Turnspire Capital Partners has hired Abel Osorio as a Principal and Maurice Murphy as an Operating Partner.
“We are thrilled to welcome Abel and Maurice to Turnspire,” said Turnspire Managing Partner Ilya Koffman. “Both were closely involved in our recent acquisition of United Plastics Group and will bring invaluable experience to the Turnspire portfolio and to future investments.”
Mr. Osorio joins Turnspire with over 10 years of experience, most recently as a co-founder of Montserrat Capital Management, a special situations investor that was formed in July 2014. Prior to Montserrat, he was a Vice President at Battery Ventures from July 2012 to June 2014 where he sourced, structured and led the execution of leveraged buyouts in North America and Europe. He started his career in private equity as an associate at H.I.G. after working as an investment banker for Thomas Weisel Partners. Mr. Osorio has an MBA from Wharton and a BA from New York University.
Mr. Murphy is manufacturing executive with over 30 years of experience. He is the founder of MWM Global Partners, a provider of management consulting, M&A advising, integrations and business operation services, mostly for private equity clients. In June 2016, he partnered with Turnspire to acquire a division of United Plastics Group (UPG) from MedPlast, a portfolio company of Baird Capital. UPG is a maker of assembled components and finished products that are sold to the datacenter, automotive, energy and industrial markets. Mr. Murphy currently serves on the Board of Managers of UPG. In September 2015, Mr. Murphy partnered with Los Angeles-based private equity firm Deer Creek Holdings to acquire Avkem International (then named Basic Resources), a supplier of chemicals and equipment for the metals industry. He is currently Chairman of Avkem International.
Turnspire invests up to $30 million in companies with revenues between $25 million and $300 million. The firm prefers companies that are underperformers and/or in need of an operational turnaround. Sectors of interest include aerospace and defense; automotive; capital equipment; chemicals; consumer; construction and building materials; engineered products; food and beverage; industrial equipment; logistics (asset heavy); metals and metal fabrication; paper and packaging; and plastics and synthetic materials. Turnspire is led by its founders Michael Khutorsky and Ilya Koffman and is based in New York (www.turnspirecap.com).
“With our growing team, we look forward to continuing to execute the Turnspire strategy of acquiring high-quality companies, both healthy and distressed, with significant opportunities to create value through operational improvements,” added Mr. Koffman.
© 2016 Private Equity Professional • 7-28-16
