2018 was a strong year for ClearLight. We were fortunate to welcome several new executives to our management teams and to have two new platform investments as well as two exits.
The first announced platform investment was Paul Fredrick, a designer and direct-to-consumer retailer of men’s apparel and related accessories. Paul Fredrick is led by the former executive team from JoS. A. Bank and offers a great solution for anyone seeking high quality, stylish products at competitive prices. Later in the year, we invested into a large franchisee in the exciting Orangetheory Fitness system. Orangetheory’s approach to fitness is centered around High Intensity Interval Training (“HIIT”) and creates a fun, challenging, and effective experience for individuals of all ages and fitness levels in a class-based setting. This investment marks ClearLight’s second platform in fitness franchising. Our two exits included Taymax (profiled below), a franchisee in the Planet Fitness system, and Pure Water Technology, a manufacturer and marketer of point-of-use water purification coolers.
As the private equity business continues to evolve, we feel well situated to adapt and respond to the challenges at this stage of our industry’s development.
Here’s to a prosperous 2019 to you all. Thank you for your past and future contributions.