Pamlico Capital Announces Recapitalization of World 50
Pamlico Capital (“Pamlico”) and the management team of World 50, Inc. (“World 50” or the “Company”) announced today that Pamlico has completed a recapitalization of the Company. CEO David Wilkie and other management team members will maintain significant ownership in World 50 and will continue to manage the growth of the Company with support from Pamlico. Further transaction details have not been disclosed.
Headquartered in Atlanta, Georgia and founded in 2004, World 50 is an exclusive, invite-only peer-to-peer network and knowledge exchange platform serving senior executives at leading corporations. With over 900 members from more than 500 companies on six continents, World 50’s peer groups help busy executives build high-value relationships and stay ahead of complex business issues.
Mr. Wilkie noted, “Our team is proud of the growth and success we have achieved to date and we are excited about taking this next step with Pamlico. We chose to partner with Pamlico because of their core values, strong appreciation for our mission, and track record of accelerating growth at portfolio companies.”
Pamlico Partner Walker Simmons said, “The management team’s passion for their business, unique corporate culture, and history of exceeding expectations immediately impressed us. They have a differentiated business model and an unparalleled focus on delivering for their members.” Pamlico Partner Stuart Christhilf added, “We look for investments where we can collaborate with management to set a strategic vision for accelerated growth. David and the World 50 team are poised to expand across multiple fronts, and the business represents a leading platform in the peer to peer networking space from which to do that.” World 50 is the eighth investment in Pamlico Capital III, a fund with $650 million of committed capital.
World 50 was advised by The Jordan, Edmiston Group, Inc. (exclusive financial advisor) and Kirkland & Ellis LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.