ClearLight Partners Acquires Majority Interest in Evriholder
Posted on September 15, 2011 by
NEWPORT BEACH, Calif.-Private equity firm ClearLight Partners has acquired an ownership interest in Evriholder Products, LLC, a provider of impulse-purchase housewares. With a product portfolio spanning storage and organization, cleaning, bath and personal care, barware and kitchen categories, Evriholder will use the investment from ClearLight to fund a range of growth initiatives, including new product and program development and acquisitions.
"Working with Michael Kaye and Jay Shepherd of ClearLight Partners over the last few months has been wonderful," said Gary Seehoff, CEO of Evriholder. "We are extremely impressed and grateful for the support and confidence they are showing in us; their resources are tremendous and we look forward to growing the company strategically with their guidance." Seehoff and Ivan Stein, Evriholder's president, have invested alongside ClearLight, Seehoff told HFN. He also stressed that there will "be no change in business operations...We've had wonderful growth and there will be no tinkering with that."
The investment will allow the company to become "bolder" with acquisitions, Seehoff said, and it will entertain purchasing "companies large or small, if they are involved in the same core track as we are." The company last purchased Drake-Williams, which markets bath, shower and spa products nationwide, in April.