Valesco Industries Invests in Earthlite – The Third Investment out of Valesco Fund III
2024年7月15日 - 11:30PM
ビジネスワイヤ(英語)
On July 3, 2024, Valesco closed its third platform investment
out of Valesco Fund III. Headquartered in Vista, CA, Earthlite, LLC
(“Earthlite”) is the world’s preeminent provider of high-quality
wellness equipment along with a suite of complementary products
including consumable supplies and accessories for the spa and
massage markets. Earthlite’s portfolio includes several revered
wellness brands including Living Earth Crafts and Tara Spa Therapy.
Over the past 50 years, the company has built powerful, authentic
brands and an award-winning reputation for innovation, quality, and
sustainability.
Valesco looks forward to furthering Earthlite’s successful
position in the luxury spa market. “The Earthlite leadership team
is very excited for Valesco’s investment in our Company,” shared
Earthlite CEO Jim Chenevey. “Earthlite and its subsidiaries have
bold growth aspirations, and we feel that the Valesco team is a
perfect partner for this stage of our growth.”
Valesco completed a majority buyout of the previous ownership
group, partnering with management to continue Earthlite’s legacy
and capitalize on the company’s long-standing reputation, favorable
industry tailwinds, and growth opportunities. Subordinated debt was
also provided by Valesco, and a revolver was provided by a senior
lender who is also an investor in Valesco Fund III. CIBC Capital
Markets acted as exclusive financial advisor to Earthlite.
Valesco continues to seek investment opportunities in the form
of both equity and subordinated debt for control buyout,
recapitalization, minority, management buyout, and mezzanine
situations for Valesco Fund III. Earthlite is the epitome of an
investment candidate for our fund as we look for optimal solutions
to satisfy the business, existing owners, and Valesco. We are
excited to welcome Earthlite and the management team into our
portfolio and are delighted to see the continued growth and success
of the business.
About Valesco
Valesco is a Dallas, Texas based private equity firm that
focuses on making control and non-control investments in select
growth-oriented small- and lower- middle-market businesses engaged
in manufacturing, distribution, and business-to-business services.
Valesco specializes in partnering with a company’s management team
to support its growth objectives. As long-term industry veterans,
the principals have capitalized and built numerous successful
businesses, serving those companies in varying roles as investors,
managers, advisors, and directors.
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version on businesswire.com: https://www.businesswire.com/news/home/20240715562716/en/
Angie Henson aghenson@valescoind.com 214-393-2534