We are proud to announce that Blackstone has won in two separate categories in Private Equity International’s inaugural Operational Excellence Awards. These awards honor stand-out examples of value creation by private equity owned companies.
Blackstone’s Graham Packaging winner in Manufacturing & Industrial Sector
PEI’s panel of judges recognized Blackstone’s awareness that midway through our investment of Graham Packaging the company was being affected by a rapidly changing market and higher operating costs. Blackstone immediately changed course, identified the issues and took steps to effect change at the company. The first step was hiring a new CEO and CFO as well as bringing in several Blackstone senior operating partners to join Graham’s board of directors. The new team went on to effect transformational change throughout the company’s operations while growing Graham’s International business and penetrating new market segments. These transformative changes resulted in EBITDA growing by 650% and top line revenue growing from $521.7 million in 1997 to $2.85 billion in 2011.
Blackstone’s Intelenet winner in Business and Financial Services Sector
Blackstone was also awarded the top prize in the category for Asia’s business and financial services, for its work with Intelenet Global Services. Under our ownership Intelenet’s top line revenue grew at a compounded annual rate of 39.7%, while the company’s total enterprise value increased by 258%. We achieved this growth through several bolt-on acquisitions, expanding into new markets to better serve customers, all while providing further investment in people to fuel the companies organic growth and creation of 13,000 jobs.
Check out the full article on Graham and Intelenet’s win here
Blackstone was selected as the winner of the awards referenced herein by a PEI selected panel of judges, based upon submissions of deals partially or fully realized on or after January 1, 2011 across six geographic sectors. The selection of Blackstone to receive the awards was based in part on subjective criteria and a limited universe of participants, and therefore there can be no assurance that a different panel of judges might not have selected other submissions as the winners. The information provided above is solely for informational purposes and should not be construed, or relied upon, as any indication of future performance of Blackstone or any of its funds.