Balance Point Capital Partners has made an investment in HALO Innovations. Balance Point Capital Partners provided $5 million of senior subordinated notes and $2 million of redeemable preferred stock in connection with HALO Innovations’ recapitalization of its balance sheet.
HALO Innovations designs, markets, distributes and sells products used in promoting the health, safety and well-being of infants. Products include SleepSack® line of wearable blankets and swaddles, used by millions of parents and over 1,400 hospital nurseries nationwide, ComfortLuxe® Sleepwear for babies with sensitive skin, Healthy Hips® diaper cover promoting healthy hip positioning and award-winning Bassinest™ Swivel Sleeper. The company was founded in 1994 and is headquartered in the Minneapolis suburb of Minnetonka (www.halosleep.com).
“Balance Point is very proud to partner with HALO Innovations,” said Rob Gibson, a Senior Vice President at Balance Point. “We welcome the opportunity to work with a leader in infant health and safety products and look forward assisting HALO in advancing its core mission of helping babies sleep safely.”
Balance Point Capital Partners invests from $5 million to $20 million of mezzanine and equity in lower middle market companies that have revenues of $10 million to $150 million and EBITDAs between $2 million and $25 million. Sectors of interest include business services, niche manufacturing, consumer & industrial, branded products, aerospace & defense, healthcare, and technology. Balance Point Capital Partners was founded in 1988 and is based in Westport, CT (www.balancepointcapital.com).
“We are excited to enter the next stage of growth for HALO,” said Chuck Dorsey, President and Chief Executive Officer of HALO Innovations. “At HALO, we are committed to the vision of every baby sleeping safely every night, and this financing helps us continue our mission and develop new, innovative safe sleep and health and wellness products.”
© 2024 PEPD • Private Equity’s Leading News Magazine • 6-25-14
