Turnaround specialist Sun Capital Partners has promoted five principals to managing directors after a busy year that has seen it complete 31 acquisitions.
Paul Daccus, Scott Edwards, Anthony Polazzi, Brian Urbanek and Aaron Wolfe all work on the investment team at Sun, which is expecting to close another three to four before deals the end of the year. Daccus and Urbanek work for Sun European Partners, the London-based European adviser to Sun Capital. Edwards and Polazzi are based in the firm’s Florida headquarters. Wolfe works in Sun’s New York office.
Prior to joining Sun European Partners in 2005, Daccus was a director on corporate finance teams at consulting firm Deloitte & Touche and accounting firm Arthur Andersen. Edwards, who also joined in 2005, was previously a principal at Henderson Private Capital in London and an associate GE Equity and Advent International. Polazzi joined Sun in 2003, prior to which he was an associate in the leveraged finance group of CIBC World Markets. Urbanek joined in 2006 and previously was a vice president in the Investment Banking Group at Stephens. Wolfe has worked at Sun for more than a decade and came from boutique investment bank Harris Williams.
Sun Capital’s senior management team now includes 22 managing directors, with 11 on the operations team, nine on the investment team and two responsible for corporate infrastructure. The firm has 170 employees across all of its offices, having added roughly 15 new professionals in 2011 and ten in 2010, Sun Capital co-chief executive officer Marc Leder told Private Equity International.
“We had another outstanding year,” Leder said. “All of our funds aggregated were up double digits through the first three quarters of the year, we completed over $4 billion of financings…and we’ve returned over $700m of capital to our LPs.”
This fall, Sun hired its first digital media expert, Bob Steelhammer, to advise on digital media, marketing and ecommerce investments. The firm also hired two managing directors on its operations team this year, both of whom were formerly CEOs of Sun Capital portfolio companies.