ClearLight Partners Successfully Exits its Investment in Intoxalock

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

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

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

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

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.

ClearLight Partners Acquires Leading Planet Fitness Franchisee

Newport Beach, CA – October 15, 2013-Private equity firm ClearLight Partners announced today that it has acquired a significant ownership interest in Planet Fitness franchisee, Taymax Fitness LLC, a leading health club operator in Texas and Tennessee. Planet Fitness is the fastest- growing full size health club franchise in the U.S., and provides its members with an unbeatable value and a relaxed Judgment Free® atmosphere that allows them the opportunity to pursue an active, healthy lifestyle without being judged by others. Financial terms of the transaction were not disclosed.

Kyle Nagel, CEO of Taymax, commented, “We are excited to have ClearLight Partners joining our team as we enter the next phase of our company’s growth. The partnership with ClearLight will allow us to accelerate the growth of our business as we seek to continue to aggressively develop new locations. We remain committed to the Planet Fitness vision of providing excellent customer service and the most comfortable atmosphere in the health club industry.”

Josh Mack, a Principal at ClearLight, stated, “We are thrilled to be joining the Planet Fitness team. We believe Planet Fitness offers the most compelling value proposition in the fitness industry today and Taymax is well positioned to capitalize on the growth opportunities in this industry.”

Michael S. Kaye, Managing Partner at ClearLight, added, “We are impressed with the great job that Kyle Nagel and his partner Tim Kelleher have done in bringing the Planet Fitness concept to San Antonio and Nashville. We are excited to partner with them to continue to further expand the company’s footprint.”

ClearLight completed the transaction in partnership with Riveria investment Group, a New York City-based private equity group.

About Planet Fitness

Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely low prices and a unique, friendly, and hassle-free environment called the Judgement Free Zone®.

Planet Fitness has approximately 700 locations nationwide and has grown to more than 4.5 million members. The company prides itself on giving people an unbeatable value, top-notch facilities, and an atmosphere that focuses on the needs of occasional or first-time gym users rather than hard-core fitness fanatics. All Planet Fitness clubs feature a wide selection of brand-name cardio and strength equipment, and provide unlimited fitness instruction with all memberships.

Planet Fitness is a national brand partner of NBC’s The Biggest Loser®. For more information visit, www.planetfitness.com.

About ClearLight Partners

ClearLight Partners is a private equity firm located in Newport Beach, CA with $900 million of assets under management. 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

About Riveria

Riveria Investment Group, headquartered in New York, NY, is a growth focused private equity firm that acquires and invests in middle-market companies based in the United States. Riveria Investment Group’s website is: www.riveriagroup.com.

Another Successful Portfolio Company Sale for ClearLight Partners

Newport Beach, CA July 10, 2013 — ClearLight Partners, LLC has sold The Outsource Group, Inc. (“TOG”) to Parallon Business Solutions, LLC a wholly-owned subsidiary of HCA Holdings, Inc. (NYSE: HCA). Terms were not disclosed.

Headquartered in St. Louis, Missouri, TOG provides revenue cycle management services to more than 160 hospital clients and physician practices across 38 states. The company ranks as one of the nation’s largest privately-held healthcare revenue cycle firms, with annual revenues in excess of $100 million.

ClearLight initially invested in TOG in December 2004 – in partnership with Chief Executive Michael A. DiMarco – and subsequently grew the company organically and through a dozen add-on acquisitions. “We identified a trend towards hospitals outsourcing management of their revenue cycle and saw an opportunity to build TOG into a best-in-class provider”, said Patrick Haiz, a partner at ClearLight.

“It has been a pleasure working with ClearLight in growing TOG”, said Michael DiMarco. “Going forward, the company is well positioned to continue its strong growth as part of Parallon, providing excellent service to TOG’s existing clients as well as offering its revenue cycle services to HCA’s extensive network of hospitals and surgery centers.”

TOG’s revenue cycle services include full business office outsourcing, insurance billing and follow up, third party liability, primary and secondary bad debt collections, Medicaid eligibility, early out/self-pay, onsite financial counseling and physician billing and follow up.

“We are proud of our association with Michael DiMarco and the team at TOG, and of their accomplishments”, commented Michael Kaye, Managing Partner of ClearLight. “Working with talented executives to execute against a well-defined investment thesis that includes strong organic growth as well as selective fold-in acquisitions is one of our preferred ways to build value. We think that Parallon will be an excellent new home for the Company and are pleased to deliver an attractive return to ClearLight’s investors.”

ClearLight was advised by Cain Brothers & Company, LLC and Armstrong Teasdale, LLP.

About ClearLight Partners

ClearLight Partners is a private equity firm located in Newport Beach, CA with $600 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.

ClearLight is on schedule to commence investing from its third fund, ClearLight Partners III with committed capital of $300 million, later this year.

For more information, visit www.clearlightpartners.com.

About Parallon

Headquartered in Franklin, Tenn., Parallon is a leading provider of healthcare business and operational services. Parallon partners with hospitals, healthcare systems and non-acute care providers to improve their business performance through the company’s deep industry knowledge and proven practices in revenue cycle; technology; workforce solutions; consulting; group purchasing and supply chain. Visit Parallon’s website atwww.parallon.net

ClearLight Partners II, LLC Acquires Consumer Safety Technology

Newport Beach, CA June 25, 2012 – Private equity firm ClearLight Partners announced today that it has acquired a significant ownership interest in Consumer Safety Technology, LLC, manufacturer of the state-of-the-art Intoxalock® breath alcohol monitoring devices. Commonly used by DUI offenders in order to retain driving privileges, Consumer Safety Technology’s core ignition interlock products prevent an engine from starting when alcohol is present on the driver’s breath. CST will use the investment from ClearLight to fund a range of attractive growth initiatives. Financial terms of the transaction were not disclosed.

David Arringdale, CEO of Consumer Safety Technology, commented “We are excited to be partnering with ClearLight Partners as we enter the next phase of our company’s growth and development. ClearLight shares our vision of reducing drunk driving and other alcohol-related crimes, while providing excellent and compassionate service to our customers.”

Josh Mack, a Principal at ClearLight, stated “Consumer Safety Technology has developed industry-leading technology and has displayed a strong and consistent track record of impressive growth. We look forward to providing the capital to support the company’s continued expansion, enabling Consumer Safety Technology to capitalize on the increased use of interlock devices to combat drunk driving.”

Michael S. Kaye, Managing Partner at ClearLight, added “We are impressed with the great job that CST’s co-founders, Kevin Doyle and Scot Lewton, have done and with David Arringdale’s leadership in building on the platform they established. We are excited to partner with David and his management team to continue to build on the company’s legacy of innovation and growth.”

About ClearLight Partners

ClearLight Partners is a private equity firm located in Newport Beach, CA with $600 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

About Consumer Safety Technology

Founded in 1992, Consumer Safety Technology designs and develops breath alcohol monitoring devices under the Intoxalock® brand. Its technology is used in breath alcohol ignition interlock devices (BAIID or IID) and home alcohol monitoring devices. The company’s core interlock products are installed into customer vehicles via a network of more than 1,000 conveniently-located installation centers throughout the U.S. Consumer Safety Technology is headquartered in Des Moines, Iowa.

For more information, visit www.intoxalock.com.

ClearLight Partners, LLC Announces Sale of Switchcraft to HEICO

Newport Beach, CA December, 2011 – ClearLight Partners, LLC recently completed the sale of Switchcraft, a designer and manufacturer of high-performance electronic connectors, to HEICO Corporation, a public-traded company with headquarters in Florida that is focused on the aviation, defense, space, medical, telecommunication and electronic industries. ClearLight originally invested in Switchcraft in March 2005, and enjoyed a successful partnership growing the business with senior management.

ClearLight continues to actively seek companies in the following industry sectors:

  • High value-added manufacturing businesses like Switchcraft that have significant engineering content and strong competitive positions
  • Consumer products / food
  • Business services
  • Education & training

About Switchcraft

Founded in 1946, Switchcraft is a premier designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry. Headquartered in Chicago, Illinois, the Company operates state-of-the-art manufacturing facilities in Chicago, Illinois, Villa Park, Illinois, and Inchon, Republic of South Korea. For more information, visit www.switchcraft.com.