The sale of Sage Products to Chicago investment firm Madison Dearborn Partners was completed earlier this month.
The Cary-based health care products manufacturer is one of the largest employers in McHenry County, with a staff of about 700.
Sage will keep its name and will retain local leadership, and part of the company will continue to be owned locally. That’s good news.
We’re also happy to hear that Madison Dearborn will continue with plans to add up to 250 additional jobs after a recent 170-square-foot expansion to its Cary headquarters and production facility. More than half of that $7.5 million expansion project was funded with federal stimulus bonds funneled through the McHenry County Board.
Just as importantly as saving – and growing – local jobs is maintaining the outstanding philanthropic spirit of the company.
Sage has been a shining example of what good corporate citizenship is all about.
Largely because of the community-minded focus of the company’s founders, Vincent Foglia and Paul Hills, Sage has been a generous benefactor to many local nonprofit causes.
Sage and its management team have donated millions of dollars to human service agencies and other programming that helps children and adults in need. Among the recipients of Sage’s generosity are the YMCA in Crystal Lake (which now bears the Sage name), the United Way of Greater McHenry County, Pioneer Center for Human Services, area food pantries, Operation Support Our Troops, Centegra Health System, and far too many others to name.
Other companies that want to give back to their communities need look no further than Sage for plenty of examples of how they can do so.
The new ownership insists that Sage will continue to be a good corporate citizen to local causes. That is outstanding news.