Wynnchurch Capital has added Dr. Tom Malone to its Executive Advisory Board. Dr. Malone joins Wynnchurch after leading Milliken & Company, one of the largest, privately owned textile manufacturers in the United States.
Dr. Malone, who has a doctorate in chemical engineering, began his 40-year stint with Milliken by starting its Fundamental Engineering Department. Seventeen years later, in 1983, he was named president and chief operating officer, and in 2002, he was promoted to executive vice chairman. He retired in 2005. Under Dr. Malone’s leadership, Milliken received the Malcolm Baldrige National Quality Award in 1989.
“Milliken is widely known as one of America’s best-managed companies, largely driven by Tom, who was at the forefront of developing quality improvement processes in manufacturing,” said John Hatherly, founding partner of Wynnchurch. “Tom’s personal leadership style and hands-on commitment in pursuing excellence throughout all levels of an organization align with the core values and culture of Wynnchurch. We look forward to his input and expertise to help us drive continuous improvement of our value creation capabilities.”
The Executive Advisory Board of Wynnchurch now has three members. In addition to Dr. Malone, other members of the Executive Advisory Board include Joe Anderson, Former Chairman, CEO of TAG Holdings; and Jim Goodwin, former Chairman and CEO of UAL Corporation.
“The Executive Advisory Board assists Wynnchurch and our portfolio companies in better understanding targeted industries and markets, and developing applicable growth strategies,” said Mr. Hatherly. “Additionally, some of the executives on the Executive Advisory Board will serve on boards of directors of certain portfolio companies, bringing thought leadership, independent perspectives and support for our CEOs.”
Wynnchurch Capital makes investments of $10 million to $90 million in middle-market companies that have revenues of $5 million to $500 million. Sectors of interest include niche manufacturing, transportation & logistics, business services, value-added distribution, energy and power services, general industrials, and metals & mining. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Detroit and Toronto (www.wynnchurch.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-17-13