Arbor Investments has named Tom Halverson as a new operating partner of the firm.
Since March 2019, Mr. Halverson has served as the chief financial officer for Inari Agriculture, a Massachusetts-based biotechnology company active with plant breeding technology. Beginning in 1996, Mr. Halverson was with middle-market investment bank Piper Sandler, most recently as the head of the firm’s agriculture, clean technology, and renewables group.
“I’ve known Tom for over two decades and am confident his industry expertise, unique perspectives and experiences working with founder/family-owned companies during ownership transitions, as well as his extensive range of relationships will be invaluable to Arbor and our portfolio companies,” said Greg Purcell, Arbor’s co-founder and CEO. “As we continue to grow, it is critical we add A-team players like Tom to the Arbor roster.”
Mr. Halverson will be actively supporting new platforms of Arbor and he will specifically advise The Bakery Companies, a Tennessee-based manufacturer of breads, baked goods and dough products for foodservice, food manufacturing and retail customers that was acquired in October 2019; and Keyes Packaging Group, a Washington-based provider of protective food and beverage packaging including apple and avocado trays, wine and egg shippers and pear wrap, that was acquired in July 2013.
“I’ve had the pleasure of working with Greg and the Arbor team over the years and have always been impressed with their deep operational expertise and resource-intensive approach,” said Mr. Halverson. “It is clear this approach is a key component in achieving top-quartile returns. I’m honored to join such a talented team and excited to help drive value at our portfolio companies.”
“At Arbor, we differentiate ourselves with the high caliber of resources we deploy to our portfolio companies and our operating partners are critical to that strategy,” said Tim Fallon, a senior operating partner at Arbor. “Tom embodies the traits we look for in an operating partner and his involvement with so many middle-market companies over the years is highly advantageous. His unique blend of transactional and operational expertise will be invaluable, as ongoing M&A is a critical value driver across all our portfolio companies. We’re delighted to welcome Tom to the team and look forward to the impact he’ll have at Arbor.”
Arbor invests in the food, beverage, and related industries. Typical targets will have annual revenues of up to $300 million and EBITDA from $5 million to $50 million. Since founding in 1999, the firm has acquired or invested in over 80 North America-based food, beverage, and related companies.
In July 2016, Arbor closed its fourth equity fund, Arbor Investments IV LP, with $765 million of capital and its first subordinated debt fund, Arbor Debt Opportunities Fund I LP, with $125 million of capital. Arbor is headquartered in Chicago with an additional office in New York.
Private Equity Professional | September 3, 2020