Valesco Invests in Earthlite – The Third Investment out of Valesco Fund III
Jul 11, 2024
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.
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.