May 6, 2020, Greenville / Charleston, South Carolina – Route 2 Capital Partners SBIC, L.P. (“Route 2”) is pleased to announce its investment in JK Holdco, LLC (“JK” or the “Company”). Headquartered in Rochester, New York, the Company is a manufacturer and wholesaler of precious metal findings and jewelry sold to a global network of jewelry wholesalers and manufacturers.
Route 2 partnered with Latitude 27 Capital (“L27”), a Sarasota, Florida-based independent sponsor that invests in dynamic small and middle-market companies. Route 2 provided both subordinated debt and equity to complete the transaction.
Scott Kester, Managing Partner of Route 2 said, “We are very pleased to partner with L27 and JK CEO, Joni Lucas, to support the acquisition and the continued growth of the JK business. Joni and her team have built an attractive business in the jewelry findings industry and we look forward to leveraging the global brand of JK and accelerating its growth into new geographies.”
“Our long-term relationship with Route 2 allowed us to efficiently close the transaction. Route 2 provided sound guidance as we structured the transaction and we are excited to partner with Route 2 and Joni Lucas to enhance the growth of the JK brand,” said Jim Westman, Managing Partner at L27.
JK CEO Lucas added, “The JK team is thrilled to be partnered with Route 2 and L27 in support of the Company’s accelerated growth. Route 2's operating and financial expertise will provide a tremendous benefit as we continue our mission to serve our passionate customer base by developing unique, high quality products for the jewelry findings industry.”
Please contact Scott Kester, Patrick Weston, Jay White, or Spalding White to discuss this transaction or other investment opportunities.About Route 2 Capital Partners
R2CP is a private investment firm providing flexible junior capital solutions to lower middle market companies, primarily in the southern U.S. The firm’s partners possess over 100 years of combined investment, transactional, and operational experience. R2CP seeks to invest in established companies with minimum annual revenues and EBITDA of $10 million and $2 million, respectively, that generate predictable and profitable cash flows. R2CP's investment proceeds will be used to execute growth and expansion plans, support business recapitalizations, and facilitate management buyouts. R2CP reviews opportunities in niche manufacturing, business and healthcare services, and specialty distribution. For more information, visit www.route2capital.com.