Genstar Strengthens Team of Operating Partners with Appointment of Edmund M. Carpenter
March 20 2007 - 10:16AM
PR Newswire (US)
Former CEO Adds Extensive Operating Expertise to Help Source and
Enhance Industrial Technology Investments SAN FRANCISCO, March 20
/PRNewswire/ -- Genstar Capital, LLC, a middle market private
equity firm that focuses on investments in selected segments of the
industrial technology, life sciences, healthcare services, and
business services sectors, today announced that it has named Edmund
M. Carpenter as Operating Partner to help identify investment
opportunities and enhance the operations of Genstar's businesses in
the industrial technology sector. Mr. Carpenter, a respected
industry veteran with more than 40 years of experience, has served
as Chief Executive of several leading industrial corporations, most
recently as CEO of Barnes Group, Inc. (NYSE:B). "Working with
highly skilled operating executives has been a tenet of Genstar's
strategy since 1995 and we are pleased to welcome Ed to our team,"
said Jean-Pierre L. Conte, Chairman and Managing Director of
Genstar. "As a former CEO of several major corporations he knows
what is required to transform a business and to build a healthy and
growing organization. He will bring a high level of engagement to
the entire investment process and we are certain his insights will
be invaluable as we continue to invest in new industrial technology
companies and create strong businesses." Since 1998, Mr. Carpenter
has served as Chief Executive Officer of Barnes Group, a more than
$1 billion diversified international manufacturer of precision
metal components and assemblies and distributor of industrial
supplies. For two years prior to that he was a Senior Managing
Director at private investment firm Clayton, Dubilier & Rice
where he worked to enhance the operations of a number of their
portfolio companies. From 1988 to 1995, Mr. Carpenter was Chairman
and Chief Executive of General Signal Corporation, a diversified
manufacturer of industrial products that he helped to transform.
Before joining General Signal he held a series of high level
positions at ITT Corporation, culminating with his appointment in
1987 as President and Chief Operating Officer where he was
responsible for three major industrial sectors with revenues of
nearly $5 billion. He also served in senior capacities with
Fruehauf Corporation for seven years. Mr. Carpenter began his
career at Michigan Bell Telephone Company in 1964 after receiving
his B.S. and MBA degrees from the University of Michigan. Mr.
Carpenter expands Genstar's prestigious group of operating
partners, joining Mark Hanson, a software industry executive with
more than 24 years of experience who is leading Genstar's targeted
strategy within the information services sector. Before joining
Genstar in 2006, Mr. Hanson helped to successfully build the
operations of a number of companies in that industry and most
recently served as Senior Vice President for Corporate Development
and Chief of Staff for Siebel Systems, Inc., where he worked
closely with the executive team to help the company return to
growth in 2005. Mr. Carpenter, said, "I am extremely impressed with
the very talented management team at Genstar and the quality
companies they have helped build over the years. I believe my
experience within the industrial sector will help Genstar to
identify and evaluate new platform investments, as well as add-on
acquisitions, and to create stronger businesses." Genstar's recent
transactions include its planned acquisition of International
Aluminum Corporation (NYSE:IAL), a leading manufacturer of
residential and commercial aluminum building materials, in a
transaction valued at $228 million; and the acquisition of OnCURE
Medical, a Newport Beach-California operator of treatment centers
focused on providing state-of- the-art radiation treatment
alternatives. Its recent realizations include the sale of portfolio
company Axia Health Management, the leading national provider of
preventive health and wellness programs, to Healthways, Inc., for
$450 million and the successful initial public offerings of Altra
Holdings, Inc. (NASDAQ:AIMC), a Quincy, MA-based provider of
mechanical power transmission and motion control products, and
North American Energy Partners, Inc. (NYSE:NOA), an Alberta
Canada-based energy services company. About Genstar Capital, LLC
Based in San Francisco, Genstar Capital (http://www.gencap.com/) is
a private equity investment firm that makes leveraged investments
in quality middle-market companies. Genstar Capital works in
partnership with management to transform its portfolio companies
into industry-leading businesses. With more than $900 million of
committed capital under management and significant experience
investing in businesses, Genstar focuses on selected segments of
the industrial technology, life sciences, healthcare services and
business services sectors. DATASOURCE: Genstar Capital, LLC
CONTACT: Chris Tofalli, +1-914-834-4334, for Genstar Capital, LLC
Web site: http://www.gencap.com/
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