Rippowam Partners has hired that Stu Strumwasser as Managing Director – Business Development. Mr. Strumwasser will lead Rippowam’s efforts to source new investment and acquisition opportunities and he is also tasked with building the firm’s base of high net worth and family office investors.
Rippowam Partners was launched earlier this year by Peter Weinbach and Graham Anderson to pursue investments in the healthy living and wellness sectors. “We hired Stu to conduct a buy-side exploration for us and were instantly taken by his work ethic, energy, insights, and understanding of the market both as an investor and as a former operator,” said Mr. Weinbach.
“Stu has an impressive track record of networking and building relationships with both companies and investors, and he has also founded and operated businesses of his own. He is an interesting guy, a published novelist, and he’s extremely passionate about investing in sectors which provide an opportunity to do good in the world in addition to creating financial value for shareholders,” said Mr. Anderson.
Before joining Rippowam, Mr. Strumwasser was the founder and Principal of Green Circle Capital Partners, a boutique investment bank focused on the healthy living and wellness space. He was also the founder and CEO of Snow Beverages, a natural soda manufacturer, and a co-founder of Tengrade, an internet-based products and services rating web site. Earlier in his career he spent fifteen years in wealth management at Paine Webber and Oppenheimer & Co. He is a graduate of Cornell University.
“Working alongside Peter and Graham will provide me with a unique opportunity for professional growth that I couldn’t refuse,” said Mr. Strumwasser. “These are extremely experienced private equity professionals with track records of excellence in creating returns for investors. It’s an opportunity for me to apply my skills to larger transactions, and have greater impact and influence on companies we will seek to acquire and grow. There is a shared view among the three of us regarding our vision for the firm we desire to build, and I am looking forward to playing a role in growing the firm’s reach, as well as creating significant value in our portfolio companies for investors.”
Rippowam targets companies that have annual revenues between $10 million and $100 million and EBITDAs from $2 million to $10 million. Specific areas of interest include consumer products and services (especially healthy living and wellness), software and outsourcing, or light manufacturing. Rippowam makes control and non-control investments, and through the partner’s personal capital and the firm’s network of family offices, will invest from $5 million to $30 million in equity per transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-28-15