J.W. Childs Gets A New Name After Founder Accused Of Solicitation

WALTHAM, MA — J.W. Childs Associates, a private equity firm that invests in consumer and healthcare growth companies, announced Monday it is changing its name to Prospect Hill Growth Partners. The announcement comes as its company founder retired after accusations surfaced that he solicited services from prostitutes in Florida, in the same sting that netted Patriots owner Robert Kraft.

Like Kraft, John Childs, 77, has denied the accusations.

Everything else seems to be business as usual, according to a release. The four managing partners who have invested $2.7 billion of capital in 35 portfolio companies while working together over the last two decades and will continue to lead the firm.

And the company now named for Prospect Hill Park on Totten Pond Road where the company is based, will manage two investment funds established by the company, which include majority interests in nine companies acquired since 2015.

"While our name is new, Prospect Hill Growth Partners will continue to operate under the leadership of David, Jeff, Bill and myself and our experienced team," said Managing Partner Adam Suttin in a press release. "We have deep expertise in consumer and healthcare investing and will continue to work with founders, entrepreneurs and management teams to accelerate growth and provide guidance in navigating the challenges of expansion strategies."

The Waltham-based private equity firm makes control equity investments between $25 million and $100 million in North American consumer and healthcare growth companies, according to the company.

RELATED:

Founder Of J.W. Childs Announces Retirement Amid Charges

John Childs Of J.W. Childs Charged In Florida Prostitution Sting