JW Childs rebrands as Prospect Hill Growth Partners

John Childs, who co-founded the Boston-based firm in 1995, retired in February amid charges of solicitation of prostitution in Florida.

A month after its founder John Childs stepped down as chairman, private equity firm JW Childs Associates has rebranded itself as Prospect Hill Growth Partners.

“Our office is at the foot of Prospect Hill in Waltham, Massachusetts, and we like the association of the word ‘prospect’ with success,” Philippe Schenk, managing director, told Private Equity International on the choice of name.

There is no change in the investment and finance teams and Adam Suttin, managing partner, will continue leading Prospect Hill, which will manage the active investment funds established by JWC. Other partners are David Fiorentino, Jeff Teschke and William Watts.

John Childs was one of 165 subjects charged following a six-month investigation into multiple massage parlours in Indian River County, Florida carried out by the Vero Beach Police Department Special Investigations Unit, the Sebastian Police Department Criminal Investigations Unit and the Indian River County Sheriff’s Office Vice Unit.

A week after Childs was charged on a warrant issued by the Indian River County Sheriff’s Office, the firm announced Childs had stepped down from the chairman role and his position as director of the board at portfolio company KeyImpact.

At the time, a source familiar with the situation told Private Equity International the firm had had conversations related to the charging of Childs with its LPs, who have been “very supportive of the current management of the firm”.

The North America mid-market focused private equity firm invests between $25 million and $100 million in consumer and healthcare growth companies. The firm was investing from Fund V, a 2017 vintage that targeted $500 million according to filings with the Securities and Exchange Commission. It is understood Childs was not a key person on any of the firm’s active funds.

Prospect Hill Growth Partners will manage two investment funds established by JWC, which include majority interests in nine companies, its press release said. These firms include Comoto Holdings, EBLens, Honor Holdings, Outward Hound, Shoe Sensation, Siromed, Urology Management Associates and Walker Edison.