J.W. Childs Associates has changed its name one month after its co-founder retired.
The Waltham, Massachusetts, firm is now Prospect Hill Growth Partners. J.W. Childs’s investment and finance staff will remain in place and continue to manage the active investment funds the firm established, a statement said.
Prospect Hill will include 16 investment and finance professionals including Adam Suttin, managing partner, and Partners David Fiorentino, Jeff Teschke and William Watts.
The rebrand is something J.W. Childs has been evaluating for a decade, said Philippe Schenk, a Prospect Hill managing director. “With the retirement of John, it triggered the actual name change,” he said.
Prospect Hill is not a growth fund, Schenk said. The firm will continue the strategy of J.W. Childs, which focuses on investing in mid-market North American consumer and healthcare companies. Prospect Hill will manage two J.W. Childs funds, which include majority interests in nine companies.
The firm is in the market, targeting $500 million for its fifth fund, Buyouts reported in February. Fund V had collected at least $209.2 million as of November, an SEC filing shows.
John Childs helped establish the firm that bears his name in 1995. In February, he retired from J.W. Childs after he was charged with soliciting prostitution in Florida.
Childs, 77, has denied the allegations, according to press reports.
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