Turnspire Capital Partners has hired Simon Jones as an Operating Partner to lead and expand the firm’s Executive Operator Network.
Mr. Jones is currently the Executive Chairman of One Discovery, a Falls Church, VA-based provider of eDiscovery and data management services. Earlier he was the Chairman and CEO of 3SI Security Systems, a provider of security services to the financial, retail and law enforcement markets, which was acquired by LLR Partners in June 2017. His background includes experience across multiple industrial sectors including GPS tracking systems and security, automotive and aerospace sub-systems and components, air filtration, hydraulic systems for off and on-highway vehicles, composite materials products, software development, and paint and surface coating products.
“I am very pleased to join Turnspire and to play such an integral role in the execution of its investment strategy,” said Mr. Jones. “Turnspire deals are always operationally intensive and we are looking for talented and experienced executives who share our vision and ‘roll up our sleeves’ approach. There will be plentiful opportunities for these executives to participate in all stages of the investment lifecycle, and to share in the economic benefits of the value we create together.”
Members of Turnspire’s Executive Operator Network are used as portfolio company CEOs and in other key management roles; as consultants in both pre and post investment situations; as active board members and mentors; and to share and exchange industry insights, best practices, relevant contacts, and new investment opportunities.
“The network of executives that we are continuing to build is a key part of our ‘special situations solutions’ capability,” said Turnspire Managing Partner Ilya Koffman. “Simon has the ideal experience to lead this initiative. We are excited to work with Simon and with other talented executives to execute challenging and complex transactions that present compelling investment opportunities.”
Turnspire invests in companies with revenues between $50 million and $400 million and valuations up to $125 million. The firm prefers companies that are underperformers and/or in need of an operational turnaround. Sectors of interest include aerospace and defense; automotive; capital equipment; chemicals; consumer; construction and building materials; food and beverage; industrial equipment; logistics; metals and metal fabrication; paper and packaging; and plastics and synthetic materials. Turnspire is based in New York (www.turnspirecap.com).
© 2018 Private Equity Professional | April 26, 2018