Investment Summary

North Castle Partners, JAM Capital Partners and LightBay Capital Invest In Barry’s

On July 28, 2015, private equity firm North Castle Partners, growth capital firm JAM Capital Partners and private equity firm LightBay Capital invested in consumer services company Barry’s

Investment Highlights
  • This is North Castle Partners’ 6th, JAM Capital Partners’ 1st and LightBay Capital’s 1st transaction in the Consumer Services sector.
  • This is North Castle Partners’ 26th, JAM Capital Partners’ 5th and LightBay Capital’s 1st transaction in the United States.
  • This is North Castle Partners’ 8th, JAM Capital Partners’ 1st and LightBay Capital’s 1st transaction in California.

Investment Summary
Date 2015-07-28
Target Barry’s
Sector Consumer Services
Investor(s) North Castle Partners
JAM Capital Partners
LightBay Capital
Deal Type Growth Capital
Advisor(s) Moelis & Co. (Financial)
Buchalter (Legal)

Target

Barry’s

Los Angeles, California, United States
Barry’s is a boutique fitness operator that offers a focused workout, combining both cardio and strength training components in a 50-60 minute session taught by a high-quality fitness instructor set in an immersive atmosphere. Barry’s is based in Los Angeles, California.

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Investor(S) 3

Investor

North Castle Partners

Greenwich, Connecticut, United States

Investor

Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 28 of 48
Sector (Consumer Services) 6 of 10
Type (Growth Capital) 5 of 17
State (California) 8 of 11
Country (United States) 26 of 46
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-27 SmartyPants

Marina Del Rey, California, United States

SmartyPants, Inc. is a developer and provider of gummy vitamins for kids and adults. Starting with a multifunctional supplement for kids and adults formulated based on the needs of the average American diet, SmartyPants expanded the portfolio to include supplements custom-tailored for a range of life stages and dietary requirements. SmartyPants was founded in 2011 and is based in Marina Del Rey, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 ProSupps USA

Plano, Texas, United States

ProSupps USA is a developer and marketer of supplements to enhance performance, physique, and recovery levels with a vision to encourage healthy living through exercise, diet, and supplementation. ProSupps USA is based in Plano, Texas.

Buy -
Investor

JAM Capital Partners

Investor Investor

Category Growth Capital Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

JAM Capital Partners is a growth equity investment firm focused on fast growing middle-market companies. The Firm primarily seeks opportunities where it can invest alongside management and typically seeks to commit $4 to $10 million per transaction. JAM Capital Partners was formed in 2010 and is headquartered in St. Simons Island, Georgia.

DEAL STATS #
Overall 5 of 6
Sector (Consumer Services) 1 of 1
Type (Growth Capital) 2 of 2
State (California) 1 of 1
Country (United States) 5 of 6
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-27 Gila

Austin, Texas, United States

Gila LLC offers outsourced collections, payment processing and call center services to governmental entities, financial and higher education institutions nationwide. The Company provides a full suite of receivables management solutions, tailored to each client's specifications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 High Performance Product Engineering

Columbus, Georgia, United States

High Performance Product Engineering produces high-performance and cost-competitive biopolymer-based products for the oil and gas, mining, agriculture, and pharmaceutical industries. HPPE is one of the few biopolymer manufacturing companies that can manufacture biopolymer products on an industrial scale while maintaining a very precise range of product performance and quality control specifications. High Performance Product Engineering was founded in 2012 and is based in Columbus, Georgia.

Buy -
Investor

LightBay Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 615M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LightBay Capital is a private equity firm focused on middle-market buyouts and distressed debt opportunities. The Firm will consider investing in the range of $100 to $300 million. LightBay Capital was formed in 2016 and is based in Los Angeles, California.

DEAL STATS #
Overall 1 of 13
Sector (Consumer Services) 1 of 3
Type (Growth Capital) 1 of 5
State (California) 1 of 2
Country (United States) 1 of 12
Year (2015) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-16 Boardroom Salon

Southlake, Texas, United States

Boardroom Salon is a premium men’s salon operator and franchisor with 30 company-owned and franchised units across Oklahoma, Georgia, and Tennessee. Boardroom combines the community and nostalgia of an old-time barbershop, outstanding client service, and a 1920s country club environment where men can relax, unwind, and confidently enjoy the highest quality haircut, shave, and spa services. Boardroom Salon was founded in 2004 and is based in Southlake, Texas.

Buy -
Mergr

Product

Company

Legal