Milestone Partners is pleased to present a mid-year review showcasing our 2024 achievements to date. We have had a productive year of investment activity, consisting of a sale process, multiple refinances, and a strategic partnership.
Milestone’s 2024 activity to date included a sale process for the final portfolio company remaining in MPIII. In July, through a management-led buyout, we completed the sale of Blaschak Anthracite, a U.S. based miner, preparer and marketer for ultra high-grade anthracite. Scott Warren, a Partner at Milestone said, “It has been a rewarding investment for us and an absolute pleasure working with the Blaschak team over the years. We at Milestone are excited for the Company’s continued success under this new investor group.”
Milestone has been active in our target sectors of Financial Solutions and Tech-Enabled Solutions with the completion of the following significant growth capital debt refinancings for:
- mTab, a provider of market research software, database services and cloud-based data analytics platforms to enterprise clients
- Olive.com, an online direct to consumer insurance distribution platform as well as insurance marketing services
- Drive Assurance, a fully integrated omni-channel provider of specialty auto insurance
- Insure Homes, a specialty homeowners insurance and warranty platform with captive MGAs, carriers, in-house claims administration, reinsurance brokerages and a restoration business
Olive also received a minority investment from a strategic partner into its subsidiary Repair Ventures, providing additional capital and experience to assist the company in its next stage of growth.
In addition to our investment activity, the Milestone team continues to grow and develop professionally with the addition of a member in the accounting and finance department, as well as the promotion of 2 well-deserving individuals across the firm.
Our ongoing initiatives in Financial Solutions and Technology-Enabled Solutions should serve us well in the coming years. 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 are optimistic about what’s to come in the remainder of 2024.