ClearLight Partners Exits its Investment in Richardson

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NEWPORT BEACH, CA November 25, 2019 – Private equity firm ClearLight Partners announced today that it has sold Richardson to Kartesia, an independent and privately-owned European investor in small and middle-market companies, which will merge Richardson with Kartesia’s existing portfolio company, Sales Performance International (SPI).

Headquartered in Philadelphia, Pennsylvania, Richardson is a leading provider of tech-enabled, enterprise sales training solutions to the Global 1000. With over four decades of successful client outcomes, Richardson is known for its role in creating step-change improvements in sales force effectiveness. With a modern and comprehensive suite of content and services, Richardson helps clients better find, win and grow profitable new business.

ClearLight was attracted to Richardson because of the company’s thought and market leadership positions in the sales training sector. Together, ClearLight and the Richardson team helped the business enter new markets, modernize and expand its product offering and delivery methods, and establish Richardson as a global organization able to address the needs of the largest and most sophisticated clients in the world. “Richardson has a superb reputation in the market for its unique connected curriculum of content and solutions, and its ability to drive positive lasting change in selling organizations,” commented Andrew Brennan, a Partner at ClearLight. “It has been a privilege to work with the company’s incredibly talented team as they have successfully grown and improved the business.”

“ClearLight was a great partner with a long-term focus on building enduring enterprise value. Their patient support helped us enter new markets, expand and modernize our sales training content and generate a tangible return on investment for our clients,” said John Elsey, CEO of Richardson. “The company is as strong as it has ever been and is well positioned to continue helping our clients maximize the effectiveness of their sales teams.”

“We are proud to have been a long-term partner with Richardson and its great management team,” said Michael Kaye, Managing Partner at ClearLight.

ClearLight was advised by Capstone Headwaters and Armstrong Teasdale 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.

ClearLight Partners Exits its Investment in Pure Water Technology-PHSI

ClearLight Partners Exits its Investment in Pure Water Technology-PHSI

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NEWPORT BEACH, CA December 18, 2018 – Private equity firm ClearLight Partners announced today that it has sold Pure Water Technology-PHSI (PHSI) to Quench USA, Inc. (Quench), an operating segment of AquaVenture Holdings Limited (NYSE: WAAS).

Headquartered in Lincolnshire, Illinois, Pure Water Technology-PHSI is one of the nation’s leading manufacturers and marketers of point-of-use water purification coolers. The company’s products are distributed to commercial customers throughout the U.S. via a network of over 90 dealers, and through a direct sales channel that includes regional branches as well as large, national accounts. PHSI’s bottleless water coolers represent a simpler, cheaper and greener solution compared to traditional five-gallon water jugs.

ClearLight invested in PHSI in 2009 and, in partnership with PHSI’s management team, supported the growth of the company’s dealer channel while launching a new initiative to sell directly to end users. This direct to consumer initiative led to the opening of seven regional branches to expand the company’s presence in previously underserved markets and the introduction of several new, innovative products. During ClearLight’s ownership period, PHSI and its dealer network placed over 100,000 coolers with commercial accounts seeking a better solution for clean drinking water. “Early on, we recognized the opportunity to disrupt five-gallon water jugs, so it was rewarding to work with the company and help it sustain a leading market position in an industry that needs a dependable, high quality product like PHSI’s,” said Josh Mack, a Partner at ClearLight.

“ClearLight was a great partner as an investor with a long-term focus on building enterprise value. Their support helped us enter new markets, expand and improve our product portfolio and bring clean water to America’s workforce,” said Bob Tangredi, CEO of PHSI. “Pure Water Technology products are recognized as the premier systems in the rapidly growing point-of-use water industry. Quench strengthens its position in the market by adding a large loyal customer base, leading manufacturing capabilities and a strong dealer network.”

“Point of use water coolers are a great solution, and PHSI has been a leader in the field. We are particularly proud to have overseen the successful entry into the direct channel, and the company’s success in working with commercial customers across the nation,” commented Michael Kaye, Managing Partner of ClearLight.

ClearLight was advised by Raymond James and Armstrong Teasdale 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.

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