GREENWICH, CT, March 6, 2006 -- Littlejohn & Co., a private investment firm that applies an operational approach to building middle market companies undergoing fundamental change, today announced the promotions of Steven Raich and David Simon to Principal. In addition, the firm announced the promotion of Antonio Miranda to Vice President.
"The entire firm is extremely pleased to acknowledge the significant achievements of these outstanding investment professionals," said Angus C. Littlejohn, Jr., Chairman and CEO of Littlejohn & Co. "Both Steven and David have been instrumental in our success to date and both are closely involved in enhancing the performance of our portfolio companies. We look forward to their continued contributions in the years ahead."
Messrs. Raich and Simon actively participate in all aspects of the firm's transactions, from deal sourcing to exit, and working closely with portfolio company management teams. Their promotions as Principals follow the firm's completion last year of its Littlejohn Fund III, L.P. which was significantly oversubscribed with capital commitments of $650 million.
Michael I. Klein, President of Littlejohn, said, "Steven and David have helped us greatly through the entire investment process as we evaluate new investment possibilities, improve and grow businesses and realize on those investments. These promotions are well deserved and all of us at the firm thank them for their commitment to Littlejohn and to our investors. Tony, who joined us in 2004, has already made a big impact and demonstrates the skills that will make him a leader in the future as well."
Recent investments by Littlejohn include its majority investment in Kenan Advantage Group, the largest and only national transporter of fuels and other petroleum based products; and the acquisition of Clean Earth, Inc., a leading regional provider of integrated environmental services and solutions to a broad range of customers, including utilities, commercial real estate developers, manufacturers, energy companies, construction firms and government entities.
In December of 2005 Littlejohn also completed the sale of PSC, Inc., an international data-collection technology and services provider, to Datalogic (Techstar: DAL.MI) for $195 million.
Mr. Raich joined Littlejohn in June 2000 from Golub Associates, where he analyzed new investment opportunities and worked with portfolio company managers. Previously, Mr. Raich was a Senior Associate in the mergers and acquisitions advisory services group at Ernst & Young, LLP. Mr. Raich received an M.B.A. with distinction from the Stern School of Business at N.Y.U. and a B.A. cum laude from Duke University. He is a C.P.A.
Mr. Simon joined Littlejohn in 2001 and previously was an Associate at Fenway Partners, where he evaluated, structured, and monitored private equity investments. Prior to that, he was an Analyst in the Financial Entrepreneurs Group of Smith Barney Inc. where he advised private equity firms and their portfolio companies in a variety of industries. Mr. Simon received an M.B.A. from The Wharton School, with honors and a B.S. in Economics with a concentration in Finance from The Wharton School, magna cum laude.
Mr. Miranda joined Littlejohn in 2004 after serving as an Associate at Clayton, Dubilier & Rice, Inc. Prior to that he was a financial analyst at J.P. Morgan & Co. in their investment banking division. Mr. Miranda received an MBA from the Stanford Graduate School of Business and also an A.B. with honors from Harvard College.