Linsalata spinout Provariant targets $200 mln for debut fund

  • Gregg Taber forms new shop with several Linsalata executives
  • Was tasked with raising next Linsalata fund last year
  • Invests in niche manufacturing, services businesses

A high-ranking executive from Linsalata Capital Partners who was tasked with raising the firm’s next fund has left and launched his own shop, according to a person with knowledge of the move.

Gregg Taber formed Provariant Equity Partners, which is targeting $200 million for its debut fund, the person said. Taber updated his LinkedIn profile with his new position.

Fund I will target investments in distribution, niche manufacturing and services businesses, the person said. First Avenue is placement agent, the person said.

Taber worked at Linsalata from 2000 to 2018. On his profile he listed his title at Linsalata as senior managing director.

Provariant includes several other executives from Linsalata, including Dan DeSantis, who is a partner. He worked at Linsalata from 2001 to this year, his LinkedIn profile said. Murad Beg joined as a partner, Provariant’s website says. He worked at Linsalata for 10 years, the website said.

Jeff Wahl, who worked at Linsalata from 2014 to this year, also is a partner at Provariant, according to his LinkedIn profile.

Kurtis Zabell also joined as a partner, according to Provariant’s website. He worked at Linsalata from 2003 to 2018, listing his title as vice president – finance and chief compliance officer, according to his profile. Zabell continues to be listed on Linsalata’s website.

Last year, Linsalata announced several executives were leaving and forming a new firm called Watervale Equity Partners. Watervale is led by Mike Faremouth, president and co-founder, Eric Bacon, managing director and co-founder, and Jim Guddy, managing director and co-founder.

At that time, Linsalata said Taber would be leading fundraising for LinCap Partners Fund VII. It’s not clear if Linsalata still plans to raise a new fund with Taber forming his own shop.

Its website shows only four people working there, including Frank Linsalata, who founded the firm in 1984 and is chairman; Stephen Perry, co-president and senior managing director; Eric Bacon, co-president and senior managing director; and Zabell. Bacon also is listed on Watervale’s website and Zabell is included on Provariant’s.

Taber, Perry and Bacon did not respond to requests for comment.

Action Item: Check out Provariant’s website here: http://provariantequity.com/