An investment fund affiliated to private equity firm Lightyear Capital has completed its acquisition of a majority equity stake in Pathlight Capital, a commercial finance company dedicated to providing companies innovative financing solutions to support growth, acquisitions, refinancings, and restructurings. The terms of the transaction have not been disclosed.
Founded in 2012, Pathlight has focused on providing secured asset-based loans primarily to companies in the consumer and retail sector. Going forward, Pathlight intends to use its expertise to tailor financing solutions for companies not just in the consumer and retail sector, but for companies in other industry sectors as well.
Mark Vassallo, Managing Partner of Lightyear Capital, says: "We are pleased to have completed our investment in Pathlight and look forward to building on Pathlight’s successes to date as a market leader in stretch asset-based loans. We are excited to work closely with the Pathlight management team to achieve continued success."
Donald B. Marron, Chairman and Founder of Lightyear Capital, says: “We believe there is an opportunity to expand Pathlight’s business with incremental capital, and we look forward to working with Pathlight as the company embarks on the next phase of growth.”
Founder and Chief Executive Officer of Pathlight, Daniel Platt, who will remain a minority owner and continue in his role going forward, adds: “This acquisition marks a new and exciting chapter of growth for our company. We are thrilled to have the support of a leading financial services expert as we set our course toward future success. Together with Lightyear Capital, we plan to expand our capabilities to provide financing solutions beyond the consumer and retail sector.”
