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Avante Capital Partners – 2021 Year In Review
Happy New Year to all of our partners, investors, supporters and friends! Thank you for helping to make 2021 one of the strongest years in Avante history. We invested in 6 new platforms, funded add-ons for 5 existing portfolio companies, had 4 exits, and started investing out of our third fund. We also continued our mission to create opportunities for others and promote diversity and inclusion across our industry. As one of the largest women and minority-owned credit funds, we are proud to lead numerous diversity initiatives including our internship program which placed 30 diverse interns at 26 private equity and credit funds. If you are interested in learning more or want to collaborate, please reach out to our team. We look forward to working with you in 2022 and wish you health and happiness in this new year!
2021 TEAM PROMOTIONS & ADDITIONS
Promoted to Principal
Joined as Vice President
Joined as Analyst
Promoted to Analyst
Joined as Executive Assistant
2021 PORTFOLIO ACTIVITY
New Platforms
Burton (April 2021)
Unitranche Debt & Equity / ShoreView Industries
Burton is a leading provider of residential HVAC and plumbing services providing spot-repair and scheduled maintenance services for plumbing and sewage systems.
Genius SIS (June 2021)
Unitranche Debt & Equity / Leeds Equity Partners
Genius is a provider of SIS solutions that form the technology backbone for online learning platforms, including the K-12, corporate training markets, and virtual higher education market.
CRI (June 2021)
Mezzanine Debt & Equity / ShoreView Industries
Corporate Relocation Inc. “CRI” is a relocation management company providing a full suite of services for executive-level moves, focusing on relocations that require a customized, high-touch approach, managing the full spectrum of employee mobility.
Selerix (August 2021)
Unitranche Debt & Equity / NexPhase Capital
Selerix is a benefits administration software provider enabling employers and insurance carriers to better manage the employee benefits enrollment process, through a fulsome benefits administration system including BenSelect, ACA, and Engage.
Blueprint Test Prep (August 2021)
Unitranche Debt & Equity / New Harbor Capital
Blueprint is a provider of LSAT and MCAT test preparation services, including: live courses, self-paced courses, private tutoring, self-study resources, and application consulting services.
Rifle Paper Co. (December 2021)
Unitranche Debt & Equity / Promus Equity Partners
Rifle is a designer, wholesaler, and retailer of lifestyle products including stationery, planners, writing tools, apparel, accessories, and home goods.
In addition to the above activity, we supported add-on acquisitions for our existing portfolio companies Catheter and Medical Design (VitalDyne, ModernCath), Unison Therapy Services (formerly known as SPG) (Behavior Therapy Clinic), SSI Strategy (Fiore Healthcare Advisors), Blueprint Test Prep (Rosh Review), and Burton (Blue Dot, Degree, Hartlaub, Mr. Holland).
Exits
Whitebridge Pet Brands (July 2021)
Whitebridge Pet Brands is a marketer and distributor of all-natural pet treats products, grooming products and accessories for cats and dogs.
VRI (September 2021)
VRI is a leading, device-agnostic provider of remote patient monitoring solutions including medical alert systems, vitals monitoring, and medication management.
ACIS (December 2021)
ACIS provides maintenance, repair, and replacement of commercial HVAC and plumbing systems to commercial, institutional, and industrial real estate owners, occupants, and property management companies in the Dallas Fort-Worth area.
Burton (December 2021)
Burton is a leading provider of residential HVAC and plumbing services providing spot-repair and scheduled maintenance services for plumbing and sewage systems.
2021 AWARDS, FEATURES & MENTIONS
January 2021: Jeri Harman was named Board Chairman of NN, Inc. (NASDAQ: NNBR) after serving on the Board of Directors since February 2019.
February 2021: Jeri spoke as a panelist in Mergers & Acquisitions‘ “Most Influential Women Speak”.
February 2021: Jeri was recognized as one of the “Top 25 Most Influential Women in Mid-Market M&A” by Mergers and Acquisitions.
March 2021: Ivelisse Simon contributed to Preqin’s 2021 report and panel discussion on “Women in Alternative Assets”.
March 2021: The National Association of Investment Companies (NAIC) recognized Jeri and Ivelisse on a LinkedIn post for their dedication to supporting female and diverse entrepreneurs and asset managers during Women’s History Month.
March 2021: Paul Hayama was named as one of the chapter leaders in the newly formed Southern California chapter of the Association of Asian American Investment Managers (AAAIM).
April 2021: Jeri was recognized by the Los Angeles Times as a Banking and Finance Visonary.
May 2021: Ivelisse spoke as a panelist in “Latinas Small Business Post-Covid: Recovery Resources and Trends” hosted by Latinas in Business Inc.
May 2021: Amanda Kim was featured in McGuire Wood’s “Up-and-Coming Women in PE to Know“.
May 2021: Jeri was recognized in Los Angeles Business Journal’s “LA500: 500 Most Influential People in Los Angeles“.
June 2021: Ivelisse testified in front of the Senate Committee on Small Business & Entrepreneurship on a “Review of the Small Business Investing Company Program“, with a focus on increasing diversity within the SBIC industry.
June 2021: Avante welcomed its second cohort of interns to the Small Business Investing Scholars Program.
June 2021: Ivelisse was named in ABF Journal’s “2021 Top Women in Asset-Based Lending“.
August and September 2021: Paul participated in a panel discussion on “Breaking the Bamboo Ceiling” at the AAAIM National Conference.
September 2021: Jeri participated in a panel discussion on “GP Successes and Lessons Learned” at the SuperReturn Private Credit US Conference.
October 2021: Ivelisse was featured in a LinkedIn post on New America Alliance’s “Best in Class” in honor of Hispanic Heritage Month.
November 2021: Jeri was interviewed by PEWIN’s Founding Chair Kelly Williams in the podcast “Moments that Made Her“.
November 2021: Ivelisse spoke as a panelist on the Fearless Investors “Taking My Shot” hosted by Fairview Capital.
GROWING THE SMALL BUSINESS INVESTING SCHOLARS PROGRAM
In June 2021, we welcomed the 2nd cohort of students to the Small Business Investing Scholars Program, the SBIC industry’s first diversity internship program. Thanks to the support of the SBA and our partner SBIC firms, we grew the program from 9 interns in Southern California last year to 30 interns across the country.
We are excited about the program’s continued success and expansion since Avante launched the program in 2019. This summer, we plan host up to 40 interns across 30+ SBIC firms. Please contact Karel Ignacio at karel@avantecap.com to learn more.
WOMEN’S NETWORK UPDATES
The Women’s Operating Network is comprised of experienced and well-respected women executives and operators across various industries. This network aims to connect our partners and portfolio companies with women for available executive and board member roles. If you have any potential candidates to refer to the program, please contact Danielle Rosales at rosales@avantecap.com.
We are constantly building a network of Women in Private Equity. If you have a resume to share, job posting, or want to be added to the distribution list, please contact Danielle Rosales at rosales@avantecap.com.
WE ARE HIRING!
We are seeking candidates for:
Please contact Danielle Rosales at rosales@avantecap.com with any referrals.
INVESTMENT CRITERIA
Products:
Unitranche / One-Stop Debt
Second Lien Debt
Mezzanine Debt
Minority Equity
Company Criteria:
EBITDA of $3-20MM
EBITDA Margins > 10%
Defensible Market Niche or Competitive Advantage
Stable and Diverse Customer Base
Consistent Historical Financial Performance
Headquartered in the United States
Financing Focus:
Sponsored
Invest $5-45MM per Investment (Up to $100MM for Synthetic Unitranche)
Transaction Types:
Buyouts
Growth Capital
Acquisitions
Leveraged Recapitalizations
Refinancings
Target Industries:
Healthcare
Business Services
Education
Software
Niche Manufacturing
ABOUT AVANTE
Avante Capital Partners is a women-owned private credit and structured equity fund headquartered in Los Angeles. Avante invests in the form of unitranche debt, mezzanine debt and minority equity in high-quality, lower middle market businesses generating at least $3 million in cash flow.