percent of payroll, or $200 per person, per week.
Trump, and his team, can easily work with CEOs to quantify what these costs are for every type of worker in the American economy (the President’s new jobs council could provide this data overnight). These costs should inform how the federal government reimburses employers moving forward.
People at Health and Human Services have started to do this: They are developing metrics, tied to Medicare cost reports, so that health care organizations can seek reimbursement for these costs, even though the precise funding mechanism hasn’t been established yet. That’s a smart step.
Treasury programs, such as the Paycheck Protection Program and the Main Street Lending Program, while injecting needed emergency liquidity and support, have relied far more on conventional financial metrics, which are comfortable and familiar to those of us in finance but have little to do with the realities of operating and being safe, every day. Those programs should be re-engineered around a single goal: fund safety for America’s workers.
Only then will our legitimate fears abate, giving the president, and all of us, confidence to open America back up for business – as soon as possible.
Adam Blumenthal, a former first deputy comptroller of New York City, is founder of Blue Wolf Capital Partners.
Blue Wolf Capital Partners Names John Boncher as Strategic Advisor
FEBRUARY 25, 2020, NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), the New York-based private equity firm, today announced that John Boncher will be joining the firm as a strategic advisor. Mr. Boncher was most recently President and Chief Executive Officer of Cupertino Electric (CEI), one of the largest electrical engineering and construction firms in North America, before retiring in May 2018.
“We are excited to welcome John to our team and believe people like him are what differentiate Blue Wolf: we have a number of accomplished leaders as advisors who help our portfolio companies grow and succeed,” said Adam Blumenthal, Managing Partner of Blue Wolf. “John’s extensive experience driving strategic growth will be invaluable to the firm as we continue to expand our industrial & engineering services portfolio and solidify our relationships across the sector.”
Before being president and CEO of Cupertino Electric, Mr. Boncher served in a number of roles during his nearly thirty-year tenure at the company, including COO, branch manager for San Jose and San Francisco, and project manager.
“I am thrilled to join Blue Wolf, a firm with an established record of turning complexity into opportunity and leveraging ESG principles to build thriving companies that make the world a better place,” said Boncher.
Prior to his roles at Cupertino Electric, Mr. Boncher began his career at Bank of America. He received a Bachelor of Science in Economics from the University of California at Irvine.
About Blue Wolf Capital Partners Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.