BOSTON & MENLO PARK, Calif.--(BUSINESS WIRE)--
Global growth equity investor Summit Partners today announced the
addition of Grant
Beard to the firm’s Executive-in-Residence (“EIR”) program. In this
role, Beard will work closely with Summit’s Industrial Technology team
to identify new investment opportunities in rapidly-growing businesses
in the industrial technology sector with a focus on engineered products,
specialty packaging, applied materials and automotive sub-sectors.
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Industrial Entrepreneur Grant Beard Joins Summit Partners’ Executive-in-Residence Program (Photo: Business Wire)
Mr. Beard brings decades of operating experience, deep industrial sector
expertise and an extensive network to Summit’s EIR program. Currently,
he serves as Chairman of the Board of Directors of Advanced Energy
(NASDAQ: AEIS), a global provider of energy conversion products serving
the semiconductor and other processing industries. Most recently, Beard
served as Chairman of Wynnchurch Industries and as an advisor to
Wynnchurch Capital, a private equity fund focused on industrial
companies in lower middle markets, where he reviewed new investment
opportunities.
Beard joined Wynnchurch from Wolverine Advanced Materials, a global
producer of specialty elastomeric materials that provide noise abatement
and sealing capabilities. During his three-year tenure as Chairman and
CEO at Wolverine, Beard led the company through a period of strong
global growth culminating in Wolverine’s sale to ITT Corporation in 2015.
Beard’s prior CEO experience includes Constar International (NASDAQ:
CNST) – a global supplier of rigid plastic packaging products which was
sold to Plastipak Corporation in 2013 – and Trimas (NYSE: TRS) – a
diversified engineered products business, which Grant led through an
initial public offering in 2007.
“We are enthusiastic about this partnership with Grant through Summit’s
EIR program,” said Summit Managing Director Jay
Pauley. “He’s an extremely talented operator and a strategic thinker
with a long history of building market-leading companies and driving
growth across various industrial sub-sectors.”
“Upon my first introduction to Summit Partners, two things were clear –
they have a deep knowledge of the industry and a long history of
building productive, lasting partnerships with entrepreneurs,” said
Beard. “I’m eager to get to work as a member of the Summit EIR program,
and utilize our combined experiences to source and execute on new
opportunities together.”
Summit Managing Director John
Carroll added, “We are thrilled to welcome Grant to our EIR program.
Summit has been active in the industrial sector for more than three
decades, and Grant will add invaluable perspective to our proactive deal
sourcing processes. We look forward to partnering with him as we seek
new opportunities within the sector.”
Summit’s EIR program is an established and successful element of the
firm’s growth-oriented investing strategy. Since its inception in 1999,
the program has facilitated collaboration between seasoned industry
executives and Summit’s sector teams, working to identify investment
opportunities, conduct due diligence, and create and support value
creation plans for the companies with which Summit has partnered.
About Summit Partners
Founded in 1984, Summit Partners is a
global alternative investment firm that is currently managing more than
$15 billion in capital dedicated to growth equity, fixed income and
public equity opportunities. Summit invests across growth sectors of the
economy and has invested in more than 460 companies
in healthcare, technology and other growth industries. These companies
have completed more than 140 public equity offerings, and more than 180
have been acquired through strategic mergers and sales. Notable industrial
companies financed by Summit include Harvey Performance Company,
FineLine Technologies, Parts Town, Grand Design and Welltec. Summit
maintains offices in North America and Europe, and invests in companies
around the world. For more information, visit www.summitpartners.com
or on Twitter at @SummitPartners.
In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this document
is issued by Summit Partners LLP, a firm authorized and regulated by the
Financial Conduct Authority. Summit Partners LLP is a limited liability
partnership registered in England and Wales with registered number
OC388179 and its registered office is at 11–12 St. James’s Square,
London, SW1Y 4LB, UK. This document is intended solely to provide
information regarding Summit Partners’ potential financing capabilities
for prospective portfolio companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171114006407/en/
Summit Partners
Meg Devine, +1 617-824-1047
mdevine@summitpartners.com
Source: Summit Partners
