Snow Phipps Group, a lower-middle market private equity firm, has named Gary Spitz as managing director of financial operations. Previously, Spitz worked at Coriant where he was chief financial officer.
NEW YORK, May 3, 2018 /PRNewswire/ — Snow Phipps Group (“Snow Phipps”) is pleased to announce that veteran CFO Gary Spitz has joined as Managing Director, Financial Operations. In this role, Mr. Spitz will provide senior level support to portfolio companies and their management teams aimed at improving financial performance and conduct operational due diligence of new Snow Phipps investment opportunities. This is a new position at Snow Phipps.
Ian Snow, CEO and Partner of Snow Phipps Group, said, “Gary will significantly enhance our ability to work with portfolio companies to create value for our investors. I have worked with him as portfolio company CFO on two successful investments, one in our first Snow Phipps fund and the second when I was previously at Ripplewood Holdings. Gary’s expertise and insight will be invaluable in working with CFOs across our portfolio to implement best practices in finance, taxation, accounting and controls. We welcome him to the firm.”
Mr. Spitz noted, “I enjoyed working with Snow Phipps when I was CFO of FiberVisions, and I am thrilled to have the opportunity to join their team. I am confident that my 30+ years of experience working in private equity-backed and public companies will be an attractive resource for Snow Phipps portfolio companies. I look forward to helping the CFOs and their teams strengthen their finance and accounting functions and systems during Snow Phipps’s ownership.”
Mr. Spitz joins Snow Phipps from Coriant, a private equity-backed leading supplier of optical network equipment to telecommunications companies, cloud computing and data center operators and Web 2.0 content providers. Mr. Spitz was the Chief Financial Officer at Coriant where he was responsible for leading all aspects of global financial services, including accounting, treasury, audit, financial planning and analysis and risk management. Previously, Mr. Spitz was CFO of FiberVisions, a Snow Phipps-backed global manufacturer of polypropylene fibers that was “carved out” of the Hercules Chemical Company and later sold to Indorama Ventures Limited. Before joining FiberVisions, he was corporate vice president and CFO of Kraton Polymers LLC, a $1 billion global manufacturer of engineered materials that was backed by Ripplewood Holdings in a spin-out from Shell Oil Company.
Earlier, Mr. Spitz held executive and CFO positions at several other companies, including Sterling Chemical Company and the Grace Davidson Division of W.R. Grace & Company. He holds an M.B.A. from the University of Michigan and a BA from the University of Vermont.
About Snow Phipps Group
Snow Phipps is a private equity firm focused on lower middle-market control investments with $2.4 billion of total capital commitments raised since its founding in 2005. The firm generally focuses on companies in attractive sub-sectors across the Industrials, Services and Consumer industries and targets platform investments with enterprise values ranging from $100 million to $500 million. The Snow Phipps investment team collaborates with its Operating Partners and portfolio management teams to create value through an operationally focused strategy often led by organic or acquisition-driven growth. Snow Phipps has made 23 platform investments and over 45 add-on acquisitions. The firm has been investing Snow Phipps III, L.P., with $913 million of total commitments, since 2016. To learn more about Snow Phipps, visit www.snowphipps.com.