Trott’s BDT Capital said to seek $9 bln; Hycroft is apparently shutting down; Lindsay Goldberg to buy PT Solutions
Happy Thursday, Hubsters.
ESG gets mentioned a lot but I don’t really see too many firms actually take action. I was surprised, and happy, when I saw an announcement by AUA Private Equity Partners. Led by Managing Partner Andy Unanue, AUA has launched an English as a Second Language program at its portfolio company, Raymundos Food Group.
Every Monday, Thursday and Saturday, teachers from Workplace Languages hold ESL classes in Raymundos’s cafeteria. AUA chose Raymundos because a majority of its workers are Hispanic. Raymundos, of Bedford Park, Illinois, makes and markets branded refrigerated snacks like gelatins, flans and pudding and has been expanding into better-for-you products like smoothies, yogurts and dips.
AUA is offering the ESL program free to Raymundos’s roughly 200 employees, many of whom work in manufacturing or in the warehouse or provide general office services. “We have a very diverse employee base,” Unanue said. “Some are immigrants, some are first or second generation.”
The program has already started; the first ESL class was held on Thursday, May 31. More than 40 employees took part, said Carla Langerhorst, who manages AUA’s investor relations. The ESL program is also open to families of Raymundos employees, Langerhorst said.
It was a potential LP that actually came up with the idea for ESL classes, Unanue said. “He asked if we were doing anything to help employees assimilate into the culture,” Unanue said. But it was Langerhorst and Ari David, an AUA investment professional, who worked on the project with Raymundos human resources, taking four to five months to make it a reality.
If successful, Unanue hopes to expand the ESL program to AUA’s other portfolio companies. Classes may also include financial planning and safe borrowing practices. “This isn’t just a philanthropic effort,” Unanue said. “This is to create a sustainable growth.”
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