Radnor, PA, January 17, 2020 – 2019 marked an eventful 25th year in the history of Milestone Partners (“Milestone”). Milestone has been active in Financial Services for over a decade and, in late December 2019, we completed the following transactions exemplifying our significant commitment to the sector:
- the acquisition of Heights Finance, a consumer lender with 100+ branches in the Midwest and Southeast, which is now operating as a subsidiary of Southern Management
- a growth capital investment in US Auto Sales
- and a refinancing of and an add-on acquisition for PayLink Direct
Milestone’s 2019 activity also included transactions in our other focus sectors, technology-enabled solutions and manufacturing, notably the year-end agreement-in-principle to recapitalize industrial textile business Martex Fibers, and the June 2019 sale of open source software business Enterprise DB.
Our ongoing initiatives in Financial Services, Technology-Enabled Services and Technology-Driven Manufacturing should serve us well in the 2020s. We are grateful for the support of our limited partners, management teams, financing partners, investment banking partners, operating partners, professional advisors and other friends of Milestone. We would also like to make special mention of several trusted investment banking firms which advised on 2019 transactions across our sectors: Canaccord Genuity, Delancey Street Partners, Houlihan Lokey, Jefferies, and KBW/Stifel.