For 35 years we have been privileged to invest behind inspiring businesses with talented management teams to help them grow. 2022 marked another exciting year. We invested in three new platform companies – one in each of our focus sectors. We also completed three add-on acquisitions and one transformative merger. We elevated and attracted exceptional talent, leveraged our strategic/operating executive network in new ways, and built upon the strength of our expertise and reputation in core target sectors.

We are proud of the difference we are making, not only within our portfolio, but also through the efforts of our ESG and DEI programs. We believe ESG considerations are crucial for ensuring ethical and responsible investment practices, as well as enhancing performance and reducing risk. Further, as part of our culture of integrity, transparency, and respect, we believe that elevating diverse perspectives will lead to better outcomes for both our investors and the communities in which we operate.

The current uncertain macroeconomic environment is challenging to navigate, but also offers new pathways for interesting, creative investments where Vestar’s value-add is a differentiator. In the face of rising interest rates, geopolitical volatility, and challenging labor and supply chain dynamics, we remain committed to our long-standing, time-tested investment strategy and philosophy. We enter the year ahead with an appropriate degree of prudence, but emboldened by the strength and passion of our organization and management team partners. On behalf of everyone at Vestar, we thank you for your continued trust and support.