At The Saratoga Forum, Upstate Capital hosted a panel discussion spotlighting the revival of Crane, a 224-year-old company, by WP Strategic Holdings. The conversation focused on how WP Strategic Holdings, led by Todd, restructured Crane while preserving its rich legacy of artisan craftsmanship. This panel reinforced Upstate Capital’s commitment to community impact and private equity strategies that prioritize long-term business sustainability and employee well-being.
Todd, the managing partner of WP Strategic Holdings, shared the unique approach taken in acquiring and restructuring Crane. The company was in jeopardy during the acquisition of its parent company, Mohawk Fine Papers, but WP Strategic Holdings stepped in to save it.
Through a complex 28-day negotiation process, Todd emphasized the importance of trust and the central role that Crane’s employees played in the company’s future. This employee-centric philosophy is a cornerstone of WP Strategic Holdings’ approach to private equity, aligning with the fund’s values of fostering long-term success rather than focusing solely on immediate financial returns.
Todd also discussed the challenges of restarting Crane after its shutdown, including regaining the trust of employees and customers. He highlighted how Crane is now focused on luxury stationery, reviving the brand by combining its heritage with modern innovations, including collaborations with tech companies to offer unique, customized products. This approach has positioned Crane for growth, while remaining true to its legacy.
The panel wrapped up by exploring how WP Strategic Holdings represents a kinder, more strategic form of private equity—one that is deeply committed to the community and the success of heritage brands like Crane.