Snow Phipps Group has added Don Sturdivant as its newest Operating Partner. Mr. Sturdivant has more than 30 years of experience in the packaging industry and has served as the CEO of several companies owned by private equity firms. He will primarily focus on investment opportunities in the packaging industry.
Snow Phipps utilizes an operating partner model to invest across the industrials, services and consumer industries and creates value in portfolio companies through an operationally focused strategy. Operating partners are actively involved in transaction sourcing, due diligence, and portfolio management.
“I look forward to working closely with Snow Phipps Group as they seek to capitalize on positive trends and consolidation in the packaging industry,” said Mr. Sturdivant. “I chose to work with Snow Phipps because of their proven operating partner approach and dedicated focus on industries with positive investment trends. I’ve spent the vast majority of my career in the packaging industry and I’m confident that our partnership will be highly successful.”
From April 2015 to April 2016, Mr. Sturdivant was the Chief Executive Officer of FleetPride, the largest distributor of truck and trailer parts in the independent heavy-duty aftermarket channel. FleetPride is currently a portfolio company of TPG. Previously, from 2009 to 2015, he was the Chief Executive Officer of Marietta, a supplier of hotel amenities to major hotel chains and a contract manufacturer supplying consumer packaged goods companies in both the personal and household care markets. Marietta was acquired by KIK Custom Products – a portfolio company of Centerbridge Partners – in February 2015.
Prior to Marietta, Mr. Sturdivant was the Chief Operating Officer of Altivity Packaging from August 2006 to June 2008. Altivity Packaging was formed in August 2006 through the merger of Smurfit Stone Container’s Consumer Packaging Division and Field Container. Earlier in his career, he held leadership roles at a variety of packaging companies including Graphic Packaging and Fort James. Mr. Sturdivant served as an officer in the United States Army and earned his MBA from the Florida Institute of Technology and his undergraduate degree from the University of Maine.
“Packaging is a highly attractive industry for middle market private equity investment. We believe that Don is an excellent addition to our industrial practice and that his significant operating expertise and proven ability to create value will lead to a successful partnership for Snow Phipps,” said Ian Snow, CEO and Partner of Snow Phipps Group.
Snow Phipps makes control investments in companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging from $40 million to $100 million. The firm has $1.5 billion of assets under management and was co-founded by Ian Snow and Ogden Phipps in April 2005. Snow Phipps is headquartered in New York (www.snowphipps.com).
© 2016 Private Equity Professional • 9-23-16
