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Asset/Investment Management
sobro.se

Portfolio Exits

2

About Sobro

Sobro, founded in 2007, is an investment company focused on developing Swedish unlisted companies operating in attractive markets. The Company partners with previous owners and/or management to continue to grow and develop businesses.

Headquarters Location

Regeringsgatan 45, 6th Floor P.O. Box 7751

Stockholm, 103 96,

Sweden

+46 8 566 422 03

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Latest Sobro News

LIM College Partners with South Bronx (SoBro) Economic Development and Local 338 RWDSU/UFCW to Enhance Educational...

Nov 21, 2022

PR Newswire Tuition discounts, scholarships, and waived application fees available for eligible students NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Midtown Manhattan's LIM College has helped thousands of students achieve their dream careers in the business of fashion for more than 80 years. This fall, LIM expanded beyond fashion into lifestyle degree offerings, assuming a national leadership position in readying students to enter the burgeoning legal cannabis industry. AD AD With the goal of opening more educational opportunities for diverse students to pursue cannabis degrees, or any degree program LIM offers, the College has established partnership agreements with South Bronx Overall Economic Development Corporation ( SoBro ) and Local 338 Retail, Wholesale and Department Store Union (RWDSU)/United Food and Commercial Workers (UFCW), which represents cannabis workers, among others. The educational incentives offered under these partnerships include waived application fees, tuition discounts of $100 per credit, and scholarships of up to $13,000 to eligible members of each organization as well as their employees, dependents, and retirees. "Leadership in cannabis requires collaboration across a broad spectrum of community stakeholders. LIM is excited to partner with industry, government, labor unions, and other mission-driven organizations that understand the importance of education in creating an equitable industry," said Michael Zaytsev, academic director of cannabis degree programs at LIM. "We are attracting both traditional and non-traditional students, including several who were not planning to go to college at all until they discovered the opportunity to study the business of cannabis at LIM College," Zaytsev noted. According to Zaytsev, "We have a diverse group of students, including those who have just graduated from high school to those with advanced degrees in other fields. They are coming to LIM for the opportunity to be at the forefront of a unique industry that is not only experiencing rapid growth, but also represents a vehicle for making a significant impact in matters of public health, social justice, environmental stewardship, and more." SoBro's Gustavo McClain, who is the organization's director of workforce training, and is also a student in LIM's Business of Cannabis master's degree program, said that education is everything, especially in a completely new industry. "At SoBro, we have monitored activities surrounding the legalization of cannabis in New York and elsewhere, and believe that now is the time to act," he said. "The partnership with LIM is one of the first steps we are taking because being able to offer incentives to become educated in this new business is critical to bringing people into the industry in the right way, giving them access to resources, education, jobs and job growth over time. The social equity aspect is important to us, as the South Bronx has historically had some of the highest crime, poverty and homelessness rates and our organization is working to reverse these trends. LIM can be a major piece of that," he said. AD AD McClain added that as an LIM student he is experiencing first-hand what those from the SoBro community could have the opportunity to do through the partnership. "In my personal experience as an LIM cannabis student, I am seeing how well-rounded and accessible the education is there. LIM gives me access to industry experts as well as a depth of information and academic support that I cannot get elsewhere. Offering enhanced access to this same experience in the SoBro community is something we believe in doing." Nikki Kateman, political and communications director for Local 338 RWDSU/UFCW, said the educational partnership with LIM is part of the union's commitment to making all types of tools available and removing barriers to higher education and "high road" employment for its members, meaning jobs with family-sustaining wages, benefits, and career pathways. "We approach supporting workers in a holistic manner, not just on the job, but also within their broader lives and communities, including educational opportunities in a skilled business such as cannabis, which will offer many opportunities to move up the ladder quickly as happens in new industries," she said. "We want to make higher education accessible to our members and their families and believe the partnership with LIM is a natural one as the College has a commitment to educational advocacy in the business of cannabis and brings unique degree programs, expert faculty, and an inclusive sensibility. LIM College is a trusted partner that shares our goals," Kateman added. "There are a growing number of serious careers in the rapidly expanding cannabis industry for those with the right business knowledge and skills," said Michael P. Londrigan, acting provost at LIM. "These careers are in sales and marketing, branding and social media, retail management, product development, manufacturing and operations management, compliance, supply chain and logistics, and more." Continued Londrigan, "This new industry will need graduates who can hit the ground running with in-depth knowledge of the unique nature of the cannabis business. LIM is leading the way in readying students who will have specific knowledge, real world experiences, and degrees in hand, putting them head and shoulders above others entering the industry." AD About LIM College Founded in 1939 and located in midtown Manhattan, LIM College is focused on the global business of fashion and lifestyle. Offering master's, bachelor's and associate degree programs, LIM prepares students for career success through an immersive approach grounded in real-world experience and learning by doing through required internships. LIM College's commitment to excellence in business education ensures graduates are sought after by a wide range of employers. Alumni excel throughout all areas of fashion and lifestyle and have gone on to work for companies such as Chanel, Gucci, Ross Stores, The Financial Times, Ulta Beauty, Google, Saks Fifth Avenue, and cannabis industry companies such as TerrAscend and iAnthus. About Local 338 Local 338 RWDSU/UFCW proudly represents approximately 13,000 working men and women employed in a variety of different industries across New York State and northern New Jersey including food retail, pharmaceutical retail, health care and human services, transportation, agriculture, and cannabis. About SoBro SoBro employs a comprehensive approach to economic development in the South Bronx. Founded in 1972 to reverse the flight of businesses and jobs from the community SoBro's programming has expanded over time to respond to the growing needs of the South Bronx and its growing capacity as an organization. SoBro addresses all facets of community development: assisting businesses to get started and grow, training residents according to the needs of employers, offering opportunities for youth to grow and learn, and creating affordable housing and commercial space that reduces blight in the community. Contact: Anne Roman

Sobro Portfolio Exits

2 Portfolio Exits

Sobro has 2 portfolio exits. Their latest portfolio exit was Candidator on January 11, 2018.

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

1/11/2018

Acq - Fin - II

$99M

1

2/29/2016

Acq - Fin

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$99M

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10

Date

1/11/2018

2/29/2016

Exit

Acq - Fin - II

Acq - Fin

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

10

Sobro Acquisitions

2 Acquisitions

Sobro acquired 2 companies. Their latest acquisition was Candidator on July 02, 2013.

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

7/2/2013

$99M

Acq - Fin

1

11/18/2010

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$99M

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10

Date

7/2/2013

11/18/2010

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acq - Fin

Subscribe to see more

Sources

1

10

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