New Firm Launches in Chicago

Geneva Glen Capital LLC is officially launching today.

Led by Adam Schecter and Jeff Gonyo, who were former executives with WHI Capital Partners and Wind Point Partners, respectively, Geneva Glen will invest as much as $40 million in companies generating $3 million to $20 million in EBITDA; sectors of interest include as business services, consumer services, consumer products, food and niche manufacturing. Buyouts first broke the news about the firm earlier this month as part of a wider story on spin-outs.

Besides personal investments from Schecter and Gonyo, Geneva Glen’s sole investor is Wanxiang America Corp., the Elgin, Ill.-based affiliate of Wanxiang Group Corp., the $10 billion Chinese automotive parts supplier. For more info on Geneva Glen and the pros/cons of the captive fund model, subscribers can see the profile of Geneva Glen in the 9/20 issue of Buyouts.