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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We believe the foundation to any successful relationship is listening, because what the talented executives in our network have to say matters. This month, we reached out to our executive network to get their thoughts on the topic of Listening. It was great to get so many responses including favorite quotes, anecdotes and reflections on this often overlooked, yet critical skill. Thanks to everyone who submitted a response. We hope you enjoy reading the thoughts of your peers as much as we did.
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.
At ClearLight, we’ve had a wonderful start to the year and hope this communication finds you well as a valued part of our network in Southern California and across the country. We’ve been fortunate to have a very successful exit with one of our portfolio companies and to have made a recent investment in an industry we know well. We’re pleased to share these developments with you – thank you for taking a moment to review the updates below.
The last couple years have been eventful and positive for ClearLight Partners. We have had three successful sales of portfolio companies, made several promising new investments, added a number of great folks to our team, and raised our third fund. We‟re glad to share these developments with you, and thank you for taking a moment to review this note.