- Robin Selati who led consumer moves into senior adviser role
- Nicholas Alexos joins Dentsply Sirona
- Healthcare continues to be led by Tim Sullivan
Two co-founders of Chicago-based Madison Dearborn Partners, Robin Selati and Nicholas Alexos, stepped back from their day-to-day leadership and into other roles, a spokesperson for the firm confirmed for Buyouts.
The departures are coincidental and not part of a larger leadership shift, the spokesperson said.
Selati, who led the consumer investment group, moved into a senior adviser role as the firm moves away from investing in the consumer sector, two sources said. One of the sources described the change as amicable. Going forward, the firm will not have a specific consumer investing team, the spokesperson said.
Madison Dearborn had invested in the consumer sector since its formation, but its focus on the sector tailed off over the past few years. Its website describes its consumer focus as specialty retail, food service, fitness and entertainment, branded and private label consumer, food and beverage manufacturing and distribution, outsourced services and direct marketing.
Some of its consumer investments include LA Fitness International, Topps Co, which makes sports and related cards, Cornerstone Brands and Ruth’s Hospitality Group.
Alexos, who worked on the firm’s healthcare investing team, joined dental equipment maker Dentsply Sirona as executive vice president and chief administrative officer. Alexos served on the board of Sirona Dental Systems before the company merged with Dentsply International in 2015.
The firm’s healthcare investing focus will not change, the spokesperson said. Healthcare is led by Managing Director Tim Sullivan, who is supported by Managing Director Elizabeth Betten and Director Jason Shideler.
Madison’s sectors of focus include basic industry, business and government services, financial and transaction services, healthcare and telecom, media and technology services.
The firm closed its seventh fund on $4.4 billion last year, hitting its hard cap. The firm was formed in 1992 by John Canning, chairman, Paul Finnegan and Samuel Mencoff, co-CEOs, and Managing Directors James Perry, Alexos, Selati and Sullivan.
Update: This story was updated to clarify that Jason Shideler is a director. The report also incorrectly stated that Nick Alexos led the healthcare investing team. Alexos worked on the healthcare team, which is led by Tim Sullivan.
Action Item: Check out Madison Dearborn’s Form ADV here: http://bit.ly/2zlZqCT
Photo of Nicholas Alexos sourced from Madison Dearborn’s website