Minnesota-based investment bank Cherry Tree & Associates has hired Paul L. Novak as a managing director. Previously, Novak worked at IronRock Capital where he served as senior vice president in charge of private equity investing.
MINNETONKA, Minn., Sept. 25, 2014 /PRNewswire/ — The Cherry Tree Companies announced today that Paul L. Novak has joined the company’s investment banking unit, Cherry Tree & Associates, as a Managing Director.
Mr. Novak will be based at the company’s Carlson Center headquarters, and will strengthen Cherry Tree’s growing sell-side advisory practice in manufacturing, distribution, food, and agribusiness, as well as expand its existing coverage of private equity.
“I couldn’t be happier to be back in the Twin Cities and surrounded by such an impressive group of colleagues as those at Cherry Tree,” Novak stated. “Our growth prospects are tremendous and I am happy to be a key contributor to implementing Cherry Tree’s bright future.”
The move was announced by Gordon Stofer, President and Managing Partner of Cherry Tree & Associates.
“We are really pleased that Paul has joined us. He brings a tremendous skill set in that he has been both a seller and buyer of middle-market companies. In his career he consummated over $10 billion of transactions and has had board of director’s responsibilities for 10 companies. Additionally, Paul has deep family roots and relationships in Minnesota, so we expect to work with him for many years to come.”
Until last August, Paul was the senior vice president in charge of private equity investing for IronRock Capital Partners, a private equity fund based in St. Louis, Missouri. Prior to joining IronRock, Paul was a vice president and partner with Capital For Business, a St. Louis, Missouri based private equity fund, and a vice president with Goldsmith Agio Helms/Lazard Middle Market, a sell-side mergers and acquisitions advisory firm based in Minneapolis, Minnesota.
For 34 years the Cherry Tree Companies, founded by Tony Christianson and Gordon Stofer, have served middle market companies with a variety of highly targeted professional services.
Cherry Tree & Associates is Minnesota’s eighth-largest broker-dealer investment bank providing strategic and M&A advisory services to middle-market firms. Its private placement team works with dynamic management teams and boards of directors to attract growth and expansion capital. It also provides fairness opinions and other valuation services. The investment bank’s senior professionals have strong records of M&A achievement as investment bankers, presidents and CEOs of operating companies, and leaders in corporate M&A.
More information about the Cherry Tree Companies is available at www.cherrytree.com.