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Synthetics Maker WD Gets Cash Injection
Jan 8, 2019 4:28 AM
By Rapaport News
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RAPAPORT... Private-equity firm Huron Capital has made a “significant”
investment in WD Lab Grown Diamonds, forecasting sharp growth for the company
and the synthetics sector.
The injection of funds will help WD expand its capacity to
produce lab-grown diamonds for jewelry and industrial purposes, the
manufacturer said Monday. Clive Hill, the company’s founder, will remain its
CEO, while Yarden Tsach will continue as chief technology officer, with both
retaining a substantial share in the business.
“WD’s exclusive technology and manufacturing capabilities
place the company at the forefront of one of the fastest-growing segments of
the diamond industry,” said Huron senior partner Michael Beauregard.
WD, founded in 2008 and based in Laurel, Maryland, synthesizes
diamonds using chemical vapor deposition (CVD). Last year, it produced a
9.04-carat, VS2-clarity polished diamond that, it claimed, was the world’s largest
known gem-quality CVD diamond. It also supplies the stones for Richline Group’s
Grown with Love collection, a line of synthetic-diamond jewelry sold at
JCPenney and Macy’s.
“The Huron Capital investment is expected to help us
significantly expand our capacity in the fast-growing, high-quality segments of
both the gem and industrial markets, and build our base of trade partnerships,”
Hill said.
Huron’s expertise will also help WD manage its “explosive
growth,” Tsach added.
Image: A 9.04-carat synthetic diamond WD Lab Grown Diamonds produced last year. (WD Lab Grown Diamonds)
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Tags:
Clive Hill, equity, Huron, Huron Capital, jcpenney, Macy’s, private, Rapaport News, richline group, Synthetics, WD, WD Lab Grown Diamonds, Yarden Tsach
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