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First Atlantic Capital, Ltd. is a leading middle-market private equity firm with offices in New York City. Since its founding in 1989, the firm has invested over $830 million, resulting in 56 transactions across four funds. The First Atlantic team is composed of fourteen members, including nine investment professionals and five operating partners, who have a combined 240 years of consulting and operating experience.
First Atlantic focuses on the plastics and packaging, food and beverage, industrial products, business services, and consumer products industries with transaction values between $100 million and $500 million. Working in partnership with strong operating management teams, First Atlantic seeks to build value in its portfolio companies through strategic add-on acquisitions, modifications in business strategy, and improvements in operating performance.
The firm’s consulting heritage, extensive operational expertise, and strong focus on portfolio company's development are mainstays of the firm’s investment approach, which has consistently yielded first-quartile returns for its investors since inception.
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Thomas A. Berglund Managing Director |
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Prior to joining First Atlantic Capital, Mr. Berglund was a partner at Jupiter Partners, a middle-market private equity firm. At Jupiter, Mr. Berglund played a pivotal role in sourcing, financing, acquiring and managing portfolio companies in a variety of industry sectors. Prior to joining Jupiter Partners in 1994, Mr. Berglund spent three years as a Principal at the Invus Group, Ltd., a private equity firm specializing in food industry investments. Previously, Mr. Berglund was a Manager at Boston Consulting Group. Earlier in his career, Mr. Berglund was a researcher in the Microelectronics area at Bell Laboratories. Mr. Berglund holds an M.B.A. from the Wharton School at the University of Pennsylvania, a Master of Science from Purdue University, and aBachelor of Science from Lehigh University.
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Roberto Buaron Chairman and CEO |
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Roberto Buaron’s background combines investment experience with extensive consulting and management expertise. Prior to founding First Atlantic Capital in 1989, Mr. Buaron was a Senior Partner with Overseas Partners Inc., a firm which invested international funds in LBOs in the United States. From 1983 to 1986, Mr. Buaron was a First Vice President of Smith Barney, Inc., and a General Partner of its venture capital affiliate, First Century Partnership. Prior to joining First Century, Mr. Buaron was a Partner of McKinsey & Company, Inc. During his nine-year tenure at McKinsey, he counseled senior management at a number of Fortune 500 companies on improving their strategic position and operating performance. Mr. Buaron has a graduate degree in electrical engineering from the Politecnico of Milan in Italy, an M.B.A. from INSEAD in France, and an M.B.A. from Harvard Business School.
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James A. Grover Managing Director |
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Prior to joining First Atlantic in 1998, James Grover was an Associate and Business Analyst at New York Consulting Partners, Inc. There he assisted Fortune 500 companies in developing strategies and solving supply-chain-related operating problems. Mr. Grover began his career as an engineer after receiving a B.S.E. in Mechanical Engineering and Materials Science from Duke University.
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Aneil P. Lala Associate |
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Prior to joining First Atlantic in 2007, Aneil Lala was an Analyst in the Financial Sponsor Group at JP Morgan, where he evaluated capital funding opportunities and acquisition strategies for private equity firms and their portfolio companies. Mr. Lala holds a Bachelor of Arts with Distinction in Economics and a Bachelor of Arts in Public Policy Studies, cum laude, from Duke University.
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James A. Long Senior Advisor |
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James A. Long has more than 30 years of successful experience in identifying, acquiring and building businesses. Prior to joining First Atlantic in 1991, Mr. Long was an Executive Vice President and a member of the Executive and Operating Committees of Primerica Corporation (formerly American Can Company), where he worked from 1975 to 1989. Mr. Long was a key member of the team that restructured Primerica from a capital intensive, manufacturing concern into a dynamic financial services and specialty retailing organization. He had significant responsibility for identifying and implementing over 80 acquisitions and divestitures with an aggregate value in excess of $6 billion. From 1970 to 1975, Mr. Long was Director of Acquisitions for The Sperry and Hutchinson Company. Mr. Long holds an M.B.A. from Columbia Graduate School of Business and a B.A. from Dartmouth College.
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Peter M. Patricola CFO |
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Mr. Patricola joined First Atlantic Capital in April of 2008, after six year as a director in the Citigroup investment banking division. At Citigroup, Mr. Patricola directed financial reporting for major Citigroup subsidiaries engaged in commercial and consumer lending, leasing, structured finance including municipal bond and loan securitizations, retail brokerage, proprietary trading in equities, fixed income securities and related hedging transactions. Prior to joining Citigroup, Mr. Patricola spent twelve years at Prudential Securities Inc., a registered broker-dealer, where he held several senior positions as Director of Accounting, Director of Corporate Tax and Senior Vice President in Regulatory Reporting. Earlier in his career, Mr. Patricola was a controller at several hedge funds, as well as spending four years as a senior auditor with Arthur Young & Company. Mr. Patricola holds an M.B.A. in Accounting from Baruch College , and is a Certified Public Accountant.
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Emilio S. Pedroni Principal |
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Prior to joining First Atlantic Capital in 2003, Mr. Pedroni worked as an Engagement Manager in the Corporate Finance & Strategy group at McKinsey & Company, consulting to leading companies on corporate development, capital structure and organizational design. From 1996 to 1999, Mr. Pedroni was an Executive Director at CIBC World Markets, where he delivered investment and corporate banking advice to the transportation and aerospace-defense industries. He also worked as an Associate in the Corporate Finance department at JPMorgan Chase starting in 1993. Mr. Pedroni holds a graduate degree in Economics from Bocconi University in Milan, Italy.
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Mahesh Saladi Senior Advisor |
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Mahesh Saladi began his career in 1978 and held various positions with Dredging Corporation of India, a government of India undertaking, and Editing Concepts and Subsidiaries, a New York-based firm. Prior to accepting a full time position with First Atlantic in 1992, Mr. Saladi was a Vice President and Senior Consultant at RKB Consulting Group, Inc. and provided services to First Atlantic as a consultant since 1989. Mr. Saladi holds a master's degree in Accounting and Banking.
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Dolan Talukdar Associate |
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Prior to joining First Atlantic in 2008, Dolan Talukdar was an Associate in the Global Sponsor Finance group at GE Capital, where she originated private equity investments for large and mid cap financial sponsors. Before joining GE, she was an Analyst in the Leveraged Finance group at JPMorgan, where she evaluated capital funding, structuring and acquisition opportunities for companies and private equity firms focused in the Technology, Media & Telecom sectors. Ms. Talukdar holds a Bachelor of Arts in Economics from Grinnell College
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John Dezio Operating Partner |
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Mr. Dezio joined Captive as President and Chief Operating Officer in 1995 and was CEO in 2006. He previously managed seven small to medium sized manufacturing businesses between 1993 and 1995 for Leucadia National. For eight years prior to that, Mr. Dezio was President of Continental Plastic Containers, a subsidiary of Continental Can Company, until its divestiture. At Continental over a 28 year span, his other responsibilities included Vice President of Manufacturing and Vice President of General Packaging for Metal Containers. Mr. Dezio holds a B.S. in Mechanical engineering from New Jersey Institute of Technology.
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Thomas Evans Operating Partner |
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Mr. Evans has 35 years of broad experience within the global transportation and industrial markets, and is a proven industry leader in technology development, manufacturing, international operations and executive management. Mr. Evans has served as Chairman/CEO of Collins & Aikman Corporation, CEO of Tenneco Automotive and Executive VP for Global Operations at Case Corporation. Following his executive level positions and operational roles, Mr. Evans has spent several years as a Managing Director with Glass & Associates and the Huron Consulting Group, focused on their respective Restructuring & Turnaround practices. Mr. Evans currently serves on the board of Visiocorp, plc and Hennessey Capital Solutions, Inc., and is active in both the Finance and Compensation Committee areas. Mr. Evans holds a bachelor’s degree in mechanical engineering from Pennsylvania State University, a master’s degree in mechanical engineering from the University of Michigan, and a master’s of business administration degree from the Advanced Management Program at Michigan State University.
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John R. Myers Operating Partner |
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Mr. Myers has extensive senior management and operating experience developed over a 40-year business career. First Atlantic established its relationship with Mr. Myers in 1999 when he agreed to become CEO of Tru-Circle Corporation, a First Atlantic portfolio company. Prior to that, he gained nearly 20 years of experience as the CEO, chairman or president of a number of successful aerospace, manufacturing and services firms including Garrett Aviation Services, Thiokol Corporation, and Textron-Avco Corporation’s Turbine/Piston Engine Group. Prior to that, for two years Mr. Myers served as Vice President and General Manager of the Nuclear Medical Scanner Division of Technicare Corporation. He also has 18 years of experience at the General Electric Company. Mr. Myers earned a B.S. in mechanical engineering from Pennsylvania State University. Mr. Myers is a Director of Precision Parts, a First Atlantic portfolio company. He also currently sits on the board of Curtis-Wright Corporation where he chairs the compensation committee and is a member of the governance committee.
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Steven Torok Operating Partner |
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Mr. Torok has considerable senior management, operating, and strategic experience developed during a 30-year career at DaimlerChrysler, and more recently as a senior advisor to Booz Allen Hamilton in their global automotive consulting practice. While at DaimlerChrysler, Mr. Torok served in a wide-ranging number of roles over time including, General Manager of the Chrysler Plymouth Division, Vice President of Strategy and Business Development, and Senior Vice President of Strategic Assessment. In 2000, Mr. Torok was elected to the board of Mitsubishi Motors and spent four years in Japan as Head of Mitsubishi International with responsibility for Asia, Europe, and North America. He also served as a Vice President in the merger integration team during the Mercedes Benz, Chrysler merger. Mr. Torok is a graduate of Wesleyan University where he earned a B.A. He also holds an MBA from Harvard Business School. First Atlantic established a relationship with Mr. Torok in 2005 when First Atlantic asked him to join the board of Presolite Electric. Mr. Torok is currently a Director of Prestolite Electric and Precision Parts, First Atlantic portfolio companies.
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BHM Technologies
BHM Technologies, LLC ("BHM") headquartered in Michigan, is uniquely positioned as a supplier of low- and high-volume complex assemblies with significant expertise in product design and engineering, advanced welded technology, precision metal-forming and large-diameter tube bending. The Company’s products are marketed to a diverse customer base in a variety of industrial end markets, including light vehicle, construction and agricultural, as well as lawn and garden. BHM’s products can be broadly grouped into three targeted categories which include complex welded assemblies (instrument panel reinforcement, seat and center console assemblies and body-in-white assemblies), tubular components (fabricated tubes), and exhaust hardware components (exhaust hangers, body hangers and clamps).
URL: http://www.browncorp.com
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Precision Parts International
Precision Parts International, LLC (“PPI”) is a leading designer and manufacturer of precision metal components and subassemblies for diversified automotive, aviation and industrial customers, with a core focus on powertrain and other mission-critical applications. PPI specializes in complex precision metal forming process technologies and operates in three key segments: Fineblanking, Precision Stamping and Precision Gearing. The Company is headquartered in Rochester Hills, Michigan and has facilities in Knox, Indiana; Spartanburg, South Carolina; Deerfield and Lake Mills, Wisconsin; and Avon, Cleveland and Twinsburg, Ohio.
URL: http://www.precisionparts.com
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Prestolite Electric
Prestolite Electric Inc. ("Prestolite") is a global manufacturer and supplier of alternators and starter motors to high margin, niche markets for heavy-duty (trucks, bus, emergency, off-road) military and industrial applications. The Company focuses on providing value-added, highly engineered products for primarily non-automotive niche markets that demand heavy-duty, robust products and intensive aftermarket support. Prestolite has an expanding international presence and currently operates in the United States, United Kingdom, Argentina, and China. The Company's global manufacturing and distribution network enables Prestolite to provide best-in-class products and services to its fully global customer base.
URL: http://www.prestolite.com
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Country Pure Foods
Country Pure Foods was created through the simultaneous acquisitions of two complimentary regional juice processing companies: Natural Country Farms and Ohio Pure Foods. Today the Company is the country’s leading producer of non-branded fruit juices and fruit drinks for distribution to the institutional foodservice and private label retail markets.
URL: http://www.countrypurefoods.com
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Golfsmith International
Golfsmith International ("Golfsmith") is one of the largest, multi-channel, specialty retailers of golf equipment and related accessories in the industry and is an established designer and marketer of golf equipment. Golfsmith offers equipment from leading manufactures such as Callaway, Cobra, Footjoy, Nike, Ping, Taylor Made, and Titleist in addition to proprietary brands Golfsmith, Lynx, Snake Eyes, and Killer Bee. The Company markets its products through 42 superstores as well as through its direct-to-consumer channel, which includes clubmaking and accessory catalogs and an Internet site.
URL: http://www.golfsmith.com
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Sprint Industrial
Sprint Industrial Holdings, LLC ("Sprint") is the only specialized industrial maintenance service provider to offer both storage and safety equipment for rental to its diversified blue-chip customer base. The Company’s product lines include portable bulk and liquid storage tanks for temporary use during maintenance projects as well as safety products designed to monitor gas levels and to provide respiratory protection to employees. The Company is headquartered in Houston, TX.
URL: http://www.sprintsafety.com
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Captive Plastics
Captive Plastics, Inc. is a leading manufacturer of plastic packaging for the Personal Care, Health Care, Food and Spirits markets. Captive Plastics provides customers with "one stop shopping" through its capability to produce plastic bottles as well as closures nationwide. In addition to blow molding and injection molding, Captive Plastics offers in-house services such as design, engineering, tooling, decorating and assembly of products. Headquartered in Piscataway, NJ, the Company has manufacturing plants in Phillipsburg, NJ, Peosta, IA, Louisville, KY, Edinburgh, IN, Phoenix, AZ and Redlands, CA in addition to the Piscataway production facility.
URL: http://www.captiveplastics.com
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Patriot Sensors
Patriot Sensors is a leading designer and manufacturer of position sensing and liquid level sensing applications. The Company's products are used within the fabrication and assembly, high speed assembly and web processing, material handling automation and mill and heavy industry automation sectors. Patriot Sensors has operations in Michigan and California.
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Custom Food Products
Custom Food Products, Inc. currently doing business as Best Western Foods, Inc. formulates, processes, and markets value-added, cooked and pre-cooked meat products including a range of beef, chicken, pork, poultry, and turkey products. The Company sells its products to consumer product companies, packaged food manufacturers, chain restaurants, and national foodservice chains. It has production facilities in Los Angeles and Carson, California; and Owingsville, Kentucky. The Company was founded in 1946 and is based in Carson, California.
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Otis Spunkmeyer
Otis Spunkmeyer Inc. (“Otis”) is a branded, high-quality manufacturer and distributor of cookies, muffins and other sweet baked goods to the foodservice and retail markets, with an extensive frozen direct-store-delivery (“DSD”) network. Otis is the leading provider of frozen cookie dough to the foodservice channel, and the leading manufacturer of branded muffins to the retail channel.
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Berry Plastics
Berry Plastics Corporation, a leading manufacturer and marketer of plastic injection molded packaging products. The Company operates over 300 injection molding presses and a wide range of decorative printing equipment which are used to manufacture (i) aerosol overcaps, (ii) containers, (iii) drink cups, (iv) housewares, (v) closures and (vi) custom molded products. It was founded in 1967 in Evansville, Indiana
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Ranpak
Ranpak Corporation ("Ranpak") is the leading provider of paper “in-the-box” packaging systems used to protect items for shipment. The Company provides end-users with its proprietary, patented machines and sells them the multi-ply paper rolls used by the machines to create paper-cushioning and void-fill material used inside the box.
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The Firm’s investment strategy is based on the following five key elements:
1) Target middle market companies with significant growth or improvement potential. First Atlantic is primarily interested in acquiring controlling positions through its funds in businesses that it can help build through operating improvements, modifications in corporate strategy, and add-on acquisitions. In particular, the Firm looks for: (i) companies with strong expansion opportunities, either internal or through acquisitions; and (ii) companies with a sound business foundation where a limited number of identifiable changes in operating practices or business strategy can substantially improve financial performance.
2) Utilize consulting and operating expertise to add value. First Atlantic is distinguished from other private equity firms not only in its investment philosophy, but also by the extensive consulting and operating experience of its Principals. The Firm utilizes these skills to add value and insight to a portfolio company’s existing operations, as well as to identify unique opportunities to grow portfolio companies both organically and through acquisitions.
3) Build companies and establish market leaders. First Atlantic seeks to build well-managed companies that are leaders in their respective markets through enhancements in their strategy and operations. For most of its portfolio companies, First Atlantic’s action plan includes significant improvements in the companies operations and the implementation of an add-on acquisition program. The objective is to create strong operating efficiencies and cost savings, grow sales and EBITDA, and enhance the strategic position and importance of the company within its industry.
4) Partner with management. First Atlantic views its partnership and close working relationship with a company’s management team as paramount to its investment success. Prior to any acquisition, First Atlantic’s principals spend a substantial amount of time with a company to develop a growth plan and a specific implementation program.
5) Create proprietary deal flow. First Atlantic’s emphasis on growth, its knowledge of specific industries and multiple successes in building companies often make the Firm the preferred partner for sellers and management teams who are interested in the growth of their company. This has led to a substantial deal flow from private or limited sale processes.
First Atlantic views the closing of an acquisition not as an end, but as the beginning of its long-term plans for that company’s growth. By maintaining a long-term strategic focus, working closely with management, and utilizing the investment and consulting skills of its Principals, First Atlantic has built a strong reputation for delivering superior returns and value to its investors and partners.
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| Year of Investment |
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| 1990 |
Berry Plastics Corporation |
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| 1991 |
Fort Wayne Industries |
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| 1992 |
Mammoth Containers |
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| 1993 |
CFP Group Best Western Center of the Plate |
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| 1994 |
Patriot Sensors & Controls |
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| 1995 |
Industrial Coatings Group Country Pure Foods Natural Country Farms Ohio Pure Foods Sterling Products Tri-plas Plastics Natural Country Farms Ohio Pure Foods |
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| 1996 |
BPC Holding Corp. |
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| 1997 |
Quality Foods Container Industries PackerWare Packer Central Packer Food Products Virginia Design Packaging Venture Packaging |
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| 1998 |
Ardmore Farms Norwich Knight Engineering Otis Spunkmeyer Holliston Mills |
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| 1999 |
Tru-Circle Cardinal Packaging Metalform Closure Line of Clayton Corp Swift-Cor |
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| 2000 |
Poly-Seal Chicago Sales Force J&J Paper Supply King Office Supply Capsol Allied Office Products Peek |
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| 2001 |
Ranpak Professional Office Equipment Moses Sales Force Pescor |
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| 2002 |
Mt. Vernon Golfsmith |
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| 2003 |
WG Global Zevo Golf Co Don Sherwood Golf & Tennis |
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| 2004 |
Captive Plastics Prestolite |
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| 2005 |
Spentech Plastic Containers Premier Plastics |
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| 2006 |
BHM Technologies Vitality Division AMSEA GRAFCO Vitality Division Merit Gear Precision Gearing |
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| 2007 |
Sprint Industrial |
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