There is a clear need for capital, managerial resources, and strategic leadership in this segment of the market
Richmond, VA (PRWEB) May 8, 2008
Boxwood Partners, LLC announces the launch of Boxwood Capital Partners, LLC, a private equity group focused on acquiring early stage yet profitable marketing, media, and services companies that utilize technology and the internet to drive their business.
The group combines the executive experience of Patrick Galleher, former chief executive officer of an international publicly-traded company, the financial expertise of Bobby Morris, experienced investment banker and chief financial officer, and the technology experience of Chris Deel, former chief technology officer and IT systems developer.
As chief executive officer of WILink plc (now known as PrecisionIR Group), Galleher led an international investor relations and webcasting communications and technology business with operations in the U.S., Canada, U.K., Continental Europe, and Sweden. Patrick was chief operating officer at the time WILink went public on the London Stock Exchange, and led and integrated five acquisitions to expand the Company's capabilities and client base. In 2006, he successfully led the Company through a public-to-private sale to a NY-based private equity group.
Morris worked as a director in the Cobblestone Advisors group at Harris Williams & Co., a national middle market M&A firm, prior to founding Boxwood Partners. He also has experience in the investment banking departments of Wheat First Butcher Singer (now Wachovia Securities) and Scott & Stringfellow, Inc. (now BB&T Capital Markets), and gained valuable operating experience as the chief financial officer of a private equity-backed company.
Deel's expertise includes IT operations management and rapid application development. As chief technology officer of PrecisionIR Group with specific experience in ecommerce, new media, and internal process management, he oversaw all aspects of IT infrastructure and security. He was directly involved in the due diligence and integration processes as part of PrecisionIR Group's five acquisitions. Prior to PrecisionIR Group, Deel held technology-related positions at national retailers Circuit City and CarMax.
Ideal acquisition candidates for Boxwood Capital Partners will generate between $500,000 and $2 million in earnings annually, and operate within a market niche that can support significant U.S. and/or international growth. "There is a clear need for capital, managerial resources, and strategic leadership in this segment of the market," says Morris. "We are essentially bridging the gap between traditional private equity investing, which generally targets larger companies, and local individual investors, for whom transactions of this size and characteristic are often difficult to finance, especially in today's credit environment."
Boxwood Capital Partners' location in Richmond, VA also helps fill a void in the local market for private equity. "Our area has many attributes that make it ideal for growing, entrepreneurial companies, including a well-educated workforce, a solid business services and government infrastructure, a moderate cost of living, and an ideal geographic location," says Galleher. "But if you look at Richmond compared to other cities in the Southeast, such as Charlotte, Atlanta, and Raleigh, it does not offer many options for companies seeking private capital, with a relatively few organized private equity firms. We intend to change that."
In the short time since beginning to actively look for acquisitions, Boxwood Capital Partners has identified a number of very interesting opportunities. The firm expects to close its first portfolio investment, an online wholesaling company, in June of this year, and has started fund raising for its first dedicated investment fund, targeting $15-20 million.
About Boxwood Partners, LLC:
Boxwood Partners (http://www.boxwoodpartnersllc.com), together with its affiliate Boxwood Capital Partners, is an integrated mid-market investment banking and private investment management firm based in Richmond, VA. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give our clients a distinct advantage in the market. The firm's extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, hedge funds, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants ensure that the firm's clients receive the attention and service they deserve.
Phone: (804) 343-3441