Pacific Community Ventures said Tuesday that it has sold its stake in resort Evergreen Lodge to Meyer Family Enterprises. No financial terms were disclosed.
SAN FRANCISCO–(BUSINESS WIRE)–Pacific Community Management (www.pcvfund.com), a private growth equity firm focused on investing in consumer-facing small businesses and an affiliate of Pacific Community Ventures, today announced the sale of PCV’s stake in Evergreen Lodge (www.evergreenlodge.com) to Meyer Family Enterprises, an impact investor and client of Imprint Capital (www.imprintcap.com). Over the course of a decade, Evergreen’s management team has transformed the lodge from a mom-and-pop seasonal motel to a year-round, full-service, premier destination resort.
“Since PCV’s investment in 2003, the Evergreen Lodge has increased revenues by 18 times and its number of employees by five times,” said Ariel Jaduszliwer, Vice President at PCM. “Evergreen’s management has also implemented an outstanding internship program for at-risk Bay Area youth as well as cutting edge energy and environmental conservation practices.”
Originally developed to facilitate building of the O’Shaughnessy Dam in Hetch Hetchy Valley, the Evergreen Lodge was sold in 2001 to the current owners, Brian Anderluh, Dan Braun and Lee Zimmerman, who have since renovated the lodge and added 75 new cabins and communal buildings.
“PCV has been an invaluable partner, advisor, and enabler to us,” said Lee Zimmerman, CEO at the Evergreen Lodge. “As our largest and one of our earliest investors, PCV was instrumental in helping us launch and grow the Evergreen Lodge into a successful tourist resort with a fully self-funded, behind the scenes youth employment program. We are pleased that their successful investment in Evergreen helps prove out their model of supporting small, growing companies that provide great jobs in low income communities.”
“We are excited to acquire PCV’s stake in Evergreen Lodge,” said Bonny Meyer of Meyer Family Enterprises. “Evergreen is a world class social enterprise. As an impact investor we’re excited to build on the work PCM started and increase momentum toward a compelling impact market.”
Pacific Community Management is a venture and private equity impact investment firm focused on investing in small, high growth businesses that generate market-rate returns while bringing economic benefit to low- to moderate-income employees and communities. PCM builds, develops and maximizes the value within these companies for the benefit of owners, management and employees. PCM’s experienced team works closely with portfolio companies, providing hands-on strategic and operational guidance in addition to capital. Pacific Community Management is closely affiliated with its sister nonprofit organization, Pacific Community Ventures. For more information, please visit www.pcvfund.com.
Founded in 2007, Imprint Capital is the longest standing independent advisory firm in the United States dedicated exclusively to impact investing. As of September 2013, Imprint oversees more than $360 million in assets under advisement, offering a full set of advisory services to create and manage high performing impact investing portfolios for foundations, families, and financial institutions.