Borgman Capital recruits Axelrod as managing director

• Prior to joining Borgman Capital, he was a managing director and group head of the investment banking practice at CLA
• Previously, Axelrod worked in the Minneapolis offices of Lazard and RBC Capital Markets
• Borgman Capital was founded in 2017

Borgman Capital, a Milwaukee-based lower middle market private equity firm, has hired Ben Axelrod as a managing director.

In his new role, Axelrod will initiate the firm’s presence in the Minneapolis-St. Paul area.

“Borgman Capital is committed to the lower middle market, and we believe the Upper Midwest, specifically Minnesota, the Dakotas and Iowa, continue to be underserved. That makes the Twin Cities an optimal place to put down roots,” said Sequoya Borgman, founder and CEO of Borgman Capital, in a statement. “We are excited to welcome Ben to the team and establish a presence in Minnesota. We have worked with Ben previously on several transactions, including one of our earlier investments. His track record of serving business-owner entrepreneurs and families, and his dedication to the lower middle market, make him perfect for this role.”

Prior to joining Borgman Capital, he was a managing director and group head of the investment banking practice at CLA. Previously, Axelrod worked in the Minneapolis offices of Lazard and RBC Capital Markets. He began his career in mergers and acquisitions in Frankfurt, Germany, working at BHF Bank, a subsidiary of ING Barings.

Borgman Capital was founded in 2017. The firm’s portfolio currently includes seven businesses across a wide range of industries including telecommunications, manufacturing and food.