2019 was another strong year for ClearLight. We were pleased to complete one new platform investment, several add-ons and one exit.
Continuing on our recent successes in franchising, we were delighted to make a new investment into Handel’s Ice Cream, an operator and franchisor of premium ice cream shops. Many families and other customers already appreciate what we know to be true, that Handel’s is on its way to becoming America’s favorite place to have ice cream. We were also pleased to see our Orangetheory franchisee, Austin Fitness Group, complete add-on acquisitions to expand its scale and presence into new markets. In total, we are now operating over 60 Orangetheory studios across Arizona, Kansas, Oklahoma, Pennsylvania and Texas. Lastly, we exited our investment in Richardson, a leading provider of tech-enabled, enterprise sales training solutions to the Global 1000. We wish the talented Richardson team the very best of luck leading their organization under new ownership.
The private equity industry continues to evolve, but a constant for us has always been an excellent network of people that have helped us achieve great results in the numerous sectors in which we are invested.
Here’s to a prosperous 2020 to you all. Many thanks for your past and future contributions!
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