Blue Wolf Capital Partners

Blue Wolf Capital Partners was founded in 2005 by Adam Blumenthal, who previously served as first deputy comptroller for New York City and managed American Capital Ltd,{{Cite web|date=August 14, 2017|title=Adam Blumenthal '89|url=https://som.yale.edu/profile/adam-blumenthal-89|url-status=live|access-date=May 19, 2021|website=Yale School of Management|archive-url=https://web.archive.org/web/20190714183126/https://som.yale.edu/profile/adam-blumenthal-89 |archive-date=July 14, 2019 }} and Josh Wolf-Powers, a managing director for private investments for the New York State Comptroller's office. Blue Wolf utilizes Environmental, Social, and Governance principles and integrates them into its value creation strategies.{{Cite web|url=https://www.privateequityinternational.com/responsible-investment-barking-new-tree/ |title=Barking up a new sustainability tree|date=February 21, 2018|publisher=Private Equity International}} Both Blumenthal and Wolf-Powers initially served as managing partners of Blue Wolf.{{Cite web|last=Primack|first=Dan|date=September 2, 2008|title=Blue Wolf Bites Into $100 Million|url=https://www.pehub.com/blue-wolf-bites-into-100-million/|url-status=live|archive-url=https://web.archive.org/web/20201125114925/https://www.pehub.com/blue-wolf-bites-into-100-million/|archive-date=November 25, 2020|access-date=May 19, 2021|website=PE Hub|language=en-US}} Wolf-Powers has since left the firm for a career as a clinical social worker.{{Cite web|last=McLain|first=Tiffany|date=February 8, 2021|title=The Money Sessions: How Josh Went from Wall Street to Social Work with Zero Ambivalence About Making Bank And Giving Back|url=https://www.heytiffany.com/14650-2/|url-status=live|access-date=May 19, 2021|website=Heytiffany.com|language=en-US|archive-url=https://web.archive.org/web/20210221151700/https://www.heytiffany.com/14650-2/ |archive-date=February 21, 2021 }}

Blue Wolf often invests in companies that are regulated by government policies or receive government subsidies and are facing financial distress or labor issues.{{Cite web|last=Yerak|first=Becky|date=December 3, 2008|title=N.Y. fund awash with area hospital laundry|url=https://www.chicagotribune.com/news/ct-xpm-2008-12-03-0812020393-story.html|access-date=May 31, 2021|website=Chicago Tribune|language=en-US}} The firm's strategy usually focuses on acquiring controlling stakes in companies that are involved in complex challenges including leadership transitions, distress or government regulation.{{Cite web|last=Janiec|first=Chris|date=May 18, 2018|title=Blue Wolf sells two US Southeast sawmills for $200m|url=https://www.agriinvestor.com/blue-wolf-sells-two-us-southeast-sawmills-200m/|access-date=May 31, 2021|website=Agri Investor|language=en-GB}} It has invested in companies with annual revenue of more than $50 million and enterprise values of $500 million.{{Cite web|last=Cooper|first=Laura|date=November 27, 2017|title=LBO Profile: Blue Wolf Embraces Complexity in a Regulated World|url=https://www.wsj.com/articles/lbo-profile-blue-wolf-embraces-complexity-in-a-regulated-world-1511790686|access-date=May 6, 2018|publisher=The Wall Street Journal}}{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=22253175|title=Company Overview of Blue Wolf Capital Partners LLC|date=May 6, 2018|publisher=Bloomberg L.P.|access-date=May 6, 2018}} Its third fund closed in July 2013 after raising more than $300 million. Its fourth fund of $540 million closed in October 2017.{{Cite web|url=http://www.finalternatives.com/node/36055|title=Blue Wolf Capital Partners Raises $540M For Oversubscribed Fourth Fund|date=October 23, 2017|website=FINalternatives|access-date=May 6, 2018|archive-url=https://web.archive.org/web/20180612143950/http://www.finalternatives.com/node/36055|archive-date=June 12, 2018|url-status=dead}}{{Cite web|last=Leach|first=Kamaron|date=October 23, 2017|title=Blue Wolf raises new PE fund, following StateServ purchase|url=https://www.themiddlemarket.com/news/blue-wolf-raises-private-equity-fund-stateserve-purchase|url-status=live|access-date=May 31, 2021|website=Mergers & Acquisitions|language=en-US|archive-url=https://web.archive.org/web/20180507085546/https://www.themiddlemarket.com/news/blue-wolf-raises-private-equity-fund-stateserve-purchase |archive-date=May 7, 2018 }} Its fifth and most recent fund of $1.1 billion was raised in April 2022.{{Cite web |date=2022-04-04 |title=Blue Wolf Capital Successfully Closes Fund V at $1.1 Billion |url=https://www.businesswire.com/news/home/20220403005109/en/Blue-Wolf-Capital-Successfully-Closes-Fund-V-at-1.1-Billion |access-date=2023-11-15 |website=www.businesswire.com |language=en}}

Blue Wolf initially acquired several companies including Finch Paper Holdings, Northern Pulp Nova Scotia Corp., and Montauk Energy Capital.{{Cite web|last=Primack|first=Dan|date=September 2, 2008|title=Blue Wolf Bites Into $100 Million|url=https://www.pehub.com/blue-wolf-bites-into-100-million/|url-status=live|archive-url=https://web.archive.org/web/20201125114925/https://www.pehub.com/blue-wolf-bites-into-100-million/|archive-date=November 25, 2020|access-date=May 26, 2021|website=PE Hub|language=en-US}} In 2008, Blue Wolf's second fund acquired two laundries from Chicago hospitals, merging them into Healthcare Laundry Systems and selling it in 2011 after increasing its volume by 70%.{{cite web|last=Yerak|first=Becky|date=December 3, 2008|title=N.Y. fund awash with area hospital laundry|url=https://www.chicagotribune.com/2008/12/03/ny-fund-awash-with-area-hospital-laundry/|url-status=live|access-date=July 3, 2018|website=Chicago Tribune|archive-url=https://web.archive.org/web/20180704034543/http://articles.chicagotribune.com/2008-12-03/news/0812020393_1_hospital-laundry-distressed-businesses-private-equity |archive-date=July 4, 2018 }}{{cite web|url=http://www.crainsnewyork.com/article/20140410/HEALTH_CARE/140419978/private-capital-transformed-health-care-outside-ny|title=Private capital transformed health care—outside NY|last=Ivanova|first=Irina|date=April 10, 2014|publisher=Crain's New York|access-date=July 3, 2018}} Through this investment Blue Wolf won the 2011 Small Market Deal of the Year award from Buyouts Magazine.{{cite web|url=https://americanlaundrynews.com/articles/blue-wolf-wins-small-market-deal-award-hls-investment|title=Blue Wolf Wins Small Market Deal Award for HLS Investment|date=June 27, 2012|publisher=American Laundry News|access-date=July 3, 2018}} The firm had previously won the same award in 2008 for its investment in Montauk Energy Capital.{{cite web|url=https://www.pehub.com/2008/09/blue-wolf-bites-into-100-million/|title=Blue Wolf Bites Into $100 Million|last=Primack|first=Dan|date=September 2, 2008|publisher= PE Hub| access-date=July 3, 2018}}

In 2017, Blue Wolf invested $20 million to revive a sawmill in Glenwood, Arkansas, that had declared bankruptcy during the Great Recession. The company joined the portfolio as Caddo River Forest Products and directly created 130 jobs.{{Cite web|url=http://www.capitalpress.com/Profit/20170609/arkansas-town-sees-more-jobs-with-sawmill-revival|title=Arkansas town sees more jobs with sawmill revival|date=June 9, 2017|publisher=Capital Press|access-date=May 6, 2018}} In May 2018, Blue Wolf sold Caddo River and Suwannee Lumber Co., which it had invested in 2013, to Conifex Timber for a total of $258 million in cash and shares.{{cite web|url=https://business.financialpost.com/pmn/business-pmn/conifex-buying-u-s-sawmills-for-258-million-to-add-50-per-cent-more-capacity|title=Conifex buying U.S. sawmills for $258 million to add 50 per cent more capacity|date=May 15, 2018|publisher=Financial Post|access-date=July 3, 2018}}{{Cite web|last=Dalheim|first=Robert|date=July 10, 2018|title=Suwannee Lumber and Caddo River Forest sold to Conifex Timber|url=http://www.woodworkingnetwork.com/news/woodworking-industry-news/suwanee-lumber-and-caddo-river-forest-sold-conifex-timber|url-status=live|access-date=May 26, 2021|website=Woodworking Network|language=en|archive-url=https://web.archive.org/web/20201201121515/https://www.woodworkingnetwork.com/news/woodworking-industry-news/suwanee-lumber-and-caddo-river-forest-sold-conifex-timber |archive-date=December 1, 2020 }}

In February 2018, Blue Wolf acquired a majority stake in Petrosmith, an Abilene, Texas-based manufacturer of storage tanks.{{Cite news|date=February 12, 2018|title=Blue Wolf Buys Majority Stake in Petrosmith|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/blue-wolf-buys-majority-stake-in-petrosmith-1518474488|access-date=May 31, 2021|issn=0099-9660}} In April 2018, Blue Wolf announced a merger between two of its home-based care providers – Great Lakes Caring and National Home Health Care — with Jordan Health Services, to create one of the largest providers of home-based care in the nation known as Elara Caring.{{Cite web|last=Mullaney|first=Tim|date=July 17, 2018|title=Jordan, Great Lakes, National Home Health Rebrand as Elara Caring|url=https://homehealthcarenews.com/2018/07/jordan-great-lakes-national-home-health-rebrand-as-elara-caring/|access-date=May 31, 2021|website=Home Health Care News|language=en-US}} The new company serves more than 65,000 patients on a daily basis and employs more than 32,500 caregivers in 225 locations in 16 US states.{{Cite web|url=https://www.businesswire.com/news/home/20180410006292/en/Great-Lakes-Caring-National-Home-Health-Care|title=Great Lakes Caring, National Home Health Care, and Jordan Health Services Merge to Become Leader in Home-Based Care|date=April 10, 2018|website=Business Wire|access-date=May 6, 2018}}{{Cite web|last=Holly|first=Robert|date=January 8, 2020|title=Blue Wolf Capital Partners Names COO; Better Medicare Alliance Hires Policy Director|url=https://homehealthcarenews.com/2020/01/blue-wolf-capital-partners-names-coo-better-medicare-alliance-hires-policy-director/|access-date=May 31, 2021|website=Home Health Care News|language=en-US}}

In May 2019, Blue Wolf acquired Fox Rehabilitation, an in-home medical care provider for seniors under Medicare Part B.{{Cite web|last=Pringle|first=Sarah|date=May 6, 2019|title=Blue Wolf acquires Fox Rehabilitation after bank-run process stalled|url=https://www.pehub.com/blue-wolf-acquires-fox-rehabilitation-after-bank-run-process-stalled/|access-date=May 31, 2021|website=PE Hub|language=en-US}} In October 2020, Blue Wolf sold Pharmaceutical Strategies Group, a Plano, Texas-based consulting firm for pharmacy benefits to Omnicell for $225 million.{{Cite web|last=Shen|first=Lucinda|date=October 5, 2020|title=Alibaba's making an opportunistic investment in Dufry|url=https://fortune.com/2020/10/05/alibabas-making-an-opportunistic-investment-in-dufry/|url-status=live|access-date=May 31, 2021|website=Fortune|language=en|archive-url=https://web.archive.org/web/20201021140952/https://fortune.com/2020/10/05/alibabas-making-an-opportunistic-investment-in-dufry/ |archive-date=October 21, 2020 }} In March 2021, Blue Wolf acquired an Oakbrook Terrace, Illinois-based manufacture of caster and wheels, Colson Group.{{Cite web|last=Sraders|first=Anne|date=March 2, 2021|title=SPACs just had a record-setting monster month|url=https://fortune.com/2021/03/02/spacs-just-had-a-record-setting-monster-month/|url-status=live|access-date=May 31, 2021|website=Fortune|language=en|archive-url=https://web.archive.org/web/20210302153648/https://fortune.com/2021/03/02/spacs-just-had-a-record-setting-monster-month/ |archive-date=March 2, 2021 }}

{{reflist}}

• {{Official website|https://www.bluewolfcapital.com/}}

Category:Financial services companies established in 2005

Category:Private equity firms of the United States

Category:Financial services companies based in New York City

Category:Privately held companies based in New York City