Westport, CT, May 16, 2016 – Balance Point Capital (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners II, L.P. and Connecticut Growth Capital, LLC, is pleased to announce a strategic investment in Clarus Commerce (“Clarus”). Balance Point provided preferred and common equity capital to facilitate the acquisition of the Company alongside Landon Capital Partners, Falcon Investment Advisors, LLC and Trivergance, LLC.
Founded in 2001 and headquartered in Rocky Hill, Connecticut, Clarus develops, owns and operates a comprehensive platform for membership and loyalty programs through an owned and operated channel and white label channel. Clarus’ flagship product, Freeshipping.com, offers a suite of benefits to consumers including free shipping, 10% cash back, price comparison, price guarantee and other savings across a consortium of over 1,500 online retailers. We believe Clarus also offers a unique turn-key solution for white-label loyalty on behalf of its eCommerce retailers, payment companies and other client partners.
Justin Kaplan, a Partner of Balance Point Capital remarked, “Clarus' market leader status, unrivaled team, and compelling value proposition positions the business extremely well for growth within existing channels and adjacent markets. We are thrilled to partner with Tom Caporaso and the rest of the management team to continue to build the business by driving new customer acquisition, expanding its loyalty marketing programs and penetrating new markets. Lastly, we are delighted to invest in the Connecticut market to support local businesses.”
Tom Caporaso, CEO of Clarus says, “We are delighted to have Balance Point onboard. Balance Point really spent the time to understand our business, our culture, and our desire to grow. We look forward to a fruitful partnership with Balance Point."
About Balance Point Capital
Balance Point Capital is an alternative investment manager focused on the lower middle market. With approximately $500 million in assets under management as of December 2015, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. We take a long-term, partnership approach to investing and are committed to building lasting relationships with our partners, management teams and intermediaries. Balance Point Capital Advisors, LLC (referred to herein as Balance Point Capital) is a registered investment adviser. Further information is available at www.balancepointcapital.com.
About Connecticut Growth Capital, LLC
Connecticut Growth Capital, LLC (“CGC”) is a dedicated fund focused on Connecticut and is also an affiliated fund under the management of Balance Point Capital and advised by Balance Point Capital CT Advisors, LLC. CGC provides both debt and equity capital to lower middle market companies based in Connecticut. CGC targets companies with EBITDA between $2 million and $25 million and focuses on providing flexible and creative capital solutions to best support growth of our Connecticut based companies.