Throughout two decades of investing in private equity, our firm has created value by transforming companies. We form partnerships with seasoned management teams, and together we build bigger businesses through add-on acquisitions, organic growth, and operational improvements.
Buy and Build
Our portfolio companies operate in fragmented industries and serve as platform companies for consolidation. We will commit additional equity capital to make accretive add-on acquisitions.
Commitment to Middle Market
We have been investing in middle-market leveraged buyouts primarily in North America since 1993. Over that time, we have owned 33 portfolio companies, which have completed over 200 add-on acquisitions. Our typical initial equity investment is between $25 million and $100 million.
We target businesses in industries with consolidation potential, predictable growth, and strong cash flow. Our areas of expertise include: business services, distribution, healthcare services, government services and defense, and light manufacturing.
We work hard to identify and retain gifted and driven managers and entrepreneurs, and we take pride in being a good partner with our management teams. As a result, we regularly work with the same management teams on multiple transactions.
We are a hands-on investor and devote significant time and effort to helping each portfolio company succeed. We support management to make operational improvements and create operating efficiencies when necessary. We also invest in our companies' organic growth.
We seek opportunities that offer the potential for significant capital gains while minimizing the risk of losses. Since 1993, we have made 33 "platform" acquisitions and over 200 add-on acquisitions, representing approximately $8 billion in enterprise value.
AlliedPRA is the leading destination management company in the United States. AlliedPRA supports its clients' off-site business events such as corporate meetings, incentive travel programs and conferences by providing activity and transportation solutions and other destination support services. AlliedPRA provides a critical link between event planners and the local markets where business events take place. CI Capital acquired AlliedPRA in partnership with the management team.
Year Aquired: 2017
Add-on Aquistions: 1
Epiphany Dermatology is a rapidly expanding operator of dermatology clinics that is dedicated to high quality patient care. Epiphany Dermatology's focus is improving access to dermatology services, and the company currently operates seven general dermatology and skin cancer clinics in Central Texas. Given the high incidence of skin cancer, coupled with high cure rates, Epiphany Dermatology's clinics place special emphasis on skin cancer prevention, screenings and treatment. CI Capital acquired Epiphany Dermatology in partnership with the current management team.
Year Acquired: 2016
Add-on Acquisitions: 9
Galls is a leading distributor of uniforms, duty gear, and other accessories used by law enforcement, fire safety, emergency medical, private security, and corrections personnel. CI Capital acquired Galls from its parent company to refocus the company on profitable growth and consolidate a fragmented industry. Galls was acquired in partnership with the management team of Conney Safety Products, a previous CI Capital portfolio company.
Year Acquired: 2011
Add-on Acquisitions: 18
Hero Digital is a San Francisco-based digital marketing agency primarily focused on serving large, well-known U.S. companies. The company provides strategy, customer experience design and engineering services related to marketing software platforms, including Adobe, Sitecore, Acquia and Jive, which are used by Hero's customers to improve marketing and business performance. Hero is representative of CI Capital's long-standing focus on outsourced business and information technology services, which includes investments such as Glass's Information Services, A-T Solutions, Anteon International and Transplace. CI Capital acquired Hero Digital in partnership with the CEO and founder of Hero Digital and other members of the management team.
Year Acquired: 2016
Add-on Aquistions: 1
Impact Group is a Boise-based sales and marketing agency that provides outsourced sales, marketing and merchandising services to consumer packaged goods manufacturers. Consumer packaged goods manufacturers rely on sales and marketing agencies, such as Impact Group, for sales execution, relationships with retailers and on-the-ground presence at the retailers. Impact Group helps its clients establish sales budgets and promotional strategies, analyze sales data and trends and holds retailers accountable for their in-store treatment of products. CI Capital acquired Impact Group in partnership with the existing management team.
Year Acquired: 2016
Add-on Acquisitions: 4
Maroon Group is a distributor of specialty chemicals to a broad range of industries, including plastics, coatings, adhesives, composites, personal care, pharmaceutical and food. CI Capital acquired Maroon Group in partnership with the existing management team to consolidate the highly fragmented specialty chemicals distribution industry.
Year Acquired: 2014
Add-on Acquisitions: 7
Pivot Physical Therapy
Pivot Physical Therapy is a leading operator of physical therapy clinics in the Mid-Atlantic region of the United States. CI Capital acquired Pivot Physical Therapy in partnership with the existing management team and the management team of Prodigy Health Group, a previous CI Capital portfolio company, to serve as a platform company for consolidation of the highly fragmented physical therapy industry.
Year Acquired: 2013
Add-on Acquisitions: 31
Ply Gem Industries
Ply Gem is a leading manufacturer of residential exterior building products, offering a comprehensive product line of vinyl siding and skirting, vinyl windows and doors, and aluminum windows in all 50 states and western Canada. Ply Gem Industries was a subsidiary of a larger corporation when acquired. CI Capital acquired the company to serve as a platform company for consolidation of the fragmented building products industry.
Year Acquired: 2004
Add-on Acquisitions: 8
SavATree is a leading provider of tree, shrub and lawn care services. The company provides its services to residential, commercial, community and government properties. SavATree was founded in 1980. SavATree's services are sold in a consultative manner, by knowledgeable arborists who create custom programs for their customers' properties. SavATree provides its services to over 63,000 customers in 12 states.
Year Acquired: 2017
Add-on Aquisitions: 1
Simplified Logistics, LLC is a third-party logistics provider focused on providing less-than-truckload freight management services. Simplified Logistics helps customers lower transportation costs and improve business processes through its expertise, carrier relationships, scale and proprietary technology platform. CI Capital acquired Simplified Logistics in partnership with the management team and Mark Yeager, the former President and COO of Hub Group.
Year Acquired: 2017
Summit Companies is a leading fire and life safety service and installation company that is based in the upper Midwestern United States. Summit provides inspection, testing and monitoring, service and repair, installation, and consulting services for fire protection, life safety and security systems. The company's customers include local, regional and national customers in commercial, industrial, government, healthcare and multi-family residential facilities. CI Capital acquired Summit Companies in partnership with the management team.
Year Acquired: 2017
Tech Air is a leading distributor of industrial, specialty, and medical gases delivered in "packaged" or cylinder form and related welding equipment and supplies. CI Capital worked with management to acquire Tech Air to serve as a platform company for consolidation of the large and fragmented industrial gas distribution sector. Tech Air was acquired in partnership with existing management and the former CEO of Valley National Gases, a previous CI Capital portfolio company.
Year Acquired: 2010
Add-on Acquisitions: 22
Frederick J. IsemanChairman and Chief Executive Officer
Frederick J. Iseman is Chairman and Chief Executive Officer of CI Capital Partners, which he founded in 1993. Mr. Iseman has over 25 years of investing experience in private equity. He is the Lead Director of Ply Gem Industries. Mr. Iseman is also a director of AlliedPRA, Epiphany Dermatology, Galls, Hero Digital, Impact Group, IntraPac, Maroon Group, Pivot Physical Therapy, SavATree, Simplified Logistics, Summit Companies and Tech Air.
From 1988 to 1990, as a member of Hambro International Equity Partners, Mr. Iseman made or directed investments in environmental services, healthcare services, publishing, and banking. From 1990 to 1993, he ran Hambro-Iseman Capital Partners and was the controlling shareholder of public company Geowaste, Inc. Mr. Iseman is from Manhattan and holds a B.A. in English Literature from Yale University.
Timothy T. HallManaging Director
Timothy T. Hall is a Managing Director and joined CI Capital Partners in September 2001. Mr. Hall is Chairman of AlliedPRA, Epiphany Dermatology, Galls, Impact Group, IntraPac, Pivot Physical Therapy and Summit Companies. Mr. Hall is a director of Hero Digital, Ply Gem Holdings, SavATree, and Simplified Logistics. Previously, Mr. Hall was a Vice President at FrontLine Capital, where he was involved in
evaluating, structuring, and monitoring investments in the business services sector. Prior to FrontLine Capital, Mr. Hall was an Assistant Vice President at GE Equity where he was involved with growth capital investments in a variety of industries. Mr. Hall has a M.B.A. from Columbia Business School and a B.S. from Lehigh University.
Joost F. ThesselingManaging Director
Joost F. Thesseling is a Managing Director and joined CI Capital Partners in May 2000. Mr. Thesseling is Chairman of Hero Digital, Maroon Group, SavATree, Simplified and Tech Air. He is also a director of AlliedPRA, Epiphany Dermatology, IntraPac, Pivot Physical Therapy, Ply Gem Holdings and Summit Companies. Previously, Mr. Thesseling held positions at Engelhard Corporation
and PricewaterhouseCoopers in both Europe and the United States. Mr. Thesseling received an MSc. in Business Economics from the Erasmus University School of Economics in Rotterdam, the Netherlands.
Jordan S. BernsteinGeneral Counsel
Jordan S. Bernstein is the General Counsel of CI Capital Partners, which he joined in January 2007. Previously, Mr. Bernstein was the General Counsel and Chief Operating Officer of AGM Partners, a media/communications focused merchant banking firm. Prior to AGM Partners, Mr. Bernstein spent seven years at Wasserstein Perella & Co. and its successor, Dresdner Kleinwort Wasserstein,
as Associate General Counsel and later as Chief Operating Officer of its North American Corporate Finance & Advisory Division. Mr. Bernstein began his career at the law firm of Paul, Weiss, Rifkind, Wharton & Garrison where he specialized in Mergers & Acquisitions. Mr. Bernstein earned a B.A. in History from the University of Pennsylvania and a J.D. from Harvard Law School.
John ForbesChief Operating Officer
John Forbes is the Chief Operating Officer of CI Capital Partners, which he joined in 2014. Mr. Forbes is a director of AlliedPRA, SavATree, Epiphany Dermatology, Galls, Hero Digital, IntraPac, Impact Group, Maroon Group, Pivot Physical Therapy, Ply Gem Holdings, Tech Air, Simplified Logistics and Summit Companies. Previously, Mr. Forbes was the Chief Operating Officer and Chief Financial Officer of Caxton Associates. In this role, Mr. Forbes oversaw Treasury, Fund Accounting, Corporate Accounting, Tax, Legal,
Operations, IT, Human Resources and Investor Relations. Prior to joining Caxton Associates in 1989, Mr. Forbes held various roles at European American Bank, Fleet International Bank and Marine Midland Bank. Mr. Forbes has a M.B.A. from Babson College and a B.A. from Middlebury College.
Patrick FarrellChief Financial Officer
Patrick Farrell is the Chief Financial Officer of CI Capital, which he joined in July 2016. Previously, Mr. Farrell was the Vice President of Finance at Psilos Group, a New York-based venture capital firm, where he managed the accounting, financial reporting, tax preparation, investor relations and regulatory compliance for the firm. Prior to Psilos
Group, Mr. Farrell worked at JP Morgan Chase, most recently as an Assistant Vice President in the Private Equity Fund Services Group. Mr. Farrell is a Certified Public Accountant and holds a B.S. in Finance from the University of Scranton and an M.B.A. from the Wharton School of the University of Pennsylvania.
Amy MargolisHead of Business Development
Amy Margolis is the Head of Business Development and joined CI Capital Partners in 2017. Previously, Ms. Margolis was a Principal on the origination team at The Riverside Company, a global private equity firm. Prior to joining Riverside, Ms. Margolis spent 21
years at Prudential Securities, Inc., where she began as an investment banker and then became the Senior Vice President - Director of Equity Capital Markets. Ms. Margolis has a M.B.A. from Columbia Business School and a B.A. from Trinity College.
William M. SwaynePrincipal
William M. Swayne is a Principal and joined CI Capital Partners in June 2013. Mr. Swayne is a director of Maroon Group, Simplified Logistics and Summit Companies. Prior to joining the Firm, Mr. Swayne was a Vice President at MidOcean Partners, a New York-based private equity firm, where he focused on middle-market leveraged buyouts principally in the broad Industrials sector. Prior to MidOcean, Mr. Swayne worked as a Senior Associate for Sun Capital Partners where he focused on investing in distressed and underperforming businesses across a variety of industries.
Prior to Sun Capital, Mr. Swayne worked in the Restructuring Group of Lazard Ltd., where he advised client companies in various restructuring transactions and recapitalization alternatives. Mr. Swayne has a B.S. in Business Administration with a concentration in Finance from Georgetown University.
Zubin Malkani is a Principal and joined CI Capital Partners in July 2012. Mr. Malkani is a director of SavATree. Previously, Mr. Malkani was an associate at GTCR, where he focused on middle-market leveraged buyouts. Prior to GTCR, Mr. Malkani was an investment
banking analyst at Goldman, Sachs & Co., where he advised clients on mergers, acquisitions, and corporate finance transactions. Mr. Malkani has a B.B.A. from the University of Michigan and a M.B.A. from Harvard Business School.
Andrew J. PardoPrincipal
Andrew J. Pardo is a Principal and joined CI Capital Partners in September 2010. Mr. Pardo is a director of Epiphany Dermatology, Hero Digital, IntraPac and Tech Air. Prior to joining the firm, Mr. Pardo was in the Principal Investment Area at Goldman, Sachs, where he evaluated, structured, and executed debt and equity investments across a broad range of industries. Mr. Pardo previously spent time in
Goldman, Sachs' Leveraged Finance Group, where he focused on evaluating and executing bank and high yield financings for leveraged buyouts and mergers and acquisitions. Mr. Pardo has a B.S. in Business Administration with dual concentrations in Finance and Accounting from Georgetown University.
Evan P. AzusVice President
Evan Azus is a Vice President and joined CI Capital Partners in January 2014. Mr. Azus is a director of AlliedPRA, Pivot Physical Therapy and Impact Group. Previously, Mr. Azus was an associate at Greenbriar Equity Group, where he focused on middle-market leveraged buyouts in the transportation and transportation-related sectors. Prior to Greenbriar Equity Group, Mr. Azus was an investment banking analyst at UBS
in the Financial Sponsors & Leveraged Finance Group, where he focused on evaluating and executing bank and high yield financings for leveraged buyouts. Mr. Azus has a B.B.A. from the Ross School of Business at the University of Michigan with concentrations in Finance and Accounting.
Ke DingSenior Associate
Ke Ding is a Senior Associate and joined CI Capital Partners in October 2016. Previously, Mr. Ding was an associate at Flexpoint Partners, where he focused on identifying, evaluating, and executing investments in the healthcare sector. Prior to joining Flexpoint,
Mr. Ding was an investment banking analyst at Lazard, where he focused on advising clients in M&A transactions. Mr. Ding has an A.B. in Economics with a minor in Hispanic Studies from Dartmouth College.
Rohit GunturSenior Associate
Rohit Guntur is a Senior Associate and joined CI Capital Partners in October 2017. Previously, Mr. Guntur was an associate at Court Square Capital Partners, where he focused on middle-market leveraged buyouts in the industrials sector. Prior to joining Court Square,
Mr. Guntur was an investment banking analyst at Morgan Stanley in the Natural Resources Group, where he focused on evaluating and executing various M&A and capital markets transactions. Mr. Guntur has a B.A. in Honors Business Administration from the Richard Ivey School of Business and a B.ESc. in Chemical Engineering from the University of Western Ontario.
Matthew R. LabovitzSenior Associate
Matthew R. Labovitz is a Senior Associate and joined CI Capital Partners in August 2015. Previously, Mr. Labovitz was an associate at Morgan Stanley Global Private Equity, where he focused on middle market leveraged buyouts across a broad range of industries. Prior to joining Morgan Stanley, Mr. Labovitz
was an investment banking analyst at Bank of America Merrill Lynch, where he focused on evaluating and executing various M&A and capital markets transactions for financial services companies. Mr. Labovitz has a Bachelor of Arts in History from the University of Pennsylvania.
David M. SteinSenior Associate
David M. Stein is a Senior Associate and joined CI Capital Partners in February 2015. Previously, Mr. Stein was an associate at Veritas Capital, where he focused on middle-market leveraged buyouts in the aerospace, defense and government services markets. Prior to Veritas Capital, Mr. Stein was an investment banking analyst at Bank of America
Merrill Lynch in the Financial Institutions Group, where he focused on evaluating and executing various M&A and capital markets transactions for financial services companies. Mr. Stein has a B.S in Economics with a concentration in Finance from the Wharton School at the University of Pennsylvania.
William H. VandenBergSenior Associate
William H. VandenBerg is a Senior Associate and joined CI Capital Partners in April 2017. Previously, Mr. VandenBerg was a Senior Associate at Sentinel Capital Partners, where he focused on middle market leveraged buyouts across a broad range of industries.
Prior to joining Sentinel, Mr. VandenBerg was an investment banking associate at Robert W. Baird & Co., where he focused on evaluating and executing various M&A and capital markets transactions. Mr. VandenBerg has a Bachelor of Arts in Economics from Kenyon College.
Nathaniel Gery is an Associate and joined CI Capital Partners in December 2016. Previously, Mr. Gery was an Associate at Teneo Capital where he focused on advising clients on M&A
and private capital raises across various industries. Mr. Gery received a B.A. in International Relations with a concentration in Business Management from Columbia University.
Chase Keesling is an Associate and joined CI Capital Partners in August 2017. Previously, Mr. Keesling was an investment banking analyst at RBC Capital Markets where he focused on evaluating and executing various M&A and capital markets transactions.
Mr. Keesling has a BSE in Mechanical Engineering from the Pratt School of Engineering at Duke University.
Nicolaas Meiring is an Associate and joined CI Capital Partners in November 2017. Previously, Mr. Meiring was an Analyst in Bank of America Merrill Lynch's Leveraged Finance group,
where he focused on evaluating and executing M&A, leveraged buyout and other debt financing transactions across a broad range of industries. Mr. Meiring has a B.S. in Economics from Duke University.
Emily A. St. ThomasHead of Investor Relations and Marketing
Emily A. St. Thomas is the Head of Investor Relations and Marketing at CI Capital Partners, which she joined in February of 2012. Previously, Ms. St. Thomas was the Director of Marketing at Endeavour Capital. Prior to joining Endeavour, Ms. St. Thomas was a recruiter at The IDW Group. Ms. St.
Thomas started her career at Wells Fargo Bank in interest rate derivatives marketing. Ms. St. Thomas has a B.A. in Political Science from Stanford University.
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