Mergers and Acquisitions: “Greatest generational transfer of wealth ever seen” benefits Brightstar’s $710M debut fund by Mary Kathleen Flynn

NEW YORK, April 9, 2018 – Middle market private equity firm Brightstar Capital Partners recently closed its inaugural fund at $710 million. New York-based Brightstar, which invests up to $250 million in businesses, has already invested in two portfolio companies: logistics technology provider Global Resale and water supplier Texas Water Supply Co. We asked managing partner Andrew Weinberg to tell us more about the firm’s investment thesis and the opportunities he sees for M&A this year.

Why is now a good time to launch a new PE firm?
Brightstar Capital Partners was founded in 2015, and we recently closed on more than $710 million for our inaugural private equity fund program. The timing of our close takes place against the backdrop of what will most likely be the greatest generational transfer of wealth ever seen to date. Estimates for this wealth transfer in the U.S. alone range from $10 trillion over the next decade to $25-30 trillion in the next 25-30 years. As family and closely-held businesses navigate this wealth transfer they will be faced with challenges arising from an ever-changing operating environment, pressures to maintain sustainable growth and their competitive positions, not to mention the inherent issues associated to the ownership group.

There are roughly 200,000 companies in the U.S. with revenues from $10 million to $1 billion, most of which are closely held or family controlled. Within the middle-market universe, there are 32,000 businesses with revenues between $50 million and $1 billion, and these companies are vital to the U.S. economy, representing 16 times the number of public companies with the same revenue profile.

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Zach Kouwe/Shree Dhond
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com

Private Equity Wire: Brightstar’s ‘us and us’ investment model to mid-market US businesses strikes note with investors by James Williams

NEW YORK, April 5, 2018 – In the US alone there are more than 200,000 middle market companies with revenues between USD10 million and USD1 billion. If one narrows that range to USD50 million to USD1 billion in revenue, there are 32,000 businesses, with around 15 times as many private businesses to public businesses.

That’s a pretty big engine of economic growth and one that Brightstar Capital Partners is training its investing and operating talents on to seek out good US businesses with a clear growth trajectory.

“Our strategy has always been about how to be more than a capital provider to middle market, closely held companies, either family-owned or backed by entrepreneurs by adding a second component; namely, how to provide much needed operational and strategic resources to those companies by virtue of our partnership,” explains Andrew Weinberg (pictured), Brightstar’s Founder and Managing Partner.

These types of companies face many challenges going forward, from next generation leadership, to attracting executive talent beyond the founding family to responding to needs in the market. Data suggests there is an estimated USD30 trillion to USD40 trillion of wealth that will be passed on from the baby boomer generation in the US to their heirs over the next 25 to 30 years.

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Zach Kouwe/Shree Dhond
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com

Brightstar Capital Partners Raises Over $710 Million Inaugural Private Equity Fund Program

NEW YORK, March 16, 2018 – Brightstar Capital Partners, a private equity firm that invests in closely held middle market companies, is pleased to announce the successful closing of Brightstar Capital Partners’ inaugural fund program in excess of $710 million of institutional capital from investors worldwide.

The sum is one of the largest first-time private equity fundraises in the last year, according to data from PitchBook. Commitments come from a diverse set of institutional investors including several university endowments, high net worth investors, pension funds, private foundations, family offices and insurance companies.

Andrew Weinberg, Brightstar’s Founder and Managing Partner, said: “We are gratified by the enthusiasm and extraordinary level of support the institutional investment community has given us throughout this process, especially for an inaugural fund. Our team is poised to continue executing on our operational value-add strategy for our new and existing portfolio companies.”

Brightstar’s investment strategy is focused on control-oriented investments in North American middle market companies. The firm invests in closely held or family-owned businesses where it can leverage the operating and investment experience of its team to drive significant value over the long term.

Brightstar has already deployed capital from its funds in two investments. The first was a majority stake in Global Resale LLC, an Austin-based company that is a leading, global provider of aftermarket services and reverse logistics, focused on resale, buyback and disposition of technology devices. In October 2017, Brightstar closed an investment in Texas Water Supply Co., which operates approximately 40 groundwater wells serving San Antonio and the surrounding Hill Country region. The firm’s investment will help Texas Water Supply provide reliable and sustainable water to the fast-growing region.

“Brightstar is the preferred partner to help take family-owned and closely held businesses to the next level as they continue to grow and pass through generational ownership,” added Mr. Weinberg.

Eaton Partners served as the exclusive placement agent and Simpson Thacher & Bartlett LLP served as legal counsel.

About Brightstar Capital Partners

Brightstar Capital Partners is a private equity firm focused on investing in closely held middle market companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. The firm seeks to invest $50 million to $250 million in each portfolio company over the course of its investment. For more information please visit www.brightstarcapitalpartners.com or @BrightstarCap.

MEDIA CONTACT:

Zach Kouwe/Shree Dhond
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com

Brightstar Capital Partners Closes Investment in Texas Water Supply Company

SAN ANTONIO, TEXAS, October 10, 2017 – Texas Water Supply Company, LLC (“TWS”), which operates approximately 40 wells serving San Antonio and the surrounding Hill Country region, announced today that it has received a significant capital investment from Brightstar Capital Partners (“Brightstar”), a private investment firm that partners with closely held companies in the business services, industrial services, and consumer sectors. The new capital will enable TWS to expand its production capacity to serve the growing water needs of the central Texas Hill Country region.

TWS, founded in 1999, supplies the San Antonio Water System from well fields that draw water from the Middle Trinity Aquifer. The Company’s current well fields have an annual production capacity of over 32,000 acre-feet of potable water.

Trip duPerier, a Director of TWS, commented, “We are pleased that Brightstar is making this vital investment of capital and expertise to support the rapid growth of the Texas Hill Country region and to help us realize the long-term potential of Texas Water Supply Company. The additional capital will allow us to expand our water delivery capacity and ensure a sustainable water supply for municipalities, commercial and residential customers in fast-growing Hill Country communities.”

“The Texas Water Development Board estimates a water shortfall of 221 thousand acre-feet per year by 2030 in the Hill Country – one of the fastest growing regions in the nation by population growth,” noted Dr. Raul Deju, a Brightstar Senior Partner who has a Ph.D. in Hydrology and extensive groundwater development experience. He added, “Brightstar’s investment will enable TWS to help close that gap and further the region’s development.”

“TWS is Brightstar’s second platform investment, both in the State of Texas,” said Andrew Weinberg, Brightstar Founder and Managing Partner. “TWS is an excellent fit with our strategy of investing in closely held businesses where we can apply our capital, technical knowledge, and operating experience to drive growth and value-creation.”

About Brightstar Capital Partners

Brightstar Capital Partners is a private equity firm focused on investing in closely held companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar seeks control investments and employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. For more information please visit www.brightstarcapitalpartners.com or @BrightstarCap.

MEDIA CONTACT:

Ted Smith/Shree Dhond/Zach Kouwe
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com

Brightstar Capital Partners Founder and Managing Partner Andrew Weinberg and Senior Partner Tom Meredith to Speak at 2017 Milken Institute Global Conference

NEW YORK and LOS ANGELES, April 25, 2017 – Brightstar Capital Partners, a private equity firm that invests primarily in closely held North American middle market companies with a focus on being an operationally value added partner, is pleased to announce that two of its senior members will be speaking at the 2017 Milken Institute Global Conference taking place April 30 through May 3, 2017 in Los Angeles.

Andrew Weinberg, Brightstar’s Founder and Managing Partner, will participate in a panel on “The Evolution of Value Creation in Private Equity” that will explore the role of private equity in the prevailing economic environment and the factors driving the value creation process. He will be joined by several other prominent panelists, including John Connaughton, Co-Managing Partner of Bain Capital; Jim Fordyce, Co-CEO of Stone Canyon Industries; and Jim Pittman, Senior Vice President-Private Equity, bcIMC (Moderator). The panel, on May 1, 2017, is by invitation only.

In addition to Mr. Weinberg, Brightstar Senior Partner Tom Meredith will also be participating in a panel focusing on how social entrepreneurs experiment with different strategies and creative approaches to philanthropy. The panel, “Leverage: How Philanthropies Use New Tools to Create Change,” will take place on May 3. Mr. Meredith is a former Senior Vice President of Business Development and Strategy and Chief Financial Officer of Dell Inc.

“I’m excited to be participating in a discussion at the Milken Institute Global Conference that will examine the rationale for private equity as a means of value creation, and the way PE strategies are evolving to meet the needs of investors in a dynamic marketplace,” Mr. Weinberg said.

About Brightstar Capital Partners

Brightstar Capital Partners is a New York-based private equity firm focused on investing in closely held, middle market companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. The firm seeks to invest $50 million to $250 million in each portfolio company over the course of its investment. For more information please visit www.brightstarcapitalpartners.com or @BrightstarCap.

MEDIA CONTACT:

Zach Kouwe/Shree Dhond
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com

Brightstar Capital Partners Completes Acquisition of Global Resale, LLC

AUSTIN, TEXAS and NEW YORK, March 31, 2016 – Brightstar Capital Partners (“Brightstar”) announced today that it has acquired a majority ownership of Global Resale, LLC (“Global Resale” or the “Company”) in partnership with the Company’s founder and CEO, Jeff Zeigler. Global Resale is a leading, global provider of aftermarket services and reverse logistics, focused on resale, buyback, and disposition of technology devices. As part of the transaction, Brightstar has initially committed $50 million to Global Resale to fund the Company’s growth.

“Global Resale is a recognized leader in this space and has an impressive team with a track record of operational excellence. Having known Zeigler for over a decade, I am confident that he is the right operator to lead this business, and I am excited about the future of this partnership,” said Brightstar Senior Partner Tom Meredith, who will serve as Chairman of Global Resale’s board.

“We are extremely excited about entering the next phase of our Company’s growth,” said Zeigler. “With the combination of Brightstar’s capital, Tom’s knowledge of IT and supply chain businesses, and Andrew’s expertise within the mobile reverse logistics space, we are optimally positioned to build on Global Resale’s strong foundation and expand the scope of offerings for our business partners.” Global Resale will use the capital infusion to broaden its geographic footprint, launch new online marketplaces, and expand its service offerings across various product categories. The Company is currently completing a state-of-the-art services and refurbishment center in a legacy Dell Manufacturing facility at its Austin headquarters.

Meredith brings extensive experience to the team himself, having served as CFO of Dell for nearly a decade, co-founded Dell Financial Services and Amdahl Capital Corporation in addition to having held other senior positions at Motorola and Sun Microsystems. Zeigler and Meredith will be joined on the board by Brightstar Capital Partners’ Managing Partner, Andrew Weinberg, who brings substantial experience in the mobile reverse logistics space. Weinberg previously served as Chief Operating Officer and Chief Strategy Officer of Brightstar Corporation (now a subsidiary of SoftBank Group Corp).

“We are extremely excited about entering the next phase of our Company’s growth,” said Zeigler. “With the combination of Brightstar’s capital, Tom’s knowledge of IT and supply chain businesses, and Andrew’s expertise within the mobile reverse logistics space, we are optimally positioned to build on Global Resale’s strong foundation and expand the scope of offerings for our business partners.”

Global Resale will use the capital infusion to broaden its geographic footprint, launch new online marketplaces, and expand its service offerings across various product categories. The Company is currently completing a state-of-the-art services and refurbishment center in a legacy Dell manufacturing facility at its Austin headquarters.

Brightstar expects significant growth for Global Resale, which targets a large addressable market in each of its core market segments. Brightstar’s assessment shows that the industry is well-positioned to benefit from the replacement of billions of connected devices around the world.

“I am thrilled about the wealth of experience and proven track record of success that industry veterans Jeff Zeigler and Tom Meredith will bring to this partnership,” added Weinberg. “We could not be happier with the team that we have assembled – Zeigler as CEO and Meredith as Chairman – to lead Global Resale.”

About Global Resale

Headquartered in Austin, Texas, Global Resale partners with manufacturers, carriers, resellers, and large corporate accounts to replace their devices faster and capture higher residual values. The Company sources technology assets, rebuilds and refurbishes the units, and sells them through online retail, reseller, and wholesale channels worldwide. For more information please visit Global Resale.

About Brightstar Capital Partners

Brightstar Capital Partners is a New York-based private equity firm focused on investing in closely held, middle-market companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. The firm seeks to invest $50 to $300 million in each portfolio company over the course of its investment. For more information please visit www.brightstarcapitalpartners.com or @BrightstarCap.

MEDIA CONTACT:

Zach Kouwe/Shree Dhond
Dukas Linden Public Relations
212-704-7385
brightstar@dlpr.com