Sixpoint Partners Announces Close of LSCG Continuation Fund
NEW YORK, NY (December 31, 2021) – Sixpoint Partners (“Sixpoint”) is pleased to announce the successful closing of LSCG Continuation Fund, L.P. (“the Fund”), an $81 million continuation vehicle managed by LaSalle Capital (“LaSalle”), a Chicago-based sponsor dedicated to building leading businesses in the food and beverage ecosystem. Sixpoint was retained by LaSalle to serve as exclusive placement agent for the secondary transaction.
The Fund enables LaSalle to extend its ownership of two leading specialty food companies, Fresh Origins and Westminster Foods (collectively, “the Companies”), while providing a liquidity solution for two legacy LaSalle funds. Fresh Origins is the largest grower of microgreens and edible flowers in North America. Westminster Foods is a leading manufacturer of all-natural premium oyster crackers, saltines and snack crackers. Westminster also produces gluten-free and allergen-free cookies under its Lucy’s brand.
PineBridge Investments was the lead equity investor, with Kline Hill Partners participating as a co-lead in the transaction, which also included several other institutional investors. The Fund provides LaSalle with additional capital to support ongoing and future growth initiatives at the Portfolio Companies.
“Fresh Origins and Westminster Foods are impressive businesses that will benefit from LaSalle’s continued ownership and guidance. We are pleased with the reception and significant interest generated among the secondary investor community by this transaction,” said Andrew Gulotta, a Partner in Sixpoint’s Capital Solutions group with primary responsibility for the transaction.
“Sixpoint is proud of the process we ran and of the strong outcome achieved for all parties,” added Shawn Schestag, Partner and Head of the Capital Solutions team.
“We are excited to partner with PineBridge, Kline Hill, our existing limited partners and several new institutional investors to continue growing Westminster and Fresh Origins” said Kelly Cornelis, Partner and COO of LaSalle. David Murav, Partner, added, “This new capital will allow us to invest in facility expansions, increased automation and marketing and new product development initiatives at both companies, which will lead to enhanced shareholder value.”
Jeff Walters, co-founder and Partner of LaSalle, commented, “We are very appreciative of our existing investors’ continued support and are excited to work with our new investment partners. Both portfolio companies have tremendous growth potential, and we are excited to continue to create value for our investors through this new vehicle.”
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on delivering strategic advisory and fundraising solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement and strategic advisory, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies, and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, and London. Investment banking and other advisory activities are provided by Sixpoint Partners LLC (“Sixpoint”) a registered broker-dealer and a member of FINRA and SIPC. For more information, please visit www.sixpointpartners.com.
About LaSalle Capital
LaSalle Capital is a leading private equity firm with experience in the lower middle market, managing over $500 million in capital across several investment funds. LaSalle has a proven track record of partnering with management teams to increase value in its companies by providing strategic operating focus and driving growth organically and through acquisitions. LaSalle has domain expertise and investment focus in the food and beverage ecosystem. For more information, please visit http://www.lasallecapitalgroup.com.
Andrew Gulotta, Partner