DLJ Merchant Banking Partners has opened an office in Troy, Michigan to focus on the Midwest industrial services sector.
The New York-based private equity arm of Credit Suisse said in a statement John Janitz and Dominick Schiano would be based in the office. The pair were part of DLJ’s $440 million (€282 million) acquisition of specialty manufacturer RathGibson from Castle Harlan last year.
“The concentration of opportunities in the industrial sector in the Midwest and throughout the mid-section of the country makes opening this office a natural step for DLJMB,” said Janitz.
DLJ said it would focus on mid-market “control investments” of up to $200 million. Schiano added: “We believe that adding a hub in the Midwest from which to source transactions and manage portfolio company growth will significantly benefit DLJ’s business.”