ClearLight Partners Successfully Exits Its Investment in Taymax

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NEWPORT BEACH, CA August 1, 2018 – Private equity firm ClearLight Partners announced today that it has sold Taymax Group Holdings, LLC (Taymax) to Trilantic North America for an undisclosed amount.

Headquartered in Salem, New Hampshire, Taymax is one of the largest and fastest-growing franchisees in the Planet Fitness system. Taymax owns and operates more than 50 Planet Fitness clubs in the greater San Antonio, Corpus Christi, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa regions. Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. Its mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which it calls the Judgement Free Zone®.

ClearLight invested in Taymax in 2013 and, in partnership with Taymax’s management team, supported the growth of the company. During ClearLight’s ownership, Taymax grew from 12 to over 50 Planet Fitness clubs and became a leading franchisee, being recognized as Franchisee of the Year and twice as Developer of the Year. “Taymax achieved fantastic success because of its talented, committed team and the strength of the Planet Fitness model. The Taymax team is exceptionally hard working and a great group of people to work with. It was very rewarding to have an exceptional outcome and genuinely have fun with the management team along the way,” said Josh Mack, a Partner at ClearLight.

“ClearLight made us a better company. They provided the support we needed to grow from 12 to 52 clubs in less than 5 years. I’m thankful for their guidance – Taymax is well positioned to continue growing as a result,” said Tim Kelleher, President of Taymax. “I’m excited to continue leading Taymax and bring the Judgement Free Zone® to more and more communities.”

“We are very proud of Tim Kelleher, the rest of the team at Taymax and of their many accomplishments. We look forward to seeing Tim and Taymax achieve continued success under Trilantic North America’s ownership,” commented Michael Kaye, Managing Partner of ClearLight.

ClearLight was advised by Harris Williams and Kirkland & Ellis, LLP.

About ClearLight Partners

ClearLight Partners is a private equity firm in Southern California that invests in established, profitable middle-market companies with significant growth potential. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. The team at ClearLight has extensive operating and financial experience and has a history of successfully partnering with owners and management teams to drive growth and create value.

For more information, please visit www.clearlightpartners.com.

Michael Kaye Shares Lessons Learned in Interview for Inc.com

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Buying or selling a business can be the most exciting and terrifying time for a business owner. Whether you’re starting, growing or exiting a company, it’s important to have the right team to support you at each stage of your business life. If you’re lucky, you build a company with strong brand equity that’s viable far after you have exited. When that’s the case, it’s usually time to work with a private equity group to make some difficult decisions.

Read more

ClearLight Partners Invests in Paul Fredrick

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NEWPORT BEACH, Calif. Private equity firm ClearLight Partners announced today that it has made a majority investment in Paul Fredrick, a leading designer and direct-to-consumer retailer of men’s apparel and related accessories. Terms of the transaction were not disclosed.

Paul F. Sacher, Founder of Paul Fredrick, commented, “Over the years, we have remained true to our original mission – to offer high quality men’s dress and casual shirts at a great value. The management team and I are excited to have ClearLight support the Company as it enters its next phase of growth. Paul Fredrick will remain committed to providing great style at everyday prices, along with excellent service to our customers.”

Josh Mack, a Partner at ClearLight, stated, “We are excited to partner with Paul Fredrick. Paul Sacher and the management team have built a great business that provides compelling style and value to consumers. We believe Paul Fredrick is well positioned for continued growth and success.”

Michael S. Kaye, Managing Partner at ClearLight, added, “We are impressed with Paul Fredrick’s high-quality products, the brand’s rich heritage, and the Company’s loyal following of customers. We look forward to working with the management team to support the next phase of the Company’s development.”

Paul Fredrick was advised by KSCA | Investment Banking (www.ksca.com). ClearLight was advised by DANU Capital Group (www.danucapital.com).

About Paul Fredrick

Founded in 1986, Paul Fredrick is a leading designer and retailer of men’s apparel and related accessories. Paul Fredrick sells merchandise direct-to-consumers through its catalogs and website. Paul Fredrick is headquartered in Fleetwood, PA. For more information, please visit www.paulfredrick.com.

About ClearLight Partners

ClearLight Partners is a private equity firm in Southern California that invests in established, profitable middle-market companies with significant growth potential. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. The team at ClearLight has extensive operating and financial experience, and has a history of successfully partnering with owners and management teams to drive growth and create value.

For more information, please visit www.clearlightpartners.com.

Contacts

ClearLight Partners, LLC
Josh Mack, 949-725-6625
jmack@clearlightpartners.com
Doug Scherrer, 949-725-6655
drs@clearlightpartners.com

ClearLight Partners Announces Team Growth with New Principal and Associate

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NEWPORT BEACH, Calif.—ClearLight Partners, a leading Orange County investment firm with a seventeen-year track record of investing in private companies and helping them achieve their long-term growth aspirations, is pleased to welcome Doug Scherrer and Matt Fobbe to its growing team.

Doug Scherrer will join as a Principal, working to source and execute new investment opportunities and to assist in the governance of ClearLight’s existing portfolio of great companies. Scherrer has more than 14 years of experience across private equity, management consulting and operational roles and brings a blend of investment and operational capabilities to the firm. Scherrer’s most recent experience includes serving as the CFO at Nubank, a high-growth credit card issuer based in Brazil. In this role, he helped lead Nubank through a period of accelerated and successful growth, contributing to key strategic decisions and the company’s equity and debt financings. Prior to Nubank, Scherrer was the CFO of Oasis Collections, a full-service short-term rental marketplace that began in South America. From 2005 to 2013, Scherrer held a succession of roles at General Atlantic, a leading global private equity firm, where he was based out of their New York and São Paulo offices. He was involved with General Atlantic’s investments in RiskMetrics, KCG Holdings, BM&F Bovespa, Qualicorp, Linx, Aceco TI, and Quality Technology Services. He began his career with the Boston Consulting Group as an Associate in its New York office. Scherrer is a Princeton University graduate with a degree in economics, Magna Cum Laude.

“Doug is an exciting addition to our team,” said the firm’s Managing Partner Michael Kaye. “His combined experiences will be an asset to ClearLight’s success by bringing a diversity of perspectives and new connections to the firm. Further, his background reinforces our emphasis on the value of having both operating and investment backgrounds on our team. This blend helps us better understand and work with the management teams at our portfolio companies as they go after opportunities and address challenges in their businesses.”

Matt Fobbe joins the team as an Associate, where he will support the execution of new investments and also work with ClearLight’s current companies. Fobbe’s professional background includes a role at Piper Jaffray in Minneapolis, where he was an Analyst in the healthcare investment banking group. Fobbe is a graduate of the University of Minnesota where he was an accounting and finance major.

 

 

 

For additional information about ClearLight Partners’ newest team members, please visit: www.clearlightpartners.com.

 

 

About ClearLight Partners

ClearLight Partners, LLC is a private equity firm in Southern California that invests in established, profitable middle-market companies across a range of industries. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. Our team has extensive operating and financial experience, and we have a history of successfully partnering with owners and management teams to drive growth and create value.
For more information, please visit www.clearlightpartners.com

ClearLight Partners Invests in Moore Landscapes

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Moore Landscapes team at The Crystal Gardens on Navy Pier. Left to right: Victor Moore, Joel Korte, Eric Moore, Andrew Brennan (Photo: Business Wire)

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Private investment firm ClearLight Partners announced today that it has made a majority investment in Moore Landscapes, a premier Chicagoland provider of landscape installation, maintenance, enhancement, and snow services, as well as interior plant maintenance. Eric and Victor Moore, long-time owners of the Company, remain equity holders and Board members. Financial terms of the transaction were not disclosed. In connection with the investment, Joel Korte, formerly senior executive with commercial landscape services firm the Brickman Group, also invested in the Company and was appointed Moore Landscapes’ CEO, complementing Moore’s highly tenured and experienced management team.

Victor Moore commented, “My family has beautified Chicago landscapes and served the Chicago community since 1948, for nearly seventy years. It has been a terrific journey and we are very proud of the organization we have built. We have come to know and respect the ClearLight team and Joel Korte, who have a long-term, customer-focused view, and values very consistent with our own, and we look forward to working with them to continue to grow the Company.”

Andrew Brennan, Partner at ClearLight and former senior executive at commercial landscape services firm ValleyCrest Companies, stated, “Partnering with Moore Landscapes is very exciting for us. Moore has a nearly seventy-year legacy of success in the Chicago market based upon its high integrity culture and a strong focus on taking care of its customers and its people. Victor and Eric Moore have built a great organization and we believe the Company is well positioned for continued growth and success. We believe Joel Korte is a fabulous addition to an already talented team and look forward to supporting him and the entire team.”

“Moore Landscapes has long had a culture of going above and beyond to serve its clients, which has created an outstanding reputation and strong trust-based relationships with a discriminating customer base,” said Joel Korte, the incoming CEO for Moore. “The management team and field teams have incredible tenure and experience and a reputation for delivering consistently high quality service. I’m thrilled to have the opportunity to work with such a highly skilled team and to contribute to the next stage of growth of Moore.”

Michael S. Kaye, Managing Partner at ClearLight, added, “We are impressed with Moore Landscapes’ reputation. We are excited about the landscape industry and to partner with Joel and the rest of the team to continue to expand the positive impact Moore has had on the customers and communities it serves.”

Moore Landscapes was advised by CCG Advisors, led by Brian Corbett.

About Moore Landscapes

Moore Landscapes provides landscape installation, maintenance, snow, and interior services in and around Chicago, IL. Moore Landscapes was founded in 1948 by Floyd Moore and has been led by Floyd’s sons, Victor and Eric Moore, since the 1980s. Moore Landscapes is based in Northbrook, IL. For more information, please visit http://www.moorelandscapes.com/.

About ClearLight Partners

ClearLight Partners is a private investment firm located in Newport Beach, CA, with $900 million of assets under management. The team at ClearLight has extensive operating and financial management experience, and invests in and contributes to the expansion of established and profitable businesses. ClearLight focuses on investments in middle-market companies with strong management teams and significant growth potential. For more information, visit www.clearlightpartners.com.

About CCG Advisors

CCG Advisors is an advisory firm with a unique focus on helping business owners maximize the value of their single largest asset – their business. CCG Advisors works exclusively for the owners of privately held companies on the planning and implementation of strategies proven to increase the odds of achieving goals. CCG Advisors specializes in helping business owners attract growth capital, acquire other companies, and achieve shareholder liquidity. For more information, visit http://www.ccgadv.com/.

Contacts

ClearLight Partners
Michael S. Kaye, 949-725-6628
msk@clearlightpartners.com
or
Andrew J. Brennan, 949-725-6642
ajb@clearlightpartners.com
or
Moore Landscapes
Joel Korte, 847-686-3830
jkorte@moorelandscapes.com

ClearLight Partners Successfully Exits its Investment in Intoxalock

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NEWPORT BEACH, CA March 2, 2017 – ClearLight Partners has sold Consumer Safety Technology, LLC (“CST” or “Intoxalock”) to Welsh, Carson, Anderson & Stowe for an undisclosed amount.

Headquartered in Des Moines, Iowa, Intoxalock provides state-of-the-art ignition interlock devices and accompanying driver monitoring services. Ignition interlock devices are used primarily in DUI drivers’ vehicles to prevent the vehicle from starting when the driver has consumed alcohol. Intoxalock serves a mission of making the roads in the US safer, preventing drivers from driving drunk, and helping people with substance abuse problems get their lives back on track.

ClearLight invested in Intoxalock in 2012 and supported strong growth of the company during its ownership period. “Intoxalock has achieved tremendous success as a result of the talented team at the company. We are thrilled to have worked with the group and believe the company has a promising future ahead of it,” said Josh Mack, a partner at ClearLight.

“ClearLight’s operational expertise and commitment to the business was incredibly helpful in growing and improving Intoxalock,” said Kimberly Williams, CEO of Intoxalock. “Growing a business is never a smooth process – we encountered many challenges along the way and are thankful for ClearLight’s support through the process.”

“We are very proud of the team at Intoxalock, not only for their considerable accomplishments in the business, but also for their commitment to helping make the roads a safer place for everyone,” commented Michael Kaye, Managing Partner of ClearLight. “We wish Kimberly Williams and the Intoxalock team continued great success.”

ClearLight was advised by SunTrust Robinson Humphrey, Inc. and Kirkland & Ellis, LLP.

About ClearLight Partners

ClearLight Partners, LLC is a private equity firm in Southern California that invests in established, profitable middle-market companies across a range of industries. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. ClearLight has extensive operating and financial experience, and a history of successfully partnering with owners and management teams to drive growth and create value.

ClearLight is actively searching for investments for its third fund, ClearLight Partners III which has committed capital of $300 million.

For more information, visit www.clearlightpartners.com

 

Andrew Brennan Joins ClearLight Partners

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ClearLight Partners is pleased to announce the return of Andrew Brennan to the firm as Partner. Andrew will focus on the execution of new investments and governance of portfolio companies. Andrew brings to the firm more than 20 years of industry experience across operations, private equity, and management consulting.

Most recently, Andrew spent over a decade with ValleyCrest Companies, a $1B revenue, private equity-backed landscape services provider. At ValleyCrest, he served in a progression of roles culminating as Executive Vice President and Chief Operating Officer of the company. While there, he helped lead a quadrupling of EBITDA and 20%+ average annual EBITDA growth in the company’s core maintenance division. Prior to ValleyCrest, Andrew served as Senior Associate with ClearLight, where he sourced and negotiated investments and assisted in portfolio governance. Andrew began his career at McKinsey & Company, serving as Business Analyst, Associate, and Engagement Manager, focused on product-market strategy and operational improvement engagements. Andrew received a BA in Economics from Williams College.

“We are excited to welcome Andrew back to ClearLight,” said the Firm’s Managing Partner Michael Kaye. “We feel the strength of his operating experience, in addition to his investment and consulting background, make him an excellent partner to management. We continue to believe that the depth of ClearLight’s operating experience, alongside our track record of success, is distinctive and positions us to be the partner of choice for owners and management teams seeking to take their companies to the next level.”

 

About ClearLight Partners

ClearLight Partners, LLC is a private equity firm in Southern California that invests in established, profitable middle-market companies across a range of industries. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. Our team has extensive operating and financial experience, and we have a history of successfully partnering with owners and management teams to drive growth and create value.
For more information, please visit www.clearlightpartners.com

ClearLight Partners Invests in Walker Advertising

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NEWPORT BEACH, CA September 3, 2015 – Private equity firm ClearLight Partners announced today that it has made a major investment in Walker Advertising, in partnership with Mary Ann Walker, the founder and CEO of Walker Advertising.  Walker Advertising is the leading provider of legal marketing services in California, with a particular emphasis on serving the Latino community.  Financial terms of the transaction were not disclosed.

Mary Ann Walker, Founder & CEO of Walker Advertising, commented “My life’s passion has been to bring hope and justice to the Latino community. Our mission is to provide affordable legal representation to this growing population coast-to-coast and I look forward to accomplishing this with ClearLight Partners”

Josh Mack, a Partner at ClearLight, stated “We are thrilled to partner with Walker Advertising. Mary Ann and her team have built a great business that provides compelling value to consumers and attorneys alike. We believe Walker is well positioned for continued market leadership in California, and look forward to continued growth there, as well as in new markets in the US.”

Michael S. Kaye, Managing Partner at ClearLight, added “We are impressed with Mary Ann’s vision to help the Latino community access fair legal representation and the work she has done over the past 30+ years to make this vision a reality. We look forward to working with Mary Ann and her team to support the next phase of the Company’s development.”

About Walker Advertising

Walker Advertising pioneered the legal marketing industry and continues to be a leader in the space. During her time as a court translator more than thirty years ago, Mary Ann saw people being denied fair and equal justice simply because they couldn’t speak English. It was out of this experience that Walker Advertising was born, and over the past three decades, Walker has helped more than 2.3 million families. Walker Advertising is based in San Pedro, CA. For more information, please visit www.walkeradvertising.com.

About ClearLight Partners

ClearLight Partners is a private equity firm located in Newport Beach, CA with $900 million of assets under management. The team at ClearLight has extensive operating and financial experience, and invests in and contributes to the expansion of established and profitable businesses. ClearLight focuses on leveraged buyout investments in middle-market companies with strong management teams and significant growth potential. For more information, visit www.clearlightpartners.com.

Another Successful Portfolio Company Sale for ClearLight Partners

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NEWPORT BEACH, CA July 25, 2014 – ClearLight Partners has sold Apple & Eve, LLC (“Apple & Eve”) to Lassonde Industries, Inc. for total cash consideration of $150 million, subject to adjustments for working capital and other items.

Founded in 1975, Port Washington, NY-based Apple & Eve is the largest privately held producer of 100% fruit juice products in the United States. The Company offers more than one hundred different juice products sold under its iconic flagship brand name, Apple & Eve, and includes a portfolio of sub brands including Organics, Fruitables, Quenchers, Waterfruits and Sesame Street. Additionally, it owns and markets juices under Northland, Seneca and The Switch brands. The Company’s Apple & Eve products are sold in supermarkets, mass merchandisers, warehouse clubs, natural food stores, schools and convenience stores across the country.

ClearLight invested in Apple & Eve in 2007 and subsequently grew the company organically and through an add-on acquisition of The Switch. “We have enjoyed the opportunity to partner with a talented management team in growing the strong Apple & Eve brand,” said Josh Mack, a partner at ClearLight.

“I have thoroughly enjoyed working with ClearLight over the past seven years,” said Gordon Crane, CEO of Apple & Eve. “They proved to be a value-added partner in growing and improving our business.”

“Apple & Eve’s strong track record reflects the strength of the company’s brands, commitment to innovation, and quality of management and employees,” commented Michael Kaye, Managing Partner of ClearLight. “We wish Gordon Crane and the entire Apple & Eve management and employees much continued success.”

ClearLight was advised by Houlihan Lokey Capital, Inc. and Armstrong Teasdale, LLP.

 

About ClearLight Partners

ClearLight is actively searching for investments for its third fund, ClearLight Partners III which has committed capital of $300 million.ClearLight Partners is a private equity firm located in Newport Beach, CA with $900 million of assets under management. The team at ClearLight has extensive operating and financial experience, and invests in and contributes to the expansion of established and profitable businesses. ClearLight focuses on investing in middle-market companies that are profitable market leaders in industries that include industrial technologies, specialty manufacturing, consumer products and services, business services, and health care services.

For more information, visit www.clearlightpartners.com.

 

About Lassonde Industries Inc.

Lassonde Industries Inc. develops, manufactures and markets a wide range of fruit and vegetable juices and drinks. The Company is the second largest producer of store brand ready-to-drink fruit juices and drinks in the United States and a major producer of cranberry sauces. Furthermore, Lassonde Industries Inc. develops, manufactures and markets specialty food products such as fondue broths and sauces, soups, sauces and gravies, packaged corn on the cob, bruschetta toppings, tapenades, pestos and sauces for pasta and pizza. It also imports selected wines from several countries of origin for packaging and marketing purposes and also produces apple cider and wine-based beverages. The Company produces superior quality products through the efforts of some 2,000 people working in 14 plants across Canada and the United States. The shares of Lassonde Industries Inc. are listed on the Toronto Stock Exchange.

Visit Lassonde’s website at www.lassonde.com/en

 

Another Successful Portfolio Company Sale for ClearLight Partners

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NEWPORT BEACH, CA June 12, 2014 – ClearLight Partners, LLC has sold TASI Group (“TASI”) to Berwind Group. The terms of the transaction were not disclosed.

TASI is a leading global provider of highly engineered test, measurement, inspection and automation solutions for mission-critical applications in the Americas, Europe and Asia. The Company’s solutions focus on enhancing customer productivity by reducing manufacturing cost, avoiding rework, improving quality and reliability, and shortening time to market. TASI serves a diverse customer base in a range of end markets including the transportation, industrial, life sciences, energy, food and beverage, and consumer goods industries. TASI is headquartered in Cincinnati, Ohio.

ClearLight invested in TASI in 2007, and in partnership with TASI’s management team, grew the company both organically and through four add-on acquisitions. “We recognized TASI’s unique potential and saw an opportunity to partner with a strong management team to drive growth”, said Jay Shepherd, a partner at ClearLight.

“It has been a pleasure working with ClearLight in growing TASI”, said David Huberfield, CEO of TASI. “Over the past seven years TASI has expanded its global reach, introduced successful new products and strengthened its leadership positions in its markets. Going forward, the company is well positioned to continue its strong growth as part of Berwind.”

“We are proud of our relationship with David Huberfield and the team at TASI, and of their many accomplishments,” commented Michael Kaye, Managing Partner of ClearLight. “The TASI team executed well and delivered growth through both organic initiatives and acquisitions. We think that TASI will continue to thrive under Berwind’s ownership and are pleased to deliver an attractive return to ClearLight’s investors.”

ClearLight was advised by Robert W. Baird & Co. and Latham and Watkins, LLP. Black Canyon Capital and Industrial Growth Partners were co-investors in TASI with ClearLight.

 

About ClearLight Partners

ClearLight Partners is a private equity firm located in Newport Beach, CA with $900 million of assets under management. The team at ClearLight has extensive operating and financial experience, and invests in and contributes to the expansion of established and profitable businesses. ClearLight focuses on investing in middle-market companies that are profitable market leaders in industries that include industrial technologies, specialty manufacturing, consumer products and services, business services, and health care services.

ClearLight is actively searching for investments for its third fund, ClearLight Partners III which has committed capital of $300 million.

 

About Berwind

Visit Berwind’s website at www.berwind.comBerwind is a family-owned investment management company. With its roots dating to 1886, Berwind has evolved from its beginning as a coal mining company, to a diversified portfolio of highly successful manufacturing and service companies, which are leaders in their market niche. Berwind is dedicated to investing in member companies to assist in the growth and development of existing industry platforms and building new platforms for future growth. Berwind operates under a decentralized business model, offering management significant autonomy, while providing financial, business, and operational advice and assistance. Berwind is headquartered in Philadelphia, Pennsylvania.