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New State Capital Partners Adds Four Executives To Team

·3 min read

LARCHMONT, N.Y., Jan. 19, 2021 /PRNewswire/ -- New State Capital Partners ("New State") today announced the addition of four new executives and two promotions. Daniel Han joined as Head of Special Strategies; Parashar Ranade was named Senior Principal; William Marshall was appointed Operating Partner, CFO Operations; and Victoria Smorodinova joins the investment deal team as Associate. In addition, the firm has promoted Kurt Lentz to Senior Principal and Adam McDowell to Senior Associate. New State is a middle-market private equity firm that invests in business services, industrials, and consumer products.

"We are very pleased to welcome these four accomplished new members to our team and to acknowledge the contributions of Kurt and Adam with their promotions," said David Blechman, Founder and Senior Principal of New State. "Our recent investments in executive search firm Klein Hersh and consumer products wholesaler KMS are indicative of our rapid growth and the need to build our resources as we move into 2021. The appointments of Daniel, Parashar, William and Victoria expand our team to an appropriate size and capacity for sourcing and analyzing investments, as well as for increasing our focus on working with independent sponsors."

Mr. Han brings 20 years of experience in distressed credit, private equity and investment banking experience across a variety of industries, including industrials, metals, financials, infrastructure and consumer retail. Previously, he was Co-Head of North American Investments at Strategic Value Partners and a Principal at Wellspring Capital Management, where he sat on the investment committee and led transactions across the industrial and consumer sectors. He has served on 10 corporate boards, including those of publicly listed companies.

Mr. Ranade joins with 15 years of experience investing in leveraged buyouts, founder/family recapitalizations and corporate carve-outs spanning a wide range of industries including business services, technology, industrial, government services, consumer products and energy services. Prior to joining New State, he was a Principal in the U.S. LBO Fund of H.I.G. Before that, Mr. Ranade worked with Tower Three Partners, a middle-market private equity firm.

Mr. Marshall brings nine years of experience in CFO activities, investment banking, and family office investment. Prior to joining New State, he was a director in the Office of the CFO Solutions at FTI Consulting, where he led and executed client engagements for sponsor-owned companies. Previously, Mr. Marshall was an investment banker at North Point Advisors.

Prior to joining New State, Ms. Smorodinova was an Investment Banking Analyst at Stephens Inc., where she worked on a variety of middle-market transactions and assisted in the evaluation of investments for Stephens Capital Partners.

About New State Capital Partners

New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be nimble, decisive and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders, independent sponsors, and others. New State seeks to invest in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, industrials, and consumer. New State can commit more than $50 million of equity capital per transaction, using a variety of investment structures, through New State Capital Partners II, LP. New State and its affiliates have invested in 25 companies to date. For more information visit www.newstatecp.com.

Media contact:

Lambert & Co.
Joanne Lessner, jlessner@lambert.com, 212-222-7436
Caroline Luz, cluz@lambert.com, 203-656-2829

Cision
Cision

View original content:http://www.prnewswire.com/news-releases/new-state-capital-partners-adds-four-executives-to-team-301210388.html

SOURCE New State Capital Partners

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Invest in Psilocybin Therapy with Compass Pathways StockIn 2018, Compass Pathways Received Breakthrough Therapy Designation From the FDA for COMP360 for the Treatment of TRDFounded in 2016, Compass Pathways (NASDAQ: CMPS) is located on the outskirts of Karl Pilkington's stomping grounds - Manchester, England - where the company managed to raise just over $116 million in funding from around a dozen investors including Peter Thiel ahead of its IPO. The bulk of that money is being put towards developing "a proprietary, high-purity polymorphic crystalline formulation of Psilocybin," and then turning it into a therapeutic that can address a severe form of depression known as treatment-resistant depression (TRD).READ FULL COMPASS PATHWAYS ARTICLE8\. Red White & Bloom Makes Final Cash Payment for Platinum Vape Acquisition, Platinum Reports Stunning First Week of 2021 SalesRWB's Powerhouse Cannabis Band Platinum Vape Continues to See Stunning Revenue Growth With Platinum Reporting Record-Breaking Sales of USD $2.8 Million in the First Week of 2021Red White & Bloom (OTCQX: RWBYF) announced that the company has now completed all cash payments related to the Platinum Vape (PV) acquisition. Powered by increased revenue figures in all active states, Platinum Vape expects to see its sales continue to organically accelerate as the company gears up to enter Arizona in Q1 2021 as well as enter core RWB markets throughout the year.READ FULL RED WHITE & BLOOM ARTICLE7\. As the Focus on Psychedelic Stocks Increases, So Do the ValuationsWith So Many New IPOs and Companies Launching in the Psychedelic Sector, it's Important to Fully Evaluate the Major Factors of Success or Failure in the IndustryThere are various steps that companies take to have a drug approved and to successfully complete them takes years and tens of millions of dollars. The further ahead a company moves in the approval process, the more valuable the company becomes, and that is why there is so much excitement for Compass Pathways. In all, there are currently only four Psychedelic Stocks that have Phase 2 clinical trials at the comment and they are Compass Pathways (NASDAQ: CMPS), MindMed (OTCQB: MMEDF), Cybin Inc. (NEO: CYBN) and Mydecine Innovations (OTC: MYCOF).READ FULL PSYCHEDELIC STOCKS ARTICLE6\. Aphria: Multiple Analysts Raise Price Targets Following Q2 2021 ResultsAphria Now Has 11 Analysts Covering its Stock and APHA Analyst Ratings Currently Include 2 "Strong Buy" Ratings, 6 "Buy" Ratings, and 3 "Hold" Ratings, With an Average 1-Year Price Target of CDN $11.85On Friday, Aphria (NYSE: APHA) reported its second-quarter financial results for fiscal 2021. The company reported net revenues of C$160.5 million, a 10% increase quarter over quarter. Net cannabis revenue came in at C$67.9 million, an increase of 7% quarter over quarter.READ FULL APHRIA ARTICLE5\. Champignon Brands Announces New CFO and New General CounselAppointments Complete New Top Management Team Under Leadership of Chairman and CEO Dr. Roger McIntyreChampignon Brands (OTCQB: SHRMF), Chairman and CEO Dr. Roger McIntyre announced the company's appointment of Stephen R. Brooks as its new Chief Financial Officer and Peter Rizakos as the firm's new General Counsel. These appointments complete the company's new top management team put into place by Dr. McIntyre and the Champignon Board of Directors.READ FULL CHAMPIGNON BRANDS ARTICLE4\. Curaleaf: Canaccord Raises Price Target to $23.50Curaleaf Currently Has 9 Analysts Covering its Stock With 2 Analysts Issuing "Strong Buy" Ratings, 9 Issuing "Buy" Ratings and an Average 1-Year Price Target of CDN $20.19Wednesday, Canaccord came out with their updated valuations for the large three multi-state operators. In doing so, they raised their 12-month price target on Curaleaf (OTCQX: CURLF) to C$23.50 from C$18.50, while reiterating their Speculative Buy rating on the company.READ FULL CURALEAF ARTICLE3\. Peter Thiel-Backed Psychedelics Start-Up Targets Schizophrenia Ahead of IPOATAI Life Science, a Peter Thiel-Backed Start-Up, Has Taken a Majority Stake in Recognify, a Company That is Developing Drugs to Help Treat SchizophreniaNews of the Recognify deal comes after ATAI raised $125 million from investors including Peter Thiel in November ahead of a planned stock market listing this year. Total investment in the company now stands at over $210 million. The plan is to take ATAI public in the next few months at a valuation of between $1 and $2 billion, according to an industry source that asked to remain anonymous due to the nature of the discussions.READ FULL ATAI ARTICLE2\. U.S., Canadian Pot Stocks Flying High in 2021 as American Legalization Hopes RiseCannabis Stocks Are Off to a Hot Start to the Year, But Can That Momentum Be Sustained?Thanks in large part to optimism surrounding the GA Senate run-off elections that will give the Democrats control of Congress and the White House, cannabis has been one of the biggest winners of 2021, with the valuations of most Pot Stocks trading around record highs. Top U.S. Multi-State Operators (MSOs) Curaleaf (OTCQX: CURLF), Trulieve (OTCQX: TCNNF), and Cresco Labs (OTCQX: CRLBF) all posting impressive early gains. The trade is also evident in Canada, with top Licensed Producers (LPs) Canopy Growth (NASDAQ: CGC), Cronos Group (NASDAQ: CRON) and Aphria (NYSE: APHA) - fresh off quarterly results that handily beat analyst expectations - also posting strong gains.READ FULL POT STOCKS ARTICLE1\. MindMed Expands Psychedelic Microdosing Division, Adds Groundbreaking Study Evaluating LSD Microdosing Through Next-Gen Digital Clinical MarkersMindMed to Commence Groundbreaking LSD Microdosing Study Evaluating Benefits on Neuroplasticity, Sleep, Cognitive Enhancement Variables and Immune System Response on the Human BodyMindMed (OTCQB: MMEDF), a leading Psychedelic medicine biotech company announced an innovative randomized placebo-controlled study evaluating the effects of daytime and evening administration of low doses of LSD on cognitive performance, sleep quality, mood, neuroplasticity markers, emotion regulation, quality of life, and immune system response.READ FULL MINDMED ARTICLESee more from Benzinga * Click here for options trades from Benzinga * Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week * Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • These Are The 5 Best Stocks To Buy And Watch Now

    Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?

  • 2 Undervalued Gold Miners, According To RBC

    The price of gold remains restrained in the new year, although analysts generally agree that the setup for the yellow metal is positive. RBC Capital Markets analysts noted that policy is very accommodative, but any signs of economic growth could change it.Positive Outlook For gold In 2021Analyst Josh Wolfson and his team noted that the prospect of more stimulus under Joe Biden's administration is a tailwind for gold. It also yielded negative real rates globally. They expect interest rates to remain at zero until 2023, assuming a protracted recovery and low inflation.However, the RBC team also said inflation expectations have climbed with the potential for additional traction appearing in the first half of the year. They also point out that nominal yields have lagged. Further, Wolfson and his team said the Federal Open Market Committee could eventually skew rates tighter than the baseline. They added that U.S. net speculative positions are heavily short.Robust Setup For Gold Equities TooHigher gold prices have resulted in record free cash flow and deleveraging among gold miners, however the RBC team said decision-making remains conservative among miners. Companies are also being responsible about their capital investment, and RBC feels that long-term production is sustainable.One key theme for gold miners is the return of capital. Wolfson and his team said dividend yields are running 1.7%, which is sustainable down to a price of $1,350 an ounce for gold. They also said the valuations of miners do not reflect higher gold prices being sustained.Royal GoldThe RBC team looked at two gold stocks, in particular. They see Royal Gold (NYSE: RGLD) as an attractive, low-risk business insulated from inflation trends and direct operating risk. Wolfson and his team added that the company has a high EBITDA margin of 80% and high free cash flow conversion at about 90%. Royal Gold also has low dilution.The RBC analysts forecast 13% growth for the company, driven by its Cortez and Penasquito, Koemacau development and the COVID rebound. They believe Royal Gold's output is sustainable until at least 2025. Wolfson and his team also said the company is well-positioned financially with $140 million in net cash, $1.14 billion in liquidity, and cash growth net of dividends of $350 million to $400 million at spot prices.They have an Outperform rating and $150 price target on Royal Gold, and they describe its valuation as "highly attractive." The key risks are the competitive transaction landscape, potential changes in the U.S. tax law, and execution at Khoemacau.Kinross GoldThe RBC team also likes Kinross Gold (NYSE: KGC). They said the company is a first-quartile cash flow generator that benefits from gold prices, the capital expenditures cycle, and margin improvement. Wolfson and his team also said Kinross Gold's risk profile has improved after the Mauritania fiscal update and its deleveraging cycle.The company has a track record of favorable capital allocation and a history of achieving guidance. The RBC team has an Outperform rating and $12 price target on Kinross Gold, which they say is a discounted valuation. Risks improve above-average political risk exposure and project execution at Tasiast, Gilmore, and La Coipa.See more from Benzinga * Click here for options trades from Benzinga * Bitcoin Won't Replace Gold, Will Become Less Dominant In Crypto: Peltz International * Was Warren Buffett Right About Gold Mining Stocks?(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Stock market bubble bursting 'poses biggest risk to global economy'

    The stock market bubble bursting poses the biggest threat to the global economy over the next five years, top business and political leaders have warned, as investors raise the alarm over soaring stock valuations. Economic dangers, including debt crises, commodity shocks and price instability, dominated the top risks posed over the medium term in the World Economic Forum’s annual Global Risks Report. The survey ahead of the virtual Davos event next week found that an asset price bubble is the biggest risk in the next three to five years, amid fears the recent stock price rally has stretched valuations too far - particularly in the US. Infectious diseases are deemed the largest short-term risk, and weapons of mass destruction are the greatest long-term worry. The WEF survey took responses from "business, government, civil society and thought leaders".