151 Views

RMG Networks hires ex Sterling Partners’ operating partner as interim president/CEO

RMG Networks has named Robert Michelson as interim president and CEO. The appointment is effective immediately. Michelson is replacing Garry K. McGuire Jr. Michelson is a former operating partner at Sterling Partners. RMG Networks has also promoted Loren Buck to chief operating officer from executive vice president of strategy and business operations. Headquartered in Dallas, RMG helps companies communicate better using location-based video networks.

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PE-backed School of Rock hires CEO

Music education franchise School of Rock, which is backed by Sterling Partners, has hired Dzana Homan as CEO. Previously, Homan worked at Goddard Systems where she served as chief operating officer.

186 Views

PE-backed Adeptus Health debuts IPO

Adeptus Health, a portfolio company of Sterling Partners, has launched its IPO after pricing its 4.9 million shares at $22 per share. The stock began trading Wednesday on the NYSE under the ticker symbol “ADPT.” Deutsche Bank Securities, Goldman Sachs, Evercore Group and Morgan Stanley are the lead underwriters. Adeptus Health owns and operates First Choice Emergency Room, a network of independent freestanding emergency rooms.

PE-backed SAVO Group adds to board of directors

SAVO Group has named Steve Collins to its board of directors. Collins is the former CFO at ExactTarget. Headquartered in Chicago, SAVO is a sales software developer. It is backed by Goldman Sachs, Sterling Partners and SAP Ventures.

PE-backed Prospect Mortgage appoints new CEO

Prospect Mortgage, which is backed by Sterling Partners, has named Michael J. Williams as its CEO. The appointment is effective immediately. Williams replaces Ronald L. Bergum who is transitioning from CEO to managing partner. In addition to his new role as CEO, Williams will remain the chairman of Prospect’s board. Prospect Mortgage is a home purchase lender.

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Goldman Sachs leads $35 mln round for SAVO

SAVO Group said Wednesday that it has secured $35 million in funding. Goldman Sachs led the round with participation from previous backers Sterling Partners and SAP Ventures. The capital will be used for expansion and to further develop SAVO’s sales and marketing applications. As a result of this transaction, Michael McGinn and Holger Staude of Goldman Sachs’ private capital investing group, have joined SAVO’s board. Headquartered in Chicago, SAVO is a sales software developer.

Sterling Partners’ Q-Centrix names new CEO

Q-Centrix, a portfolio company of Sterling Partners, said Tuesday that it has hired Milton G. Silva-Craig as its new CEO. The appointment is effective immediately. Silva-Craig replaces Rob Schwager, who is transitioning from CEO to chairman. Previously, Silva-Craig worked at TransUnion’s healthcare business unit where he served as president. Based in Portsmouth, N.H., Q-Centrix is an outsourced provider of healthcare solutions.

Sterling Partners’ Mike Drai Promoted to Principal

Private equity firm Sterling PartnersMike Drai has been promoted from vice president to principal. Drai joined Sterling in 2008 and is a vice president. Prior to Sterling, he worked at GTCR Golder Rauner, Allen & Company and Salomon Smith Barney. He received a BS in finance from University of Illinois and an MBA from Kellogg School of Management.

Sterling’s Desert NDT Acquires T&K Inspection

Full-service nondestructive testing company Desert NDT has acquired T&K Inspection. This is the company’s second acquisition since private equity firm Sterling Partners made its investment in March 2012. Financial terms of the purchase were not disclosed.

Sterling’s Desert NDT Appoints Former Transfield Services CEO

Full-service nondestructive testing company Desert NDT has appointed Larry Ames, former CEO and president of the Americas at Transfield Services as CEO. He succeeds Doug Frey, who will remain involved with the company as a director. Desert NDT is a portfolio company of Sterling Partners, a Chicago-based private equity firm. PRESS RELEASE Desert NDT, LLC, […]

Sterling Partners Acquires Spartan College

Sterling Partners has acquired Spartan College of Aeronautics and Technology, an aviation-maintenance school for training pilots, aviation technicians and nondestructive testing professionals. Terms of the transaction were not disclosed.

Prospect Mortgage Names Former Fannie Mae CEO Michael Williams as Chairman

Prospect Mortgage, a Sherman Oaks, Calif.-based home purchase lender, has appointed Michael Williams, a former president and CEO of Fannie Mae, chairman of its board of directors. Prior to Fannie Mae, Williams held positions at KPMG Peat Marwick and the DuPont Company. Prospect is backed by the private equity firm Sterling Partners.

Foundation Partners Group Appoints Brad Rex as CEO

Foundation Partners Group, an owner and operator of funeral homes and cemeteries in the U.S., has appointed Brad Rex as president and CEO. Rex was mostly recently CEO of his own hospitality consulting company; previously, he was chief customer officer for Hilton Grand Vacations. Foundation is a portfolio company of the Baltimore-based private equity firm Sterling Partners.

SecureNet Lands $18 Million Led by Sterling Partners

SecureNet, a Rockville, Md.-based maker of payment processing software, has raised $18 million in growth financing led by the private equity firm Sterling Partners. PRESS RELEASE: SecureNet Payment Systems, a leader in payment processing technology, announced today that Sterling Partners, a leading growth-oriented private equity firm with approximately $5 billion in assets under management, has […]

Sterling Partners Backs School of Rock Again

For those about to rock, Sterling Partners salutes you. The Chicago-based private equity firm is putting another $5 million in School of Rock, the music education company, along with the company’s existing investors. School of Rock was formed in Philadelphia. PRESS RELEASE: Second capital infusion since 2009 investment will further expand growth in U.S. and […]

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