Valesco Industries Invests in Earthlite – The Third Investment out of Valesco Fund III

DALLAS--(BUSINESS WIRE)--On July 3, 2024, Valesco closed its third platform investment out of Valesco Fund III. Headquartered in Vista, CA, Earthlite, LLC (“Earthlite”) is the world’s preeminent provider of high-quality wellness equipment along with a suite of complementary products including consumable supplies and accessories for the spa and massage markets. Earthlite’s portfolio includes several revered wellness brands including Living Earth Crafts and Tara Spa Therapy. Over the past 50 years, the company has built powerful, authentic brands and an award-winning reputation for innovation, quality, and sustainability.

Valesco looks forward to furthering Earthlite’s successful position in the luxury spa market. “The Earthlite leadership team is very excited for Valesco’s investment in our Company,” shared Earthlite CEO Jim Chenevey. “Earthlite and its subsidiaries have bold growth aspirations, and we feel that the Valesco team is a perfect partner for this stage of our growth.”

Valesco completed a majority buyout of the previous ownership group, partnering with management to continue Earthlite’s legacy and capitalize on the company’s long-standing reputation, favorable industry tailwinds, and growth opportunities. Subordinated debt was also provided by Valesco, and a revolver was provided by a senior lender who is also an investor in Valesco Fund III. CIBC Capital Markets acted as exclusive financial advisor to Earthlite.

Valesco continues to seek investment opportunities in the form of both equity and subordinated debt for control buyout, recapitalization, minority, management buyout, and mezzanine situations for Valesco Fund III. Earthlite is the epitome of an investment candidate for our fund as we look for optimal solutions to satisfy the business, existing owners, and Valesco. We are excited to welcome Earthlite and the management team into our portfolio and are delighted to see the continued growth and success of the business.

About Valesco

Valesco is a Dallas, Texas based private equity firm that focuses on making control and non-control investments in select growth-oriented small- and lower- middle-market businesses engaged in manufacturing, distribution, and business-to-business services. Valesco specializes in partnering with a company’s management team to support its growth objectives. As long-term industry veterans, the principals have capitalized and built numerous successful businesses, serving those companies in varying roles as investors, managers, advisors, and directors.