TowerBrook Capital Partners is teaming with advisory and co-investment firm Evergreen Capital Partners to explore opportunities in sectors including clean technology, aerospace and defense.
The firm, based in New York and London, is working with Evergreen’s professionals to source deals and work with management teams in portfolio companies. Evergreen started working with TowerBrook earlier this month. The firm was founded and is run by Dominick Schiano and John Janitz.
Evergreen will help source deals, and part of its job will be to help ease management teams into working with private equity to improve operations and grow, Schiano told PEO in an interview.
“We’ve sat in the same chairs they are sitting in, we can relate to them, we know their daily problems,” Schiano said. “We’re not just some Harvard graduate coming out of New York, we’re guys with a little gray hair, there’s a little more age on us. We try to act like mentors to these teams.”
Evergreen doesn’t simply suggest deals, Schiano said, but also co-invests along side its partner firm in the deals it sources. The firm makes investments from Schiano’s and Janitz’s own pocket.
“It shows we have skin in the game,” Schiano said.
TowerBrook has four investments in the industrial sector, including Pack2Pack, a Belgium-based involved in the recycling and distribution of steel drums; GSE, which supplies facilities for logistics and distribution companies; Autodistribution, which distributes spare parts for cars and trucks in Europe, and Monier, which provides building materials for pitched roofs.
TowerBrook has about $5 billion of capital under management. The firm, which focuses on various control strategies, including turnarounds and growth investments, has offices in New York, London and San Francisco, and focuses on investments in North America and Europe.