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Great Elm Group Reports Fiscal 2024 First Quarter Financial Results

Retrieved on:

Wednesday, November 8, 2023

Financial result, Fiscal, EBITDA, Conference, REIT, Monomoy, Greenbriar Capital Corp, GEG, Cryptocurrency, Reinsurance, Car rental, Bank

WALTHAM, Mass., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal first quarter ended September 30, 2023.

Key Points:

WALTHAM, Mass., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal first quarter ended September 30, 2023.
GEG collected incentive fees for the second consecutive quarter from Great Elm Capital Corp. (“GECC”), totaling $1.3 million for the three months ended September 30, 2023.
Adjusted EBITDA for the first quarter was $1.7 million, compared to $0.7 million for the prior year period.
Jason Reese, Chief Executive Officer of Great Elm Group, stated, “As we begin our new fiscal year, we are pleased with the Company’s progress, pivoting to a streamlined business focused on alternative asset management.

Monomoy Capital Partners Announces Exit of Shaw Development

Retrieved on:

Tuesday, October 31, 2023

Asset Management, Professional Services, Finance, Sale, Madison Dearborn Partners, Jefferies Group, Original equipment manufacturer, Monomoy, MML Capital Partners, Growth, Transport, Partnership, TD, DEF, Airline

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, is pleased to announce the sale of Shaw Development to Madison Dearborn Partners.

Key Points:

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, is pleased to announce the sale of Shaw Development to Madison Dearborn Partners.
Shaw Development is a leading designer, manufacturer and assembler of sensors, fluid management systems and related components primarily for diesel exhaust fluid (DEF) applications.
“Our united commitment to improve the business created lasting value for Shaw and our future partners.
Jefferies LLC served as exclusive financial advisor to Shaw Development and Monomoy with respect to the transaction; TD Cowen advised the Board of Directors of Shaw Development.

Great Elm Group Reports Fiscal 2023 Fourth Quarter and Full Year Financial Results

Retrieved on:

Wednesday, September 20, 2023

WALTHAM, Mass., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal fourth quarter and year ended June 30, 2023.

Key Points:

WALTHAM, Mass., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal fourth quarter and year ended June 30, 2023.
GEG collected incentive fees from Great Elm Capital Corp. (“GECC") for the first time in the Company’s history, totaling $1.0 million for the fourth quarter.
On May 15, 2023, GEG’s Board of Directors appointed Keri Davis as Chief Financial Officer of Great Elm, expanding upon her role as Chief Financial Officer of GECC.
Discussion of Financial Results for the Fiscal Year Ended June 30, 2023
Total revenue for the fiscal year ended June 30, 2023 increased 92% to $8.7 million from $4.5 million in the prior fiscal year.

Blue Wolf Capital Names Stephen Madsen Managing Director, Business Development

Retrieved on:

Wednesday, September 20, 2023

Asset Management, Professional Services, Environmental, Social and Governance (ESG), Finance, Columbia University, Blue Wolf, Gerson Lehrman Group, Marketing, History, Intelligence, Research, Creativity, Monomoy, Interior design, Security (finance)

Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the healthcare and industrial sectors, announced today the hiring of Stephen Madsen, who will lead the firm’s business development team as Managing Director.

Key Points:

Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the healthcare and industrial sectors, announced today the hiring of Stephen Madsen, who will lead the firm’s business development team as Managing Director.
Mr. Madsen will be responsible for identifying unique investment opportunities, coordinating with the senior investment team to source high-potential deals and managing the intermediary selection process for portfolio company transactions.
“Stephen will greatly enhance our business development efforts and deal pipeline,” said Jeremy Kogler, Managing Partner at Blue Wolf.
“Blue Wolf has an unmatched level of creativity and intelligence behind its investment capabilities,” said Mr. Madsen.

Monomoy Capital Partners Announces Second Credit Opportunities Fund with $300 Million Committed from New and Returning Investors

Retrieved on:

Thursday, September 7, 2023

Asset Management, Professional Services, Finance, APriori Capital Partners, Monomoy, Investment, History, Bank

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced today it has reached its fundraising target for Monomoy Credit Opportunities Fund II (MCOF II) with $300 million in total commitments.

Key Points:

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced today it has reached its fundraising target for Monomoy Credit Opportunities Fund II (MCOF II) with $300 million in total commitments.
The fund has begun deploying capital and is actively involved in a number of investments to date.
MCOF II’s limited partner base notably includes 100% of investors from MCOF I, a testament to Monomoy’s credit investment history and approach.
“We are grateful for the continued confidence and loyalty of our existing LP base and more than pleased to welcome new investors to support our second Credit Opportunities Fund,” commented Monomoy Partner and Head of Credit Strategies David Robbins.

Monomoy CRE, LLC Hires Experienced Real Estate Professional Andrew Wright as Vice President of Real Estate

Retrieved on:

Wednesday, September 6, 2023

PTP, American Institute of Certified Planners, Canadian Institute of Transportation Engineers, University, Transport, Secretary of State of New Jersey, Acquisition, AICP, Corporate real estate, Knowledge, Monomoy, American Institute, Real estate, Management, Geography

CHARLESTON, S.C., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Monomoy CRE, LLC (“we,” “us,” “our,” or “Monomoy,”) announced today the hiring of Andrew Wright, as Vice President of Real Estate.

Key Points:

CHARLESTON, S.C., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Monomoy CRE, LLC (“we,” “us,” “our,” or “Monomoy,”) announced today the hiring of Andrew Wright, as Vice President of Real Estate.
Mr. Wright is an accomplished industry veteran with over 20 years of land acquisition, entitlement, and construction management experience in all avenues of commercial real estate.
Most recently, Mr. Wright served as Senior Director of Corporate Real Estate for WillScot Mobile Mini Holding Corp. Mr. Wright has also held various leadership positions on numerous boards.
“Andy’s extensive experience and knowledge working with some of the largest players in the industrial market will further support Monomoy in providing creative solutions to tenants’ real estate needs.”

Great Elm Group, Inc. Appoints Jason Reese as CEO

Retrieved on:

Friday, May 5, 2023

Yale University, Executive, Imperial Capital, Penn State Board of Trustees, REIT, Electrical engineering, ICAM, The Co Founder, Monomoy, Jason Reese, GEG, Management

The Board of Directors has unanimously appointed Jason Reese to the additional role of CEO effective upon Mr. Reed’s resignation.

Key Points:

The Board of Directors has unanimously appointed Jason Reese to the additional role of CEO effective upon Mr. Reed’s resignation.
Jason Reese assumes the CEO position at GEG as a successful entrepreneur and financial services executive with over 30 years of experience founding and growing multiple financial services and real estate companies.
Mr. Reese served as the Executive Chairman of our Board of Directors since February 2020 and will now serve as Chairman of the Board and CEO.
The appointment of Jason as CEO is the natural culmination of our repositioning efforts.”
Jason Reese stated, “I want to take the opportunity to thank Pete Reed for his service and contributions to Great Elm.

Great Elm Group Reports Fiscal 2023 Third Quarter Financial Results

Retrieved on:

Friday, May 5, 2023

WALTHAM, Mass., May 05, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal third quarter ended March 31, 2023.

Key Points:

WALTHAM, Mass., May 05, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal third quarter ended March 31, 2023.
Peter Reed resigned as GEG’s Chief Executive Officer, effective immediately following the filing of GEG’s Form 10-Q for the fiscal quarter ended March 31, 2023.
Fee paying assets under management totaled $438.3 million as of March 31, 2023, approximately unchanged from December 31, 2022, and up approximately 7% fiscal year-to-date.
Jason Reese, Chief Executive Officer of the Company, stated, “In the third quarter of fiscal 2023, we completed the transformation of Great Elm Group to a simplified business focused on alternative asset management.

Ashore Resort & Beach Club to Open in Ocean City, Maryland Following Transformative Renovation

Retrieved on:

Monday, April 17, 2023

OCEAN CITY, Md., April 17, 2023 /PRNewswire/ -- Certares and its partners today announced the opening of Ashore Resort & Beach Club ("Ashore"), a newly reimagined upscale resort destination set on prime beachfront location in Ocean City, Maryland. Following a property-wide renovation to be completed this spring, Ashore defines a new standard of destination travel on the Maryland coast, offering the area's most exceptional beachfront resort. Ashore features panoramic views of the Atlantic Ocean and the tranquil Assawoman Bay, oceanside food & beverage service and amenities, a new 3,000 square feet deck overlooking the waves of the Atlantic, exciting new restaurant concepts and lively beachfront entertainment.

Key Points:

Following a property-wide renovation to be completed this spring, Ashore defines a new standard of destination travel on the Maryland coast, offering the area's most exceptional beachfront resort.
The resort comprises 250 fully renovated guest rooms and suites, including 15 multi-room suites, catering to individuals, families and groups of all sizes.
Guests are encouraged to order food and cocktails directly from their chairs or cabanas, on the resort's fully-serviced beach, a unique feature for Ocean City.
As the only full resort experience in Ocean City, Ashore promises effortless luxury and total guest restoration.

Great Elm Group Reports Fiscal 2023 Second Quarter Financial Results

Retrieved on:

Monday, February 13, 2023

Durable medical equipment, Investment, GEG, DME, JPM, Acquisition, Sale, REIT, Financial result, NOL, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Growth, Monomoy, Conference, Fiscal year, Cryptocurrency, Security (finance), Pharmaceutical industry, Bank

WALTHAM, Mass., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” or “Great Elm”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal second quarter ended December 31, 2022.

Key Points:

WALTHAM, Mass., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” or “Great Elm”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal second quarter ended December 31, 2022.
On January 3, 2023, GEG sold its Durable Medical Equipment (“DME”) business for $80 million.
GEG retained approximately $154 million of net operating loss (NOL) carryforwards for federal income tax purposes, approximately $131 million of which can be used for certain taxable income in fiscal year 2023 but expire on June 30, 2023.
GEG recognized Adjusted EBITDA of ($1.2) million for the second quarter, approximately unchanged from the same period in the prior fiscal year.