Ridgemont Equity Partners has promoted Jack Purcell from principal to partner, according to a statement.
Purcell joined Ridgemont in 2002, before it spun out from Bank of America. As a partner, Purcell will continue to focus on the manufacturing, industrial services, and building products and materials sectors. He is based in the firm’s Charlotte, North Carolina headquarters.
Ridgemont also promoted former vice president Kurt Leedy, who will be relocating to the firm’s Dallas office, to principal. Prior to working at BofA, Leedy was a strategy consultant at Bain & Company. He focuses on investments in the telecommunications, media and technology industries.
Ridgemont makes investments of between $25 million and $75 million in sectors including energy, healthcare, industrials, telecommunications and media, according to the firm’s website.
The firm closed its debut fund last year on $735 million after targeting $675 million.
Ridgemont was formed in 2010 as a spin-out by the private equity team of Bank of America Capital Investors. The firm has invested more than $3 billion since 1993.