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New Firm to Focus on North America Mid-Market Industrial Manufacturing and Business Services Investments
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Sun Capital to Continue Established Strategy Under Long-Tenured Senior Leadership and In-House Operations Team
BOCA RATON, Fla., April 10, 2024–(BUSINESS WIRE)–Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that three of its executives— Daniel Florian, M. Steven Liff, and Jeremy Stone—have departed the firm and launched Palm Peak Capital, LLC (“Palm Peak”), with the full support of Sun Capital’s Co-Founders and Co-CEOs.
“My partner Rodger and I congratulate Daniel, Steven and Jeremy on the launch of Palm Peak, which we will fully support in our capacity as limited partners,” said Sun Capital Co-Founder and Co-CEO Marc Leder. “Over many years, all three have made significant contributions to the success of Sun Capital, and the launch of this new firm will give them an opportunity to apply what they have learned at Sun Capital and build their own legacy.”
Palm Peak will be focused on making majority investments in North America based industrial manufacturing and business services companies with enterprise values up to $300 million.
Daniel Florian has been engaged in private equity and corporate finance for 20 years. At Sun Capital, he served as Senior Managing Director and Partner. He worked on dozens of transactions across the industrial and services verticals, including Aclara, SOS Security, Innocor, and Platinum Dermatology Partners.
M. Steven Liff has been engaged in private equity and leveraged finance for nearly 30 years. At Sun Capital, he was the Senior Partner and Head of North American Private Equity and served on the Investment Committee as well as the Firm’s Executive Committee. In addition, he worked on transactions across numerous vertical markets, including Cotton Holdings, Horizon Services, Frontier Spinning, Cornerstone, Timothy’s Coffee and Andersen Commercial Plumbing.
Jeremy Stone has been engaged in private equity and corporate finance for 20 years. At Sun Capital he was Senior Managing Director and Partner, leading the North American industrial sector investment team and worked on dozens of transactions, including, Arrow Tru-Line, Demelic, Stake Center Locating, Architectural Surfaces, Unico Technologies, Calcium Products, and Kovalus Separation Solutions.
All three will continue to serve as board members on select Sun Capital portfolio companies.
“Daniel, Jeremy and I are extremely grateful to Marc and Rodger for their guidance and encouragement over the years, and we look forward to continuing to tap their knowledge and insight as we embark on this new journey,” said Liff. “While it is bittersweet to depart a firm that has been such an important part of our lives and professional development going back several decades, we are happy to have their unwavering support.”
“Sun Capital is fortunate to have an outstanding senior bench strength across the organization,” added Rodger Krouse, Co-Founder and Co-CEO of Sun Capital. “With our 28+ year heritage of investment and a team of approximately 90 employees globally, including 14 senior deal professionals with an average tenure of 10 years and an over 10-person in-house operations team, we will continue to strive to deliver excellence to our investors and portfolio companies alike.”
Sun Capital has been very active in 2024, having completed two exits and 14 add-on acquisitions. The firm has also promoted two deal team principals to managing director and has added three senior executives to its operations team.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 500 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The Firm has built a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the Services, Industrials & Distribution and Food & Consumer sectors. The firm has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London. For more information, please visit www.suncappart.com.
About Palm Peak Capital, LLC
Palm Peak Capital, LLC is a private equity firm that invests in leading middle market industrial manufacturing and business services companies across North America. We believe private equity is a team sport and our role is to provide comprehensive support for talented teams including capital, operating resources, and our cultural imperatives of passion, grit, and integrity to help great companies achieve “peak performance.”
For more information, please visit www.palmpeakcapital.com.
Certain statements about Palm Peak made by Sun Capital executives herein are intended to illustrate Sun Capital’s potential business relationship with Palm Peak but not deemed to be an endorsement of their investment advisory firm and Sun Capital does not guarantee future performance or success of Palm Peak.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240410367853/en/
Contacts
For more information, please contact:
Pia De Sousa, Vice President of Marketing
Sun Capital Partners, Inc.
561-394-0550
pdesousa@suncappart.com
Palm Peak Capital, LLC
team@palmpeakcapital.com
