Chicago-headquartered Pritzker Private Capital has formed the Pritzker Advisory Board and recruited eight executive leaders as its first members.

Pritzker Private Capital (PPC) acquires North America-based middle-market companies that have enterprise values between $100 million and $750 million and EBITDA in excess of $15 million. Sectors of interest include manufactured products, services, and healthcare. In July 2018, PPC held a final closing of PPC Fund II LP at its hard cap of $1.8 billion. The firm is led by Tony Pritzker and the former investment and operating professionals of Pritzker Group Private Capital.

“The Pritzker Advisory Board brings additional world-class strategic and operational experience to PPC, strengthening our existing capabilities and further differentiating us in the marketplace,” said Mr. Pritzker. “These board members will combine their unique expertise, highly complementary skills and valuable external perspectives to inform PPC’s strategy as it continues to invest long-term capital and uphold its core values of honesty, integrity and loyalty in partnership with our companies. I look forward to working with this talented group of industry executives.”

Mr. Pritzker will chair the new advisory board and Matt Cook, the former chief executive officer of LBP Manufacturing, will serve as its vice-chairman. LBP is a Chicago-based maker of food and beverage packaging products and was acquired by Pritzker Group in July 2015.

“The Pritzker Advisory Board is a powerful opportunity for PPC to further demonstrate how the firm supports its family of companies,” said Mr. Cook. “This incredible group of leaders, with a broad array of professional backgrounds, will be an invaluable source of counsel for management teams and high-quality middle-market businesses. As a former CEO, I can attest to how worthwhile it will be for Pritzker Private Capital’s companies to have access to this group of proven business leaders.”

In addition to Mr. Pritzker and Mr. Cook, the other six members of the new advisory board include:

• Ruby Chandy, the former president of the industrial division of Pall Corporation, a New York-based supplier of filtration, separations, and purification products. Pall was acquired by Danaher Corporation (NYSE: DHR) in May 2015 for $13.8 billion.
• Phillip Holloman, former president and chief operating officer of Cintas Corporation (NASDAQ: CTAS), a Cincinnati-based manufacturer of corporate identity uniform programs, entrance mats, restroom supplies, and promotional products. Mr. Holloman retired from Cintas in July 2018.
• Alan Muney, the former chief medical officer of Cigna Corporation (NYSE: CI), a Connecticut-based provider of medical, dental, disability, life, and accident insurance.
• Stephen Newlin, the former chairman and chief executive officer of Univar Solutions (NYSE: UNVR), a Chicago-based distributor of industrial and specialty chemical products, and PolyOne (NYSE: POL), a Cleveland-based provider of specialty polymers, specialty vinyl resins, and color and additive systems.
• Doug Ray Oberhelman, the former chairman and chief executive officer of Caterpillar (NYSE: CAT), a Chicago-based manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Mr. Oberhelman retired from Caterpillar in March 2016.
• David Steiner, former president and chief executive officer of Waste Management (NYSE: WM), a Houston-based provider of waste disposal and environmental services.

“The Pritzker Advisory Board will be significantly different than more traditional board roles,” said Ms. Chandy. “This is a unique opportunity to not only assess and advise on the strategic direction of the firm, but also to tell the remarkable story of the Pritzker legacy, partner with management teams on growth opportunities, and uncover companies that fit with the PPC philosophy. The opportunity in this role is so compelling – I immediately felt a strong connection to what this group is trying to accomplish.”

Pritzker Private Capital has offices in Chicago and Los Angeles.

Private Equity Professional | May 20, 2020