Cleveland, Ohio-based middle market firm Morgenthaler has announced the hire of Al Stanley and Daniel Farrar in its buyouts division.
Both Stanley and Farrar join Morgenthaler after having served as high-ranking executives at General Electric.
Stanley most recently served as president and chief executive officer of GE’s Global Life and Health Reinsurance division, and served president and CEO of GE’s Mexico operations prior to that. He worked for GE for eight years.
Farrar most recently served as president and CEO of GE Fleet Services for all of Europe. He was with GE for 16 years.
Back in March, Morgenthaler announced the recapitalisation of rePipe, which provides underground construction and pipe rehabilitation services to municipalities, utility districts, government agencies and other organizations. Terms of the deal were not disclosed, though Morgenthaler’s press statement set the transaction value between $50 million (€41 million) and $250 million (€205 million).
At the same time, Morgenthaler also announced the promotion of Simon Feiglin to principal from senior associate.
Founded in 1968, Morgenthaler Partners has a middle-market buyout business based in Cleveland, Ohio, and a venture capital group in Menlo Park, California. Morgenthaler manages a total of $2 billion in capital. In July 2001, the firm closed an $850 million fund aimed at both buyout and venture capital investments.