Long-term vision designed to achieve true potential: That describes HBM’s strategy for capital deployment, but it also summarizes the philosophy behind our ongoing investment in education. One example is HBM’s scholarship program, which supports the college-ready children of our portfolio companies’ employees. On June 29th, we honored this year’s scholarship awardees with an annual luncheon, which was also attended by the students’ parents and representatives from each business leadership team.
The program invites children of portfolio company employees to apply for an HBM sponsored scholarship. The students’ anonymous credentials are evaluated by an employee committee, which chooses the scholarship awardees based on the students’ GPA, standardized test scores and submitted essays. HBM’s program has two scholarship categories: four-year scholarships of $5,000 per year, and two-year scholarships of $2,500 per year. This year we expanded the total number of scholarships from six to eight — with an additional award in each scholarship category — to reflect our larger portfolio and reinforce our commitment to education, our employees and their families. Five students received the $5,000-per-year award and three received the $2,500-per-year award.
The program now has scholarship recipients from every company in the HBM portfolio. This year’s student winners have parents employed at Mississippi Lime, Aerofil and Schafer (which included twin brothers as scholarship winners). At the June luncheon, the recipients introduced their parents and shared their plans for college.
The scholarship program embodies our belief in the importance of making investments in people and our communities, particularly when those investments help young people fulfill their potential. That includes our support for College Bound, a St. Louis based non-profit that assists promising students from economically disadvantaged backgrounds who seek bachelor’s degrees and fulfilling careers. HBM recently participated in a College Bound event that raised more than $1 million for the non-profit. In addition, Amy Fields, HBM’s VP and Chief Human Resources Officer, serves on the College Bound board and is actively involved in helping students prepare themselves for college.
Our scholarship program reflects a longstanding commitment to our employees, to their families and to the importance of education. For more than 20 years, we have awarded the children of our portfolio companies’ employees with college scholarships. It’s a reflection of our deep and time-honored commitment to supporting not only educational attainment but also the value of investing in our employees and their families.