IMB Partners, a lower middle-market private equity firm, has named two new managing directors with the promotions of Farrah Holder and Derrick Weatherspoon.
“I would like to congratulate Farrah and Derrick on their contributions and well-earned promotions at our firm,” said IMB’s CEO and founder Tarrus Richardson. “Last year was a pivotal one for the growth of IMB’s team and partner companies. Our combined team remains highly energized and focused on serving our portfolio companies, investor and financing partners, and other stakeholders.”
Ms. Holder is active at IMB leading the firm’s transaction sourcing, marketing, and business development activities. She joined IMB in 2016 and has more than eighteen years of business development, marketing, and finance experience. Earlier in her career – from 2010 to 2019 – she co-founded ThinkNXT Marketing, a Washington DC-based boutique marketing firm focused on small to medium-sized businesses. Ms. Holder began her career as a financial analyst at Morgan Stanley. She has her undergraduate degree in finance and marketing from the University of Virginia and her MBA from The Wharton School at the University of Pennsylvania.
Mr. Weatherspoon is active at IMB leading the firm’s transaction execution process. He joined IMB in 2020 and has over ten years of private equity experience. Before joining IMB – from 2012 to 2019 – he was a vice president at The Carlyle Group in its consumer, media and retail group. Earlier in his career, he was with Welsh, Carson, Andersen & Stowe and Lehman Brothers. Mr. Weatherspoon has his undergraduate degree in finance from the University of Maryland and his MBA from Harvard Business School.
IMB Partners invests in lower middle companies that have from $5 million to $25 million in EBITDA and have EBITDA margins of at least 10%. Sectors of interest include providers of business services to electric and gas utilities, and/or government agencies.
In December 2020, the firm invested in Richmond Wholesale Meat Company, a California-based food manufacturer that provides over 10,000 SKU’s of frozen, chilled and dry food products to the US military. The company, with 55 employees, was founded in 1959 by the Doellstedt family and is today led by its second-generation owners in partnership with IMB. Earlier in 2020, IMB acquired Ashburn Consulting, a Northern Virginia-based information technology consulting firm that provides network engineering and cybersecurity services to federal, state and local governments, and commercial clients.
IMB Partners was founded in 2010 and is headquartered in Bethesda, Maryland.
© 2021 Private Equity Professional | February 17, 2021