WAYNE, Pa.--(BUSINESS WIRE)--Guardian Capital Partners (“Guardian”), an operationally focused private equity firm that primarily makes control-oriented investments in lower middle-market private companies, announced today the close of a single-asset continuation fund (the “Continuation Fund”) to extend its partnership with Havis, Inc. (“Havis” or the “Company”). The Continuation Fund transaction allowed Guardian to offer liquidity to existing Havis shareholders while also securing new capital commitments to support the Company’s add-on acquisition strategy. The transaction further enables Guardian to extend its investment hold period to continue building on the Company’s success.
The Continuation Fund was oversubscribed and capitalized by both existing and new Guardian limited partners. Kline Hill Partners and Barings served as co-lead investors in the Continuation Fund.
Havis, headquartered in Warminster, PA, is the leading designer and manufacturer of highly engineered mobile workforce solutions, enabling technology that moves businesses forward. The Company’s comprehensive portfolio of best-in-class productivity and safety solutions are integrated with critical technology to ensure security, accessibility, and reliability. Havis takes a customer-centric approach to its business and is dedicated to consistently researching and developing innovative, value-added products and solutions for mobile and related applications worldwide, primarily across public safety and enterprise markets.
“This transaction demonstrates our steadfast commitment to and belief in Havis’ continued growth potential,” said Scott Evans, Managing Partner at Guardian. “We were pleased to deliver what we believe to be an outstanding outcome for our investors through this transaction, while also extending our partnership with Havis and its world-class executive team.”
Max Rogers, CEO of Havis, added “Guardian has been a fantastic partner. We are excited to deepen our relationship and continue to execute our shared vision for the Company’s next phase of growth as a leader in our core markets.”
“This transaction allowed us to provide our investors with an accelerated liquidity option at a market-driven price, while also enhancing the resources available to enable Havis to execute on its long-term growth plans,” said Peter Haabestad, Managing Partner at Guardian. “We are grateful for the support we received from both existing Guardian limited partners as well as new partners in the Continuation Fund.”
“We are thrilled to deepen our 15+ year relationship with Guardian and to provide the capital to help fund the next phase of Havis’ growth, in line with our strategy of investing in high-growth opportunities where we see strong alignment,” said Mina Pacheco Nazemi, Head of Barings Diversified Alternative Equity.
“Kline Hill and Barings are pleased to expand our partnership with Guardian as co-lead investors in the Continuation Fund,” said Raudel Yanez, Managing Director at Kline Hill Partners. “We are excited to support Havis’ continued growth and expansion in the Company’s core markets as well as new and emerging markets.”
William Blair served as exclusive financial advisor to Guardian and Havis, and placed the Continuation Fund. Latham & Watkins LLP acted as legal advisor to Guardian. Cleary Gottlieb served as legal advisor to Kline Hill and Barings.
About Guardian Capital Partners
Guardian Capital Partners is an operationally focused private equity firm based in suburban Philadelphia. Guardian makes control investments in lower middle market manufacturing, specialty business services, and consumer companies. Guardian partners with management teams to provide equity capital to fuel the growth of privately held businesses. Guardian believes the private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies. For more information about Guardian Capital Partners, visit www.guardiancp.com.
About Barings
Barings is a $431+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.
*Assets under management as of September 30, 2024
About Kline Hill Partners
Founded in 2015, Kline Hill Partners is an investment firm focused on the private equity secondary market, with industry-leading capabilities in the small-deal space. With over $4.2 billion in assets under management, Kline Hill’s funds are backed by a blue-chip investor base that includes endowments, foundations, family offices, and other institutional investors. Together, Kline Hill’s Core and Solutions strategies make up a platform designed to serve the entirety of the small-deal secondary market, with capabilities spanning LP fund transfers, GP-led transactions, and secondary direct transactions. For more information, please visit www.klinehill.com
FOOTNOTES
Testimonial provided by Kline Hill and Barings, current investors in certain Guardian funds, including the Continuation Fund. Neither Kline Hill nor Barings was compensated for such testimonial. However, both Kline Hill and Barings may be incentivized to provide positive testimonials due to their roles as co-lead investors in the Continuation Fund.
