Tress Capital LLC has acquired California and New York-based Turning Points Global LLC, a cannabis advisory firm. No financial terms were disclosed.
NEW YORK (PRWEB) NOVEMBER 06, 2018
Tress Capital LLC, a strategic leader in cannabis private equity, is pleased to announce the acquisition by an affiliate, of Turning Points Global LLC (TPG), a cannabis advisory firm based in California and New York. The acquisition closed effective Oct. 1, 2018. Terms of the transaction were not disclosed. Tress Capital is known for leading portfolio brands including SC Labs, Cannabis Now, Headset, Baker Technologies (TILT), North Bud Farms, Infusion Biosciences and more.
“The acquisition of TPG adds institutional investment management experience from Citigroup Venture Capital International, and added cannabis operating experience to our core team,” said Tress Capital CEO Asher Troppe. “Our sector is rapidly evolving and becoming an increasingly competitive global marketplace. Jonathan and Steve will directly add value for our stakeholders as members of the Tress team, supporting investment processes, and development and execution of portfolio company growth, operating, and capital markets initiatives.”
TPG Co-Founders Steve Peterson and Jonathan Eisenberg stated, “We are excited to be joining the Tress team in evaluating investment opportunities and in providing strategic operations and business development support to a range of cannabis companies. The cannabis market is expected to quickly consolidate and access to capital and proper mentorship will be critical in supporting companies through these highly dynamic global regulatory and business environments.”
TPG is presently consulting Lineage Grow on acquisitions and retail management, has consulted for I-5 Holdings Ltd. on acquisitions prior to being acquired by Captor Capital Corp., has consulted for a leading Israeli cannabis pharma company and has worked with a variety of cannabis manufacturers, cultivators and service providers. Steve Peterson was previously the General Manager for Elemental Wellness, a leading dispensary in California, a Venture Partner of Cukierman Investments in Israel and joins Tress as a Partner in Tress Solutions. Jonathan Eisenberg was previously a Managing Director of Citigroup Venture Capital International (Asia), a Partner at Cukierman Investments in Israel, and joins as a Partner at Tress Capital.
About Tress Capital
Tress Capital, one of the first private equity firms dedicated to cannabis, serves family office, high net worth, and institutional clients. For updates on the Company’s activities and highlights of the Company’s press releases, portfolio, and other media coverage, please visit Tress’s web site at http://www.tresscapital.com. Tress Solutions provides business development, strategy, and operational support to sector companies and related interests.