GenNx360 Capital Partners has closed its debut fund with more than $500 million in capital commitments. The New York-based firm plans to focus on underperforming B2B industrial companies with between $250 million and $1 billion in revenue. Its general partners are: Lloyd Trotter, who will retire next month as vice chairman of General Electric; Arthur Harper, former president and CEO of GE Equipment Services; and Ronald Blaylock, founder of Blaylock & Company.
GenNx360 Capital Partners, a private equity firm launched by top executives from GE and Wall Street, announced today that it has closed its first fund with more than $500 million in commitments.
GenNx360's general partners are:
* Lloyd Trotter, 62, who will retire next month as vice chairman of GE after nearly 40 years at the company. According to former GE chief executive Jack Welch, the Trotter Matrix — a performance measurement tool Mr. Trotter pioneered — never failed to generate “a significant improvement” in performance.
* Arthur Harper, 52, who most recently was president & CEO of GE Equipment Services, a $6.5 billion global business. In this capacity, Mr. Harper was responsible for a portfolio of seven global businesses with operations in approximately 20 countries. Mr. Harper also was a member of the GE Capital board and a member of GE's Corporate Executive Council.
* Ronald Blaylock, 47, founded and managed Blaylock & Co., a highly successful investment banking boutique, and has served as an advisor to numerous Fortune 500 executives on merger-related and capital market financings. Mr. Blaylock announced the sale of his company last year to Robert Van Securities and is non-executive chairman of the new investment banking entity.
GenNx360 will focus on underperforming industrial business-to-business companies with $250 million to $1 billion in revenues. The firm's partners have more than 100 years of global operating experience and have lined up a network of senior executives from various Fortune 100 companies who have agreed to oversee and manage some of the firm's portfolio companies.
“Our goal is to create value in our portfolio companies by enhancing their productivity, expanding their businesses, and when necessary, restructuring their balance sheets,” Mr. Harper said. “Our portfolio companies will emerge financially stronger and considerably more competitive.”
GenNx360's target industries will include industrial water treatment, specialty chemicals and engineered materials, industrial machinery and equipment components, global transportation component parts and services, industrial security services, and business services.
About GenNx360 Capital Partners
New York-based GenNx360 Capital Partners is committed to delivering superior returns to investors in all its portfolio companies. The firm acquires companies with proven and sustainable business models in expanding industries and implements the required operating changes to deliver cost efficiencies and grow reinvestment opportunities. The firm's proven business methodology is based on more than 100 years of partner experience successfully running global businesses. For more information visit, www.gennx360.com .