Mr. Novak will be based at the company’s headquarters in Minnetonka, MN and will be active in growing Cherry Tree’s sell-side advisory practice in manufacturing, distribution, food, and agribusiness, as well as expand its existing coverage of private equity.
“I couldn’t be happier to be back in the Twin Cities and surrounded by such an impressive group of colleagues as those at Cherry Tree,” said Mr. Novak. “Our growth prospects are tremendous and I am happy to be a key contributor to implementing Cherry Tree’s bright future.”
Until last August, Mr. Novak was the senior vice president in charge of private equity investing for IronRock Capital Partners, a private equity fund based in St. Louis. Prior to joining IronRock, he was a vice president and partner with Capital For Business (St. Louis) and a vice president with Goldsmith Agio Helms/Lazard Middle Market (Minneapolis).
“We are really pleased that Paul has joined us. He brings a tremendous skill set in that he has been both a seller and buyer of middle-market companies. In his career he consummated over $10 billion of transactions and has had board of director’s responsibilities for 10 companies. Additionally, Paul has deep family roots and relationships in Minnesota, so we expect to work with him for many years to come,” said Gordon Stofer, President and Managing Partner of Cherry Tree & Associates.
Cherry Tree & Associates is Minnesota’s eighth-largest broker-dealer investment bank providing strategic and M&A advisory services to middle-market firms. Its private placement team works with management teams and boards of directors to attract growth and expansion capital. It also provides fairness opinions and other valuation services. Cherry Tree is headquartered near Minneapolis in Minnetonka, MN (www.cherrytree.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-29-14