Halifax Group promotes three to partner

With the promotions, the Washington DC-based private equity firm is grooming the next generation of partners, according to Halifax co-founder David Dupree.

Halifax Group promoted three longtime employees, Scott Van Duinen, Scott Plumridge, and Chris Cathcart, to partners and members of the firm's investment committee, according to a statement from the firm.

David Dupree, co-founder of Halifax and a senior partner, told Private Equity International that one of the reasons for the new promotions is to bring the next generation of partners at the firm up to speed. Dupree, along with Michael Marshall, chief financial officer of Halifax, and managing directors Kenneth Doyle and Brent Williams, have been partners at Halifax for 17 years, he said.

“It's important to signal to the investment community that continuity is important to us and that we want to reward the people who have worked for us for 10 years,” said Dupree.

Van Duinen has been at Halifax since 2004 and works on origination, evaluation, execution and monitoring of investments. He is currently also chairman of industrial service provider K2 Industrial Services, a Halifax portfolio company, and a board member of Envision Pharma Group along with Dupree.

UK-based Envision Pharma Group is a medical and scientific communications company providing services to the pharmaceutical and biotechnology industries, in which Halifax has been invested in since 2013.

Plumridge joined Halifax in 2005 and assists in sourcing, evaluation, execution and monitoring of portfolio investments. He is on the board of two Halifax portfolio companies: government services company XLA and hydraulic solutions provider Pirtek Europe.

Cathcart joined Halifax in 2007 and leads the firm's business development program. His duties have included the development and continued evolution of the firm's proprietary origination program, deal underwriting and tracking system, and oversight of investor relations.

Halifax Capital Partners III, which closed on $393 million in late 2012, above its $350 million target, is the firm's latest vehicle, according to PEI Research and Analytics. Current portfolio companies also include, California-based overnight delivery company Golden State Overnight and provider of environmental services to the oil industry US Environmental Services.

Halifax currently has eight portfolio companies under management. Dupree said that it has also recently acquired a new portfolio company in the dental industry.

Halifax, which has $900 million in assets under management, invests in small and mid-sized businesses across a variety of industries, including healthcare and wellness, business and government services, and infrastructure services. The Washington DC-based firm also has offices in Dallas and Raleigh, North Carolina.

Prior to founding Halifax in 1999, Dupree was a managing director and partner with The Caryle Group, where he was primarily responsible for investments in health, wellness and related sectors