Guardian Capital Partners Unveils New Continuation Fund
Guardian Capital Partners (“Guardian”), a distinguished private equity firm known for its operational focus, has recently completed a successful venture with the establishment of a single-asset continuation fund. This innovative Continuation Fund aims to facilitate the ongoing partnership with Havis, Inc. The announcement is a testament to Guardian’s strategy of making impactful investments in lower middle-market companies.
Objective of the Continuation Fund
The primary goal of this Continuation Fund is to provide liquidity to current Havis shareholders while also inviting new capital commitments. This strategy is a critical component of Havis' growth plan that emphasizes add-on acquisitions. By doing so, Guardian can extend its investment hold period, ensuring that Havis can solidify its success in the market.
Strong Partnerships Propel Growth
The Continuation Fund attracted substantial interest, becoming oversubscribed as it received backing from both existing and new investors. Kline Hill Partners and Barings played pivotal roles as co-lead investors, underlining the fund's robust standing in the investment community.
Havis: A Leader in Mobile Workforce Solutions
Havis, a leading designer and manufacturer of mobile workforce solutions, is dedicated to providing technology that empowers businesses. The company is renowned for its comprehensive lineup of productivity and safety solutions, integrating critical technology that ensures security, accessibility, and reliability. This commitment to innovation establishes Havis as a customer-centric organization, continuously developing value-added products for various industries, particularly in public safety and enterprise sectors.
Expert Insights on the Partnership
Scott Evans, Managing Partner at Guardian, shared, "This transaction demonstrates our steadfast commitment to and belief in Havis’ continued growth potential.” His sentiment reflects the confidence invested in Havis' future, as Guardian seeks to foster this growth alongside a strong executive team.
Vision for Long-Term Success
Max Rogers, CEO of Havis, expressed his enthusiasm about the partnership, stating, “We are excited to deepen our relationship and continue to execute our shared vision for the Company’s next phase of growth.” This statement emphasizes the collaborative spirit integral to their evolving business strategy.
Peter Haabestad, another Managing Partner at Guardian, noted, “This transaction allowed us to provide our investors with an accelerated liquidity option at a market-driven price.” His comments illustrate the dual focus of the transaction on investor satisfaction while enhancing resources for Havis’ strategic objectives.
Continued Support from Industry Leaders
Mina Pacheco Nazemi, Head of Barings Diversified Alternative Equity, stated, “We are thrilled to deepen our 15+ year relationship with Guardian.” This partnership aims to fund the next growth phase of Havis, affirming Barings' commitment to investing in high-growth opportunities that align with their strategic vision.
Furthermore, Raudel Yanez, Managing Director at Kline Hill Partners, expressed excitement regarding their collaboration as co-lead investors, emphasizing their readiness to support Havis’ growth within both established and emerging markets.
Advisory and Legal Support in Fund Structure
In structuring the Continuation Fund, Guardian and Havis received exclusive financial advisory services from William Blair. Legal support was provided by Latham & Watkins LLP for Guardian, while Kline Hill and Barings had Cleary Gottlieb as their legal advisor. This collaborative effort sets a strong foundation for the future endeavors of Havis and Guardian.
About Guardian Capital Partners
Guardian Capital Partners is committed to partnering with management teams in lower middle-market sectors, primarily focusing on manufacturing, specialty business services, and consumer companies. The firm’s unique combination of operational and finance expertise ensures effective execution and drives long-term value creation for its portfolio companies.
About Barings
As a substantial global investment manager, Barings is committed to sustainable practices across public and private sectors. With a focus on long-term portfolio building, Barings aims to continuously serve its clients and communities while upholding responsible investment practices.
About Kline Hill Partners
Kline Hill Partners specializes in the private equity secondary market, demonstrating significant capabilities within the small-deal space. Their commitment to investing in high-growth opportunities positions them favorably in this competitive landscape. Founded in 2015, the firm has cultivated a distinguished reputation among institutional investors.
Frequently Asked Questions
What is the purpose of the Continuation Fund announced by Guardian?
The Continuation Fund aims to provide liquidity to Havis shareholders while securing new capital to support Havis’ growth and acquisition strategy.
Who are the main investors in the Continuation Fund?
Kline Hill Partners and Barings are the co-lead investors, demonstrating strong support for the initiative.
What does Havis do?
Havis designs and manufactures mobile workforce solutions, focusing on technology that enhances productivity and safety across various industries.
What has been the feedback from Guardian regarding the partnership with Havis?
Guardian has expressed strong confidence in Havis’ growth potential and commitment to a long-term partnership with its executive team.
Who provided legal and financial advisory support for the Continuation Fund?
William Blair acted as the exclusive financial advisor, while Latham & Watkins LLP and Cleary Gottlieb served as legal advisors for Guardian and Kline Hill/Barings respectively.
