Archives for September 12, 2013

Craig Rydin, the former CEO of Yankee Candle, has joined consumer and retail focused private equity firm LNK Partners.  Yankee Candle was recently sold by Madison Dearborn Partners to Jarden Corporation, a provider of consumer products with a portfolio of over 100 brands.

Mr. Rydin’s experience includes 12 years as Chairman and CEO of Yankee Candle where he and his team executed a strategy that increased the company’s market capitalization by over $1 billion, more than doubled wholesale points of distribution to over 20,000 doors, and opened over 300 new retail stores.  Previously he spent 23 years at Campbell Soup Company, including as President of Godiva Chocolatier Worldwide, where he delivered sales growth of 19% CAGR and EBIT growth of 31% CAGR.

Mr. Rydin will be working with and providing perspective to existing LNK portfolio companies, as well as helping to evaluate and pursue new investment opportunities for the firm.  LNK’s current portfolio includes investments in Au Bon Pain, Natural Food Holdings (Niman Ranch), and Beachbody.  Prior investments have included the support of PVH’s acquisition of Tommy Hilfiger, and Ariat.

Mr. Rydin is currently on the Board of Directors of Au Bon Pain, PVH, and Priceline.com. He received a Bachelor of Arts from University of New Hampshire and earned an MBA from Sacred Heart University.

LNK Partners invests up to $150 million of equity per transaction in consumer and retail businesses. The firm is flexible in the type and structure of its investments and is comfortable being a minority or majority shareholder. The firm is based in White Plains, NY (www.lnkpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-12-13

Kristian Whalen has joined lower middle-market private equity firm Platte River Equity as a Managing Director.  Mr. Whalen comes to Platte River following the raising of its third fund, which closed in December 2012 at its hard cap of $405 million.

Mr. Whalen brings 15 years of experience as a private equity investor in numerous industrial and service-based operating companies.  He will focus on investments in Platte River’s target industrial sectors.

Prior to joining Platte River, Mr. Whalen was a Managing Director and Co-Head of Diversified Industries in the New York office of Vestar Capital Partners.  At Vestar, Mr. Whalen pursued management buyout transactions across a spectrum of industrial and service sectors.  His responsibilities included sourcing new investment opportunities, developing new business relationships, structuring transactions, leading diligence and capital markets financings, as well as significant involvement in the operations of Vestar portfolio companies.

Previously, Mr. Whalen was an analyst with the Mergers & Acquisitions group at Paine Webber.  Originally from Toronto, Canada, Mr. Whalen holds an MBA from Harvard Business School and a BA from Brown University.

Platte River Equity makes equity investments of $10 million to $50 million in lower middle market companies with enterprise values generally between $20 million and $250 million.  The firm focuses on investing in the aerospace and transportation; energy and industrial services; and chemicals, metals and industrial minerals sectors. Platte River Equity manages funds with committed capital of approximately $700 million and is based in Denver (www.platteriverequity.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-12-13

Monroe Capital has added Patrick White and Mark Solovy to its team as Managing Directors in order to lead the firm’s national technology practice. Mr. White will be based in Monroe Capital’s newly established San Francisco office.

“We are very excited to add Patrick and Mark to the Monroe Capital team,” said Ted Koenig, President & CEO of Monroe Capital. “The expansion of our technology sector is consistent with Monroe’s plans to broaden our services within the middle market. Patrick and Mark will be responsible for leading our national technology lending efforts in private equity and venture capital-sponsored and non-sponsored transactions. Both have extensive experience financing middle market companies in the technology sector.”

Prior to joining Monroe, Mr. Solovy was a Managing Director at Hercules Technology Growth Capital in the firm’s Palo Alto and Chicago offices. He has over 15 years of private equity, venture capital, and investment banking experience in the technology industry. He earned his JD from the University of Pennsylvania Law School and his BS in Business Administration from the Olin Business School at Washington University in St. Louis.

Prior to joining Monroe, Mr. White was a Principal at H.I.G. WhiteHorse where he was responsible for its direct lending activities in the western United States. He has over 15 years of experience in technology finance, middle market finance and investment banking.  His prior experience includes roles in principal finance and investment banking at American Capital, Wells Fargo Foothill and Houlihan Lokey. Mr. White earned his BA in Economics from Washington and Lee University.

Monroe Capital is a specialty finance company providing senior and junior debt and equity co-investments to middle-market companies. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is headquartered in Chicago with an office in San Francisco (www.monroecap.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-12-13