AIC Launches Nationwide Press Tour Ahead Of “Small Business Saturday”
Media coverage spanning Texas, Georgia, South Carolina, Ohio, Florida and D.C. highlights how private equity supports small businesses nationwide
WASHINGTON, D.C. – Ahead of Small Business Saturday on November 25th, the American Investment Council (AIC) launched a nationwide press tour to spotlight how private equity is supporting small businesses and local jobs.
AIC’s Drew Maloney, Emily Schillinger, and Jamal Hagler spoke with local media outlets across the country about how private equity is investing in neighborhood businesses and supporting companies that families rely on for gifts and their favorite holiday traditions. Please see the following excerpts below:
Featuring Local Small Businesses Backed by Private Equity
KYXL-FM (Abilene, TX) – Maloney: “A great example in Abilene is Prairie Dog Pet Products. It’s a marketer of premium American made dog treats. They partnered with private equity several years ago and that allowed them to expand. They now have distribution facilities throughout Texas, Colorado and Washington. They also have more experts in marketing, technology, and supply chain in order to expand their business. So you can now buy these Prairie Dog Pet Products on chewy.com, on Amazon, and throughout the country. It’s a great story of how a small business was able to partner with private equity and really expand its product across the country in just a few years.”
ECIV-TV (Charleston, SC) – Schillinger: “There’s Marolina, an outdoor apparel outfitter in Charleston. They received private equity investment… There is also RMS Beauty, which is in Charleston. That’s a company that has received private equity. There are companies across the state that are stronger now because of private equity.”
Business First AM (National) – Hagler: “[Some examples are] the toy company Melissa & Doug, which makes toys that someone would buy for the holiday season. Kilwins Chocolate, which started off in Michigan and has now expanded throughout the country. Simon & Schuster, Shutterfly, and more. There are thousands and thousands of private equity backed businesses across every state and district.”
WCPO-TV (Cincinnati, OH) – Maloney: “There’s a great example just up the road in Hamilton: 80 Acres Farm that was founded by two people in 2015. They had a great idea of building indoor, vertical farming so they can grow produce, mainly lettuce and salads for stores. They started with just one quarter acre facility… They took private equity money so they could expand and grow, and now they have farms in Kentucky and in Georgia. They started just supplying one store – one Kroger in Cincinnati – and today they supply more than a thousand stores across the Southeast and Midwest. It’s these types of stories and these types of partnerships that private equity is really proud of.”
Highlighting The Value of Private Equity to Small Business Owners:
WCPO-TV (Cincinnati, OH) – Maloney: “All of us agree that small businesses are necessary for the communities that we live in. Both sides of the aisle will agree with me on that. Supporting policies that increase capital and that allow small businesses to survive is really important. Small businesses need two things – they need certainty so they can continue to invest and they need access to capital so they can succeed and grow. That’s what policymakers need to ensure happens.”
ECIV-TV (Charleston, SC) – Schillinger: “If you think about private equity, one thing to think about is from a small business owner’s perspective. There are small businesses across the country, and definitely in Charleston, that have a great idea, they grow their company, but then they need to partner with somebody sometimes – like private equity – to get more access to capital, more help with management, or better technology. That’s what private equity does. They really work side by side with small business owners across the country to help grow their businesses, support jobs and deliver better services.”
WOCA-AM (Orlando-Daytona Beach-Melbourne, FL) – Hagler: “Private equity is different from other investments because private equity investors roll up their sleeves and work side-by-side with the business managers to achieve change and help with business growth.”
WAOK-AM (Atlanta, GA) – Hagler: “Private equity invests in a variety of businesses throughout the country – in fact, 85% of those businesses are small businesses. Private equity provides not only capital, but it provides expertise, helping businesses navigate whatever comes in their way, lower the cost of their supplies, and expand new distribution channels.”
WDPN-AM (Cleveland-Akron, OH) – Maloney: “Not only do small business owners benefit by getting capital and access to industry-wide expertise, but the employees benefit too. The U.S. private equity sector employs more than 12 million individuals, and investment often leads to higher compensation and better benefits, including improved healthcare, longer parental leave, and other benefits that can help the employees in the community.”
WCBC-AM (Washington, DC – Hagerstown) – Hagler: “Small businesses are dealing with challenges, like rising labor costs and rising capital costs. Private equity and private capital are here to help those small businesses weather the storm and come out stronger on the other side.”
