Harvest Partners SCF, the structured capital group of Harvest Partners, has added three new members to its investment team with the hirings of Steve Duke, Caldwell Zimmerman, and April Blackmon Meyer.
Harvest Partners SCF (HP SCF) targets private equity-like returns while assuming risks more characteristic of debt investments. The group targets investments of $20 million to $75 million in companies where the business owners need equity capital but do not wish to dilute or sell their ownership. Target companies will have revenues of $100 million to $750 million and be active in the following sectors: business and consumer services; healthcare services; industrial and energy services; manufacturing; and distribution. HP SCF, founded in 2014, is led by senior managing director Joseph (Jay) Hegenbart and is headquartered in New York (www.hp-scf.com).
“I am thrilled to announce the addition of these talented professionals to the Harvest Partners SCF team. Steve, Caldwell and April are all proven leaders and bring to their respective roles a wealth of knowledge and experience,” said Mr. Hegenbart. “I am confident that we will be able to leverage their expertise and capabilities to continue to achieve strong investment returns.”
Mr. Duke joined HP SCF as a Principal in 2014. He is responsible for sourcing, structuring, executing, and managing portfolio investments. Before joining HP SCF he was a Principal at CCMP Capital Partners where he completed private equity transactions in the healthcare, consumer/retail and energy industries. He has a BA in Economics from Yale and an MBA from Harvard.
Mr. Zimmerman joined HP SCF as an Associate in February 2015. He is responsible for executing, structuring, and monitoring portfolio investments. He was most recently an Associate at Arsenal Capital Partners where he completed private equity transactions in the healthcare and industrials sectors. Previously, he was an Analyst in the investment banking division of Bank of America Merrill Lynch. Mr. Zimmerman has a BS in Business Administration from the University of North Carolina.
Ms. Meyer joined HP SCF as a Marketing Associate In March 2015. She leads the marketing initiatives for HP SCF and was most recently at JAT Capital Management and Viking Global Investors. Ms. Meyer has a BBA in Marketing and Corporate Communications from Baylor University.
To date, HP SCF has completed four investments totaling approximately $100 million in capital. The four portfolio companies are: Arctic Glacier, a producer, marketer and distributor of packaged ice based in Montclair, NJ (www.arcticglacier.com) (March 2014); Athletico Physical Therapy, a provider of physical therapy services based in Chicago (www.athletico.com) (December 2014); AxelaCare Holdings, a provider of home infusion services for chronic and acute conditions based in Lenexa, KS (www.axelacare.com) (January 2015); and Packers Holdings, a provider of cleaning and sanitation services to the food processing industry based in Kieler, WI (www.pssi.co) (December 2014).
Harvest Partners currently manages approximately $2 billion of equity and structured capital and is investing its sixth private equity fund. Harvest targets investments in companies with $20 million to $75 million of EBITDA and total enterprise values of $100 million to $750 million. Sectors of interest include industrial & energy services; manufacturing & distribution; consumer & business services; and healthcare services. The firm was founded in 1981 and is based in New York and, with the opening of the new office, in Palo Alto as well (www.harvestpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-27-15