NEW YORK, Oct. 22, 2018 -- Tress Capital LLC, a strategic leader in cannabis private equity, is pleased to announce the acquisition by an affiliate, of Turning Points Global LLC (TPG), a cannabis advisory firm based in California and New York. The acquisition closed effective Oct. 10, 2018. Terms of the transaction were not disclosed. Tress Capital is known for leading portfolio brands including SC Labs, Cannabis Now, Headset, Baker Technologies (TILT), North Bud Farms, Infusion Biosciences and more.
“The acquisition of TPG adds institutional venture capital and cannabis operating experience to our core team.” said Tress Capital CEO Asher Troppe. “Our sector is rapidly evolving and becoming an increasingly competitive global marketplace. Jonathan and Steve directly add value to all our key stakeholders as members of the Tress team and are available to support development and execution of portfolio company strategic growth, operating, and capital markets initiatives. Adding TPG’s experienced talent, which includes background at Citigroup Venture Capital International, is vital to the success of these companies operating in the volatile cannabis markets.”
Turning Points Global Co-Founders Steve Peterson and Jonathan Eisenberg stated “we are excited to be joining the Tress team in evaluating investment opportunities and in providing strategic operations and business development support to a range of cannabis companies. The cannabis market is expected to quickly consolidate and access to capital and proper mentorship will be critical in supporting companies through these highly dynamic global regulatory and business environments.”
Turning Points Global is presently consulting Lineage Grow (CSE:BUDD) on acquisitions and retail management, has consulted for I-5 Holdings Ltd. on acquisitions prior to being acquired by Captor Capital Corp. (CSE:CPTR), has consulted for a leading Israeli cannabis pharma company and has worked with a variety of cannabis manufacturers, cultivators and service providers. Steve Peterson was previously the General Manager for Elemental Wellness, a leading dispensary in California, a Venture Partner of Cukierman investments in Israel and will join Tress as a Partner of Tress Solutions. Jonathan Eisenberg was previously a Managing Director of Citigroup Venture Capital International (Asia), a Partner of Cukierman Investments in Israel and will join Tress as a Partner of Tress Capital.
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