Balance Point invests in infant sleepwear maker HALO Innovations

Balance Point Capital Partners has made an investment in HALO Innovations. According to the firm, the terms of the investment consisted of $5 milliion of senior subordinated notes and $2 million of redeemable preferred stock in connection with HALO Innovations’ recapitalization of its balance sheet. Headquartered in Minnetonka, Minnesota, HALO Innovations is a maker of infant sleepwear.

PRESS RELEASE

WESTPORT, Conn., June 24, 2014 /PRNewswire/ — Balance Point Capital Partners, L.P., a private equity fund focused on providing flexible mezzanine debt and equity capital to lower middle market companies throughout the United States, is pleased to announce its investments in HALO Innovations, Inc. Balance Point Capital Partners provided $5 million of senior subordinated notes and $2 million of redeemable preferred stock in connection with HALO Innovations’ recapitalization of its balance sheet.

Founded in 1994 and headquartered in Minnetonka, Minnesota, HALO Innovations designs, markets, distributes and sells products dedicated to its mission of setting new standards for the health, safety and well-being of infants. HALO Innovations’ products include its market leading SleepSack® line of wearable blankets and swaddles, used by millions of parents and over 1,400 hospital nurseries nationwide, ComfortLuxe® Sleepwear for babies with sensitive skin, Healthy Hips® diaper cover promoting healthy hip positioning and award-winning Bassinest™ Swivel Sleeper, which is rolling out nationally this summer. For more information, please visit the HALO Innovations’ web site at www.halosleep.com.

“We are excited to enter the next stage of growth for HALO,” said Chuck Dorsey, President and Chief Executive Officer of HALO Innovations. “At HALO, we are committed to the vision of every baby sleeping safely every night, and this financing helps us continue our mission and develop new, innovative safe sleep and health and wellness products.”

“Balance Point is very proud to partner with HALO Innovations,” said Rob Gibson, a Senior Vice President at Balance Point. “We welcome the opportunity to work with a leader in infant health and safety products and look forward assisting HALO in advancing its core mission of helping babies sleep safely.”

About Balance Point Capital Partners
Balance Point Capital Partners invests mezzanine debt and equity capital in select lower middle market companies. Since 1988, the firm and its predecessor funds have invested in over 85 distinct businesses. Balance Point Capital Partners takes a long-term, partnership approach to investing and are committed to building lasting relationships with private equity sponsors, management teams and intermediaries. Balance Point targets companies with EBITDA between $2 million and $25 million and typically invests $5 million to $20 million per transaction. Balance Point Capital Partners is based in Westport, Connecticut. For more information, please visit the Balance Point Capital Partners’ web site at www.balancepointcapital.com.

 

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