Thursday, April 10, 2008

LA Private Equity Firm Embracing a Different Kind of Green

Beverly Hills- based Omninet Capital (the investment company helmed by billionaire Neil Kadisha) announced an innovative redesign of the manufacturing facility for its Vernon-CA- based PWP industries which makes polystyrene packaging (not the most eco friendly product in the world).

PWP's Texas facility will now use solar power and will heat its facility with energy created by its manufacturing process. The company stated in a press release that "going green" equates with improved customer service.

Neil Kadisha has a track record of going green. His former company, Qualcomm, has earned the distinction of LEED Gold Certification for the W campus. The Leadership in Energy and Environment Design (LEED) Green Building Rating System is the nationally accepted benchmark for the design, construction, and operation of high performance sustainable building.

The trend among private equity investors who control companies that produce products with less-than-stellar environmental impacts, appears to validate the economic benefits of adopting more environmentall friendly practices in industry.