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Latham & Watkins Advises Seven Point Equity Partners on US$120 Million Continuation Fund for RiteScreen

October 21, 2022
Multidisciplinary team across investment funds, tax, M&A, and finance represented the private investment firm.

Seven Point Equity Partners, LLC (Seven Point), a private investment firm based in Miami, has announced the closing of RS7 Continuation Fund L.P., a single-asset continuation fund with approximately US$120 million in equity commitments. The continuation fund transaction allowed certain investors in The RiteScreen Company, LLC (RiteScreen or the Company), the largest independent manufacturer of window and patio door screens in North America, to sell their stakes in the Company to the new fund, while other investors chose to retain their ownership positions in the Company. The continuation fund, managed by Seven Point, was supported by Seven Point's existing limited partners and new institutional investors led by Timber Bay Partners. Seven Point's existing investors and RiteScreen's management team rolled significant proceeds into the continuation fund as part of the transaction. The continuation fund transaction provides RiteScreen with ownership continuity and an expanded investor base with significant capital resources to drive organic growth initiatives and M&A opportunities.

Latham & Watkins LLP advised Seven Point on funds, M&A, and finance matters in connection with the transaction. The multidisciplinary team was led by New York investment funds partner Edward Nelson, with associates Matthew Wynne, Oliver Prakash-Jenkins, Connor Ross, and Andrew Borruso. Washington, D.C. partner Cheryl Coe, with associate Eli McCrain, advised on tax matters; Chicago partner Zachary Judd, with associates Henna Jalal, Cyerra McGowan, and Micah Kamoe, advised on M&A matters; and Chicago partner Cindy Caillavet Sinclair, with associates John Lister, Katherine Stork, and Perry Lumpkin, advised on finance matters.