Praesidian Capital has added a new partner to its investment team with the promotion of Tom Duffy.
At Praesidian, Mr. Duffy has been active sourcing new investments, conducting due diligence, structuring and executing transactions, and portfolio management.
“Tom has made significant contributions to Praesidian’s success since joining the firm in 2012,” said Jason Drattell, the founder and managing partner at Praesidian. “It has been a pleasure to see Tom progress in his career and we are excited to appoint him as a partner as we continue to build out Praesidian’s private equity business.”
Mr. Duffy joined Praesidian as an associate in August 2012 and was promoted to managing director in February 2019. Prior to joining Praesidian, he was with Bank of America Merrill Lynch and Morgan Stanley.
Praesidian was founded in 2002 and has been an active provider of senior and subordinated debt along with growth capital to lower middle-market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe.
Last month, Praesidian acquired a controlling interest in Round 2, a South Bend, Indiana-based hobby products company that designs and produces model kits, diecast models, and slot cars. Round 2 sells its products through major retailers including Walmart, Target, and Hobby Lobby and through its e-commerce platform at www.autoworldstore.com.
The buy of Round 2 is the second platform company acquired by Praesidian under its new strategy to make control investments in lower-middle market businesses that have enterprise values from $1 million to $100 million. Typical investments will have revenues of $3 million to $100 million and EBITDA of $250,000 to $20 million.
Praesidian Capital is headquartered in Larchmont, New York.
© 2021 Private Equity Professional | February 23, 2021