First Atlantic hires mid-market veteran

The New York firm announced that Thomas Berglund, formerly of Jupiter Partners, has joined the team as a managing director.

New York-based middle market specialist First Atlantic Capital announced the hire of Thomas Berglund as managing director.

Berglund private equity and consulting background includes his most recent stint as a partner at mid-market firm Jupiter Partners, which he joined in 1994, as well as serving as manager at Boston Consulting Group. First Atlantic investment team members generally hold a mix of management consulting and operating experience, according to a statement.

Back in March, the firm agreed to a secondary purchase of Prestolite Electric, a global manufacturer and distributor of alternators and starter motors, from San Francisco private equity group Genstar Capital.

First Atlantic Capital was founded in 1989 and acquires both public and private companies in the middle market, with investments ranging between $100 million and $300 million. In 2000, the fund closed Atlantic Equity Partners III on $400 million. The firm usually looks for companies in the manufacturing, specialty distribution and specialty retail markets. Its portfolio includes packaging company Ranpak and golf equipment specialist Golfsmith.