Happy Monday, Hubsters. MK Flynn here on the Wire.
It’s a busy morning for PE Hub.
Reporter Aaron Weitzman broke the news on two stories this morning: a relaunch of a lower mid-market PE firm and a significant healthcare hire.
Endless. Sachs Capital is rebranding with a new name: Mauloa. The firm is also announcing its final investment under the old moniker. To find out more, Aaron spoke with chief executive Andrew Sachs and chief investment officer Tyler Weinberg.
“Mauloa means ‘endless’ in Hawaiian, and that is how we view companies – with an endless perspective,” said Sachs. “Companies are bought and sold, and it all has to do with timing, when it is a good time to sell. We do not know when that time will come, so we have always built our companies with a strong balance sheet and with a business model that produces free cashflow.”
Founded in 2007 and headquartered in Potomac, Maryland, Sachs Capital raised two funds, the first in 2007 and the second in 2015. Today marks the firm’s last transaction, a minority investment in Mr. Christmas, a holiday decorations maker. Mr. Christmas and the other portfolio companies will continue to be managed by Sachs Capital.
“We have always been minority, no-control investors,” Sachs said. “That is our niche, but we are stepping up our advisory/operational management power. We still don’t seek to run the companies, but we are putting together a strong advisory board who are all operators, who will be board members on portfolio companies and can also go in, if needed.”
People moves. Thomas H. Lee Partners has hired Sam Hendler, who has joined the PE firm’s healthcare vertical team as a managing director, business development. Hendler joins THL after 18 years at Harris Williams, where he served as a managing director in the technology group and established the firm’s healthcare IT practice.
“Sam brings a unique and exceptional set of experience to our group, which we did not have previously, and that is his ability to be out in the marketplace and the long-term relationships he has in the healthcare sector broadly and in healthcare IT,” Joshua Nelson, managing director and head of the healthcare vertical at THL, told Aaron.
“The plan here is for me to be a market-facing presence for THL bringing that sector-expertise perspective as well as bringing the relationships I have accumulated over my career to bear for our investment opportunities,” Hendler said. “As folks get focused on a deal, it’s very hard to maintain the consistent outbound interaction, and our objective is to make sure we are able to form a perspective early on businesses we would like to invest in, and build relationships with those teams, so that we are in position to move very, very quickly when the right opportunity comes across.”
The PE Hub team is growing!
Last week, Nina Lindholm came aboard as a reporter in Europe. Nina is writing about private equity investments in European companies. She joins assistant reporter David Wansboro on our Europe team, with both Nina and David working in Cardiff.
And today, Tara Lindenbaum joins us for the summer as an assistant reporter intern, working in New York. Tara is focusing on women in private equity.
As our PE Hub team expands, we’d love to hear from you. Here’s how to reach us:
For big-picture trends and interviews about private equity deals, contact Mary Kathleen Flynn at firstname.lastname@example.org
For news and insights on PE-backed healthcare deals in the US, contact Aaron Weitzman at email@example.com
For news and insights on PE-backed energy and infrastructure deals in the US, contact Obey Martin Manayiti at firstname.lastname@example.org
For deal announcements in the US, contact Iris Dorbian at email@example.com
For news and insights on PE deals involving European targets, contact Nina Lindholm at firstname.lastname@example.org
For deal announcements in Europe, contact David Wansboro at email@example.com
For news and insights on women in private equity, contact Tara Lindenbaum at firstname.lastname@example.org
That’s all for now.
Hope you have a great day,