In the private equity space, the middle-market holds huge profit potential. There are many firms looking for capital, especially in light of the tough credit markets. At the same time, there are company founders who are looking to exit their business and plan for retirement.One of the top private equity players in the middle market is MidOcean Partners. And, this week the scored a big win. That is, they hired Robert Miller as its Chairman.
His career goes back to the late 1960s when he joined Ford (F), where he quickly rose up the ranks. However, it was his stint at Chrysler that proved critical. He helped structure the turnaround of the company.
He then leveraged this experience in other deals, such as the restructurings of Delphi, Bethlehem Steel and Federal-Mogul. In fact, he wrote a book about his experiences, called The Turnaround Kid: What I Learned Rescuing America's Most Troubled Companies
. It's definitely a good read.Clearly, the private equity world is going through transformative changes. And to get strong returns -- and justify hefty fees -- there needs to be a strong operational focus. So with Miller at the helm, MidOcean is definitely positioned nicely for the new opportunities.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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Reader Comments (Page 1 of 1)
12-11-2009 @ 5:20AM
JIM BIMBI said...
Warning to all employees at MidOcean.............WATCH YOUR PENSION!!!!!!!!!!!!! This man is NOT to be trusted. Ask anyone who has worked at any of the previous Company's this man has been in charge of.