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Private Equity
FINANCE | Investment Firms & Funds
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Investments

19

Portfolio Exits

18

Funds

7

Partners & Customers

2

Service Providers

3

About Lightyear Capital

Lightyear Capital is a financial services-focused private equity firm based in New York. Lightyear makes primarily control investments in North America-based, middle-market financial services companies. Lightyear targets investments across the financial services spectrum, including asset management, banks, brokerage, financial technology, insurance, and specialty finance.

Lightyear Capital Headquarters Location

9 W 57th St

New York, New York, 10019,

United States

212-328-0555

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Latest Lightyear Capital News

NJ Devils, Philly 76ers veteran named Schellman CFO

Sep 30, 2022

Published Sept. 29, 2022 Dive Brief: Schellman & Company, a provider of financial attestation and compliance, appointed Andy Goldstein to its top financial seat, according to a Sept. 27 press release. The appointment comes in the wake of pivotal growth plans for the company — potential firms have been identified for mergers and acquisitions, and establishing an international footprint is top of mind, said Avani Desai, the company’s president and CEO in an emailed response to questions. “Schellman’s primary focus now is 2023. This will be the first year that I’ve had my full C-suite team in place. We’ve already proven that we have the wherewithal to drive aggressive growth,” Desai wrote in an email. Dive Insight: Goldstein comes to Schellman’s financial helm with 22 years of C-suite leadership experience, including several previous CFO roles. He has served as the finance chief at multiple private equity-sponsored portfolio companies in broadcast technology, digital media, data and sports & entertainment industries — most recently at The Switch, where he served as CFO since January 2020. His portfolio also includes CFO roles at Infogroup and Purch. Before that, he acted as CFO for big name sports brands including the New Jersey Devils and Philadelphia 76ers, according to his Linkedin profile. “In each of his CFO roles, Andy helped these organizations meet their ambitious growth objectives, allowing the sponsoring private equity firm to execute their desired exit strategy,” said Desai. “As it relates to Schellman specifically, given our specialization in IT compliance and cybersecurity — areas that continue to demand an increasing amount of focus and investments from organizations across all verticals — the growth potential seems almost limitless,” she said. Goldstein’s predecessor, PJ Sheil, was the company’s first CFO and retired in January 2022 after the company's recapitalization with Lightyear Capital , said Desai. The financial services-focused private equity firm agreed to partner with Schellman in September 2021 to facilitate their next phase of growth, according to a company statement. “Adding inorganic growth to the mix has long been a desire of mine, and the Lightyear acquisition helped accelerate that prospect. So, finding a CFO with M&A experience was critical to the hire. We do have some potential target firms identified, but nothing we can disclose at this time,” said Desai on the company’s plans for the near future in terms of M&As. Schellman, offering clients information technology and cybersecurity audits and assessments — including SOC examinations and ISO certifications drew in $102 million for revenue for FY2021, according to the company website . The private firm has over 900 clients, including numerous publicly traded and Fortune 500 companies.

Lightyear Capital Investments

19 Investments

Lightyear Capital has made 19 investments. Their latest investment was in PracticeTek as part of their Recap on December 12, 2021.

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Lightyear Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/6/2021

Recap

PracticeTek

Yes

3

9/20/2021

Private Equity

Schellman & Company

Yes

2

7/24/2018

Private Equity

Therapy Brands

Yes

1

10/3/2017

Private Equity

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$99M

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10

7/3/2017

Private Equity

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$99M

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10

Date

12/6/2021

9/20/2021

7/24/2018

10/3/2017

7/3/2017

Round

Recap

Private Equity

Private Equity

Private Equity

Private Equity

Company

PracticeTek

Schellman & Company

Therapy Brands

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Amount

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

2

1

10

10

Lightyear Capital Portfolio Exits

18 Portfolio Exits

Lightyear Capital has 18 portfolio exits. Their latest portfolio exit was Datalot on June 29, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/29/2021

Acquired

$99M

2

4/7/2021

Acq - Fin

$99M

5

7/31/2019

Acq - Fin - III

$99M

2

5/9/2019

Acq - Fin - II

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$99M

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10

8/7/2018

Acq - Fin

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$99M

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10

Date

6/29/2021

4/7/2021

7/31/2019

5/9/2019

8/7/2018

Exit

Acquired

Acq - Fin

Acq - Fin - III

Acq - Fin - II

Acq - Fin

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

5

2

10

10

Lightyear Capital Acquisitions

27 Acquisitions

Lightyear Capital acquired 27 companies. Their latest acquisition was Wren Sterling on July 21, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/21/2021

$99M

Management Buyout

3

10/20/2020

Private Equity

$99M

Acq - Fin

2

6/22/2020

Series A

$99M

$6.5M

Acq - Fin - II

2

6/25/2019

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$99M

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10

5/1/2019

Debt

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$99M

$99M

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10

Date

7/21/2021

10/20/2020

6/22/2020

6/25/2019

5/1/2019

Investment Stage

Private Equity

Series A

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$6.5M

$99M

Note

Management Buyout

Acq - Fin

Acq - Fin - II

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Sources

3

2

2

10

10

Lightyear Capital Fund History

7 Fund Histories

Lightyear Capital has 7 funds, including Lightyear Fund V.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/15/2021

Lightyear Fund V

$1,600M

3

11/28/2017

Lightyear Capital IV

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$99M

10

11/27/2017

Lightyear IV Co-Investment Fund

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$99M

10

9/1/2012

Lightyear Fund III LP

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$99M

10

3/6/2007

Lightyear Fund II LP

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$99M

10

Closing Date

11/15/2021

11/28/2017

11/27/2017

9/1/2012

3/6/2007

Fund

Lightyear Fund V

Lightyear Capital IV

Lightyear IV Co-Investment Fund

Lightyear Fund III LP

Lightyear Fund II LP

Fund Type

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Status

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Amount

$1,600M

$99M

$99M

$99M

$99M

Sources

3

10

10

10

10

Lightyear Capital Partners & Customers

2 Partners and customers

Lightyear Capital has 2 strategic partners and customers. Lightyear Capital recently partnered with Schellman & Company on September 9, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

9/17/2021

Partner

United States

Lightyear Capital Partners with Schellman & Company, LLC to Support Next Phase of Growth Strategic Investment in a Global Leader of Technology Enabled Cybersecurity Audit and Assessment Services in a $3 Billion, Rapidly Growing Industry.

Jay Comerford , Managing Director of Lightyear Capital LLC , said : `` Over the past several years while actively prospecting growth opportunities in cybersecurity audits and assessments , we developed a relationship with the management team at Schellman & Company , LLC .

3

4/1/2014

Partner

United States

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10

Date

9/17/2021

4/1/2014

Type

Partner

Partner

Business Partner

Country

United States

United States

News Snippet

Lightyear Capital Partners with Schellman & Company, LLC to Support Next Phase of Growth Strategic Investment in a Global Leader of Technology Enabled Cybersecurity Audit and Assessment Services in a $3 Billion, Rapidly Growing Industry.

Jay Comerford , Managing Director of Lightyear Capital LLC , said : `` Over the past several years while actively prospecting growth opportunities in cybersecurity audits and assessments , we developed a relationship with the management team at Schellman & Company , LLC .

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Sources

3

10

Lightyear Capital Service Providers

3 Service Providers

Lightyear Capital has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Stephens

Acq - Fin - II

Investment Bank

Financial Advisor

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Service Provider

Stephens

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Associated Rounds

Acq - Fin - II

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

Lightyear Capital Team

15 Team Members

Lightyear Capital has 15 team members, including current Founder, Managing Director, Louise M Duchesne.

Name

Work History

Title

Status

Louise M Duchesne

Founder, Managing Director

Current

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Name

Louise M Duchesne

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Work History

Title

Founder, Managing Director

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Status

Current

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