Synthetics Maker WD Gets Cash Injection

RAPAPORT... Private-equity firm Huron Capital has made a "significant"investment in WD Lab Grown Diamonds, forecasting sharp growth for the companyand the synthetics sector. The injection of funds will help WD expand its capacity toproduce lab-grown diamonds for jewelry and industrial purposes, themanufacturer said Monday. Clive Hill, the company's founder, will remain itsCEO, while Yarden Tsach will continue as chief technology officer, with bothretaining a substantial share in the business. "WD's exclusive technology and manufacturing capabilitiesplace the company at the forefront of one of the fastest-growing segments ofthe diamond industry," said Huron senior partner Michael Beauregard. WD, founded in 2008 and based in Laurel, Maryland, synthesizesdiamonds using chemical vapor deposition (CVD). Last year, it produced a9.04-carat, VS2-clarity polished diamond that, it claimed, was the world's largestknown gem-quality CVD diamond. It also supplies the stones for Richline Group'sGrown with Love collection, a line of synthetic-diamond jewelry sold atJCPenney and Macy's. "The Huron Capital investment is expected to help ussignificantly expand our capacity in the fast-growing, high-quality segments ofboth the gem and industrial markets, and build our base of trade partnerships,"Hill said. Huron's expertise will also help WD manage its "explosivegrowth," Tsach added.Image: A 9.04-carat synthetic diamond WD Lab Grown Diamonds produced last year. (WD Lab Grown Diamonds)