CLEVELAND / October 24, 2024 / Blue Point Capital Partners is proud to introduce the Blue Point Cares Program, an initiative aimed at providing charitable relief funds for Blue Point portfolio company employees facing unexpected personal hardships.
Blue Point Cares is designed to offer financial assistance during critical moments, such as unforeseen medical expenses, property damage, family bereavement or transportation issues. Blue Point will contribute funds to establish the program upon closing individual platform investments.
“When our employees succeed, we all succeed,” said NSA President Chuck Grossman, whose company is the first Blue Point portfolio company to implement the initiative. “We’re appreciative of Blue Point Cares as an additional resource to help our NSA team members during challenging times.”
The program will primarily be managed by Canary, a third-party provider that specializes in administering employee relief funds. Canary will oversee the grant application and approval process, ensure compliance with IRS regulations and manage day-to-day administration.
“When 60% of Americans experience financial shocks each year, it's imperative to expand the safety net for individuals experiencing these sudden hardships,” said Canary Founder & CEO Rachel Schneider. “Blue Point is setting a standard in the private equity industry — one that prioritizes care and support for the well-being of their portfolio company employees.”
“Blue Point has always been committed to supporting the well-being and prosperity of our portfolio company employees, and the Blue Point Cares Program is a meaningful, tangible way to extend that support, especially during some of life’s toughest moments,” said Blue Point Partner Jonathan Pressnell. “We’re proud to roll out this impactful initiative, reflecting our deep appreciation for the hardworking individuals who contribute to the success of our portfolio companies every day.”
Canary’s technology and services enable their clients — employers, investment firms, nonprofits and others — to give individuals money at pivotal moments in their lives, with dignity and efficiency. They connect the latest technology and payments innovations to the innate and enduring human desire to help each other.
Blue Point Capital Partners is a private equity firm managing over $1.8 billion in committed capital. With nationwide resources, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve growth. Blue Point’s portfolio is supported by its unique capabilities — which include an integrative team focused on innovative global supply chain, data and digital and human capital strategies — as well as its extensive experience, network of industry resources and focused M&A efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
For more information, contact:
Blue Point Capital Partners
Jonathan Pressnell
Partner
Note: Certain statements about Blue Point Capital Partners made by portfolio company executives herein are intended to illustrate Blue Point Capital Partners’ business relationship with such persons, including with respect to Blue Point Capital Partners’ facilities as a business partner, rather than Blue Point Capital Partners’ capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Blue Point Capital Partners-sponsored vehicles.