ROWAYTON, Conn., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Eaton Partners, one of the world’s leading private capital advisory and fund placement firms and a wholly-owned subsidiary of Stifel Financial Corp. (NYSE: SF), is pleased to have acted as the exclusive financial advisor for CommonWealth Equity Partners (“CommonWealth”). Eaton Partners worked alongside CommonWealth to raise the firm’s CommonWealth Equity Partners Fund I, LP, recapitalize existing investors in Ecore International (“Ecore”), and secure follow-on capital to fund future acquisitions. Ecore is a global leader in transforming rubber waste into high performance products and surfaces.
Founded in 2020, CommonWealth is a Pennsylvania-based private equity firm that makes control investments in ESG and circular economy-focused companies. The firm seeks to partner with middle market companies with unique value-added circular economy products, processes, technology, and/or unique IP with strong management in place, and no dependencies on government subsidies. “We believe that companies, like Ecore, who invest in ESG and the circular economy can and will continue to outperform the market,” said Robert Bernard, Partner and Co-Founder at CommonWealth.
Using over 120 million pounds of rubber tire waste annually, Ecore upcycles reclaimed rubber waste into high-performance products and surfaces for global industry leaders. Ecore’s customers include professional sports teams, sports and recreation facilities, fitness centers, hospitals, commercial interiors, hotels and lodging, transportation facilities, and competitive equestrian facilities. In addition, Ecore’s longstanding commitment to customer safety and the environment has helped the company thrive through the COVID-19 pandemic. According to Michael DeRosa, Partner and Co-Founder of CommonWealth, “Ecore has long been an innovative leader in profitably selling sustainable, circular products and I am extremely pleased for CommonWealth to have been able to partner with Art Dodge to lead this recapitalization as the company focuses on its next wave of growth.”
The fund received strong support from a diverse range of institutional investors, including top-tier private equity secondaries firms, family offices, foundations, and asset managers. "We are proud to advise and support CommonWealth through its successful capital raise of the firm’s first fund and the recapitalization of Ecore’s existing capital base," said Michael Pilson, Managing Director at Eaton Partners. “In my experience, I have never seen a more actionable, exciting ESG deal, and our ability to raise funds was in large part due to the incredibly innovative work that Ecore does.”
For Art Dodge, Founder and CEO of Ecore, the partnerships with Eaton and CommonWealth have been critical during this past year. “When the shutdown hit, Eaton and CommonWealth maintained focus on the key attributes of the management teams’ track record, Ecore’s business model and resilience during the pandemic. I am incredibly proud of the work we are doing in our industry, and having great partners work with us to overcome the fundraising hurdles created by this pandemic speaks volumes about their approach to partnership.”
In addition to raising primary fund capital globally, Eaton Partners’ secondaries group focuses on GP-led transactions, which includes fund recapitalizations, restructuring, and other secondary transactions, and has an active direct placements business. Over the last two years, Eaton Partners has advised GPs and companies on over $3.0 billion of secondary and direct investment transactions.
About Eaton Partners
Eaton Partners, a Stifel Company, is one of the world’s largest capital placement agents and fund advisory firms, having raised more than $140 billion across more than 140 highly differentiated alternative investment funds and offerings. Founded in 1983, Eaton advises and raises institutional capital for investment managers across alternative strategies – private equity, private credit, real assets, real estate, and hedge funds/public market – in both the primary and secondary markets. Eaton Partners maintains offices and operates throughout North America, Europe, and Asia.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners subsidiary Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners subsidiary Eaton Partners Advisors (HK) Limited is approved as a Type 1-licensed company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company. ® Eaton Partners, 2020.
About CommonWealth Equity Partners
Founded in 2020, CommonWealth is a Pennsylvania-based private equity firm that makes control investments in ESG and circular economy-focused companies. The firm seeks to partner with middle market companies with unique value-added circular economy products, processes, technology, and/or unique IP with strong management in place and no dependencies on government subsidies. For more information, please visit www.cwequity.com.
About Ecore International
Ecore is a global leader in transforming rubber waste into high performance products and surfaces. Ecore’s customers include professional sports teams, sports and recreation facilities, fitness centers, hospitals, commercial interiors, hotels and lodging, transportation facilities, and competitive equestrian facilities. For more information, please visit www.ecoreintl.com.
About Stifel
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Media Contacts
Neil Shapiro, +1 (212) 271-3447
shapiron@stifel.com
Jeff Preis, +1 (212) 271-3749
preisj@stifel.com