Cale Kolbe (left) has joined Crux Capital as a senior associate and Christopher Herrod is an analyst with the firm. (Photo: Crux Capital)
Dallas-based private equity firm Clax Capital has announced the addition of Cale Kolbe as senior associate and Christopher Herrod as analyst to strengthen the firm’s capabilities in its consumer and commercial services focus areas. We have strengthened our team by welcoming two new employees.
The team expansion follows what Crux Capital managing partner Wayne Moore described as a “killer year.” In a June interview with Mergers & Acquisitions, Moore said the company had “completed two add-ons, raised restaurant holding company capital and made a platform acquisition” in 2023.
Mr. Kolbe joins Crux Capital from Kainos Capital, where he was an associate specializing in the food and consumer products sector. His experience includes working with management teams on growth initiatives and evaluating manufacturing, distribution and branded consumer products businesses.
“Kale’s addition to our team strengthens our operational expertise in the consumer sector,” Moore said in a statement. “His background in implementing value-add initiatives will be invaluable as we work to accelerate growth for our portfolio companies.” Prior to his role at Kainos, Kolbe at Crux Evaluate, execute and monitor investment opportunities and work with portfolio companies to drive long-term value creation.
Mr. Herrod, a Cowen native, works in buy-side and sell-side transactions in the services sector and will support Crux Capital in identifying and evaluating investment opportunities, performing due diligence, and supporting portfolio companies’ growth strategies.
“Christopher’s background at Cowen brings him strong transactional experience in the services sector, which aligns perfectly with one of Clax’s focus areas,” said James Kay, principal at Clax Capital. he said. “We are confident that he will be a key contributor as we expand our investment pipeline.”
Realize active investment in growing companies
Crux Capital specializes in investing in and growing consumer and service companies, with a focus on high-quality businesses where we can work closely with management teams to build long-term value. Four of Crux’s five platform companies were founded in Texas, and the company moved its fifth platform company, Buff City Soap, from Memphis to Dallas.
HTeaO: In December 2022, Crux invested in this franchisor specializing in ultra-premium tea products. HTeaO offers 24 types of sweetened and unsweetened iced teas and aims to expand to 500 stores by 2026. Superscapes: Crux added this commercial landscaping service provider to its portfolio in January 2020. With operations in Texas and Arkansas, Superscapes serves prominent real estate owners and developers. The company’s work on the 1,000-acre Cypress Waters development in Dallas was recently recognized in the industry for addressing water distribution and soil management challenges. Woody’s Brand: In May 2022, Crux invested in Woody’s, which operates multiple bar-restaurant concepts in Texas and Louisiana. Woody’s manages two brands: Little Woodrow’s, a neighborhood bar and “beer garden,” and Fast Eddie’s, a traditional pool hall. Uncommon Brands: Crux’s most recent investment was made in December 2023, with the company backing Uncommon Brands, a holding company created to invest in and expand restaurant brands. The first partnership is with Tex-Mex concept Fuego Tortilla Grill, with plans to add additional limited-service restaurant brands.
Crux Capital is also successful in realizing investments. In November 2019, the company invested in Buff City Soap, a franchisor of handcrafted, plant-based personal care products. Crux partially exited the business in May 2021 and May 2022, selling its shares to General Atlantic. Buff City Soap continues to grow and recently expanded into liquid laundry soap.
Crux Capital finds Dallas the perfect home for growth
Moore, a hedge fund veteran, founded Clax Capital in Dallas about six years ago. The decision was made based on data after Moore hired an analytics firm to conduct a detailed study of the top 100 U.S. markets. Ultimately, the combination of Dallas’ population growth, vibrant business environment and strategic location in central Texas made Dallas the clear choice, according to Mergers & Acquisitions.
Moore emphasized that the decision was not just about short-term profits. The goal was to launch Crux Capital with the goal of sustainable, long-term growth in the increasingly competitive private equity environment. “Dallas was the best place in the country to start a private equity firm,” Moore told the publication.
Please put it on the list.
Dallas innovates every day.
Sign up to stay up-to-date on what’s new and next in Dallas-Fort Worth, every day.
Read next
Mobility startups from all over the world are invited to apply, including those focused on innovative ideas for transporting people and goods. The unique accelerator program supports startups in the automotive ecosystem, from AI-powered industrial solutions and transportation infrastructure to dealer support and related services.
In 2023, founders looking for venture capital had fewer investors and less money. Pitchbook reports that the number of U.S. deals in the first three quarters of 2023 was slightly higher than the number of deals in the same period in 2018. The situation was similar in North Texas. But despite the tight investment market, Dallas-based Beyond Capital is working to reverse that trend by investing in more startups. The company plans to open a third fund to new investors in the first quarter of 2024. Beyond Capital is looking for startups in need of seed to Series A investment. what…
Even as the world is being reshaped by remote work and virtual services, do Americans still believe that owning a car is essential to getting ahead in the workforce? , investigated how everything from employment to social security will affect upward mobility post-pandemic.
The newly formed Texas Capital Foundation is restarting accepting new applications this November, following its first round of grant awards.
The Capital One program is one of the few mobility-focused accelerators in the country, allowing visionary founders to strengthen their startup expertise, expand their networks, and attract investors. We will assist you in this way. The latest team finished with outstanding pitching and a notable win.
