Newport Beach-based private equity firm ClearLight Partners LLC sold its stake in TASI Group, a testing, measurement and inspection equipment maker that had been in its portfolio for about seven years.
TASI’s products are used in the automotive, life science, food and beverage, and consumer goods sectors, among others. Terms of the sale to Berwind Group in Philadelphia were not disclosed. ClearLight invested in Cincinnati-based TASI in 2007 when it recapitalized the company and provided equity and mezzanine financing.
ClearLight has $900 million in assets under management. It typically invests in companies that have revenues between $20 million and $250 million and operating income between $5 million and $20 million.
