Altus Capital Makes Three Hires

Altus Capital Partners has made three hires. Scott Johnson, formerly of Parthenon Capital Partners, is a senior associate at Altus. Mike Barry, a former analyst in the Investment Banking Group of BB&T Capital Markets, joined as a associate. And, Joseph A. Melo was named Altus’ assistant controller in March. Most recently, Melo was part of Morgan Stanley private equity administration arm, where he was a Fund Controller in New York City.

Cheney Joins Altus Capital

Altus Capital Partners has named Dale Cheney as a principal in the firm. Cheney joins from Citicorp Venture Capital and its successor fund, where he was a principal. At Altus, he will be responsible for sourcing and closing new investments. PRESS RELEASE Altus Capital Partners, Inc. (“Altus”), a leading private equity investment firm focused on niche middle market […]

Altus Acquires Shelby Majority Stake

Shelby Township, Michigan-based Models & Tools, a designer and manufacturer of tooling systems used in the aerospace and defense industries, has sold a majority ownership to Altus Capital Partners, a middle market private equity group. The senior management team of Models and Tools will remain in place and maintain a significant equity stake in the […]

Altus Capital Partners Buys Models & Tools

Middle-market buyout shop Altus Capital Partners Inc. has acquired Models & Tools, a designer and manufacturer of tooling systems for the aerospace and defense industries. The firm is making the investment out of Altus Capital Partners II L.P. Terms of the deal were not released.

Altus Fund II Comes in at $200 Million

Altus Capital announced today that it closed its latest fund at $200 million.

The Westport, Conn.-based lower middle market firm had targeted $160 million for Altus Capital Partners II LP. The pool closed yesterday, says Russell J. Greenberg, the firm’s managing partner. Investors include large U.S. pension funds, fund of funds and other institutions.

Mercury Capital Advisors and Sparring Partners acted as placements for fund II.

Marketing for the pool was faster and easier that Altus’ prior fund, says Greenberg. Altus’ last fund, Altus Capital Partners I LP, raised $80 million in 2003. The pool was an SBIC fund and Altus received $50 million from the SBA, plus $30 million from private investors. Because Altus I was an SBIC fund, Altus needed to have co-investors for each of the eight deals it did, Greenberg says. “Fund II won’t require co-investments,” he says.

Altus Capital Partners Adds Kim VanCleef

Middle market private equity firm Altus Capital Partners has named Kim VanCleef a vice president in its Chicago-area offices. VanCleef has worked previously at Alvarez & Marsal and at Dymas Capital Management, an affiliate of Cerberus Capital Management. Altus is based in Westport, Conn.

Altus Capital Wraps D.S. Brown Sale

Connecticut-based private equity firm Altus Capital Partners completed the sale of its D.S. Brown Co., a provider of safety-critical transportation infrastructure products, to Gibraltar Industries, Inc. According to a statement from Altus, the 28 months of the PE firm’s ownership, D.S. Brown increased its revenues by 35% and its EBITDA by 133 percent. Specifics of […]

InterGrowth: Manufacturing Poised For Rebound

Manufacturing has recovered strongly since the Great Recession and is likely to retain a key position in the U.S. economy, according to participants at the Association for Corporate Growth’s InterGrowth conference this week in San Diego.

This perspective should be reassuring for financial sponsors, who historically have favored sectors such as manufacturing, with its hard assets and generally reliable, if often unglamorous, financial performance.

While the sector should continue to be a mainstay of the economy, its prospects are likely to be driven more by technological investments and automation, even as its role as a job creator continues to decline.

Altus Capital Partners, a boutique buyout shop in Westport, Conn., looks for target companies that have a proprietary technology or process that can drive their growth, said Elizabeth Burgess, a senior partner at the firm, during a panel discussion on manufacturing. But the firm also must analyze the cost of maintaining the competitive edge of its portfolio companies, she said.

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