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Billionaire John Childs, charged with soliciting prostitution, resigns from equity firm

Posted: 11:16 AM, Feb 26, 2019
Updated: 2019-02-26 16:34:20Z
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John Childs, a billionaire equity firm owner and one of dozens accused of soliciting prostitution as part of a human trafficking investigation in Indian River County, resigned from the Boston-based firm he founded.

J.W. Childs Associates announced Childs' "retirement" Monday in a press release.

The firm said he currently was not active in managing the firm before he retired.

J.W. Childs Associates provided the following news release:

Boston, Feb. 25, 2019 – J.W. Childs Associates, L.P. (JWC), a private equity firm focused on providing operational expertise to middle-market growth companies, today announced the retirement of its cofounder, John Childs.

Mr. Childs, who is not currently active in the management of the firm, has stepped down as chairman of J.W. Childs Associates and as a director of the board at KeyImpact, a Fund IV portfolio company. As it has been over the past decade, the firm will continue to be led by Adam Suttin, managing partner, and David Fiorentino, Jeff Teschke and Bill Watts, partners.

“John built an enduring and strong business and we appreciate his many contributions to JWC,” said Suttin. “I look forward with confidence to the next chapter for our firm and wish John well.”

Mr. Childs, 77, has had a successful investment career spanning the past five decades. He established J.W. Childs Associates in 1995 and led the organization in its first three funds and many profitable investments, such as Beltone Electronics, Universal Hospital Services and Meow Mix. Before founding JWC, Mr. Childs was a senior managing director at THL where he led the investment in Snapple Beverage, one of the most successful leveraged buyouts in the industry. Before THL, Mr. Childs was a senior managing director for the Capital Markets Group at the Prudential Insurance Company of America.

Read the full story from our news partners at TCPalm.com .

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