Jan 28, 2021
On behalf of the entire Kian team, we would like to thank our management team partners, investors, deal sources and other stakeholders for their incredible efforts and support throughout 2020 — a year of both substantial challenges and notable achievements. It is our objective to build companies with enduring value through the establishment of genuine partnerships. This past year, more than ever, we have relied on the trust, commitment and respect that has been established within these relationships to best navigate the difficult times faced by us all.
As you know, the impact of COVID-19 has been felt across the entire economy and our portfolio has not been immune. At the same time, we’ve been fortunate to have several companies perform extremely well during this period. Throughout the year, we worked closely with our portfolio company executives to proactively respond to the evolving economic conditions with the first priority being the safety of the employees and customers of each of our portfolio companies.
Despite the challenges, we’re proud of the following noteworthy accomplishes:
Over $70 million of New Investment Capital Deployed
Much of the year has been focused “inward” to our current portfolio companies and their respective stakeholders. However, Kian was able to deploy over $70 million of investment capital in transactions that included two control platforms, one minority investment and three add-ons for existing portfolio companies.
Three Successful Exits
In the midst of a chaotic year, Kian was able to successfully exit from three investments:
- TrueLearn through a sale to LLR Partners;
- TPS through the recapitalization of the business; and
- Empire Group through a sale to PNC Riverarch.
Recognized as an Inc. Top 50 Founder-Friendly PE Firm
When we started Kian, our vision was to create a firm that took the time to build relationships based on trust, transparency and a shared vision for success with every founder and entrepreneur with which we partnered. Accordingly, we are especially proud to announce that we were named one of Inc.’s Top 50 founder-friendly private equity firms of 2020. Access the full Inc. PE Top 50 list for 2020 here.
Kian Growth Partners III to Begin Fundraising
We expect to kick-off fundraising for our third fund in early February 2021. The fund will build upon the same successful strategy as our prior two funds — focusing on being first institutional capital into leading founder/management owned businesses in sectors that we have demonstrated experience.
Charitable Efforts & Community Support
Businesses around the world have been severely impacted by the pandemic and the crisis has also impacted the nonprofit organizations integral to the health and safety of our communities. To assist in their time of need, Kian made contributions to the charities listed below to further their relief efforts during 2020. The missions of these organizations are more relevant now than ever given the economic strain COVID-19 has placed on the communities where we live and work.
- Atlanta Community Food Bank
- Feed the Front Line Charlotte
- Loaves and Fishes
- The Giving Kitchen
Kian team members also spent time with local businesses providing guidance on the various elements and relief benefits related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion relief package passed in March of 2020.
Looking Forward into 2021
After a difficult year, we are looking forward to the hope and opportunity 2021 presents. We are seeing positive momentum across a number of our portfolio companies and are starting the year off progressing to later stages on a few new investment opportunities and portfolio company add-ons. In addition, we continue to actively pursue opportunities in four specialized investment theses: Branded/Enthusiast DTC, Home Services, Professional A/V Integration and Managed Services and Insurance Services.