Private equity firm Lightyear Capital announced that an affiliated investment fund has completed its acquisition of a majority equity stake in Pathlight Capital, a commercial finance company dedicated to providing companies innovative financing solutions to support growth, acquisitions, refinancings and restructurings.
Founded in 2012, Pathlight has focused on providing secured asset-based loans primarily to companies in the consumer and retail sector. Going forward, Pathlight intends to use its expertise to tailor financing solutions for companies not just in the consumer and retail sector, but for companies in other industry sectors as well.
Mark Vassallo, managing partner of Lightyear Capital, commented, “We are pleased to have completed our investment in Pathlight and look forward to building on Pathlight’s successes to date as a market leader in stretch asset-based loans. We are excited to work closely with the Pathlight management team to achieve continued success.”
Donald B. Marron, chairman and founder of Lightyear Capital added, “We believe there is an opportunity to expand Pathlight’s business with incremental capital, and we look forward to working with Pathlight as the company embarks on the next phase of growth.”
Founder and chief executive officer of Pathlight, Daniel Platt, will remain a minority owner and continue in his role going forward.