- Robert Martin co-founded Excellere in 2006
- Denver firm spun out from KRG
- Third fund closed in 2015
Excellere Partners Co-Managing Partner David Kessenich is now the firm’s principal owner following the recent death of the Denver PE shop’s other co-founder, Robert A. Martin, a recent SEC filing shows.
Martin, who co-founded the KRG Capital Partners spinout in 2006, passed away Sept. 12, according to a Form ADV. Martin was 69, an obituary states. The cause of death wasn’t disclosed.
The private equity executive formed Excellere with Kessenich, who also left KRG, as well as Managing Partners Matthew Hicks and Ryan Heckman. Heckman left Excellere in February 2014 to explore other opportunities and today is president of Cortec Group’s ICON Eyecare.
Kessenich didn’t respond to a request for comment.
Martin has held various directorships over the years, most recently serving on the board of Excellere-backed Advanced Infusion Solutions, ASI Government, Integrated Petroleum Technologies, DentMall, TrialCard and Mentis Neuro Rehabilitation.
Before launching Excellere as a co-managing partner, Martin served as a senior investment professional at KRG, a middle-market PE firm based in Denver.
Martin previously spent 11 years with Geneva Corporate Finance, where he most recently served as president before it was sold to Citigroup. Martin worked on some 200 entrepreneurial sell-side engagements in that period, his bio on the Excellere website says.
Martin graduated from Hofstra University in 1970, earning a BS degree in accounting and finance.
Excellere has added to its team over the past few years, bringing in Michael Geldart in November 2015 as a partner. Geldart in the past held the COO post at healthcare companies including BioTelemetry, MedExpress and CCS Medical.
In February 2016, Excellere hired Ross Gundry as vice president and Parker Schabel as an analyst.
The firm typically partners with entrepreneurs, investing in lower-middle-market companies in the business services, healthcare, energy products and services and industrial sectors.
Excellere raised its third fund in August 2015, reportedly closing at $625 million. Fund I closed on $265 million in 2007 and Fund II closed on $465 million in late 2010.
Action Item: The Excellere team: www.excellerepartners.com/background/people.php
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