March 17, 2009
Prophet Equity Adds Capital, Expands Team to Acquire Underperforming Companies
Southlake, TX - - March 17, 2009 - Prophet Equity LLC, a private equity firm, and its affiliates, that makes control investments in strategically strong, asset-intensive, underperforming companies in the lower and middle market, formally announced it substantially increased its institutional pool of capital for making control equity investments.
Ross Gatlin, CEO and Managing Partner commented, "With a billion dollars of purchasing power for control equity investments in target companies, Prophet Equity is well equipped to support dramatic value creation in companies not only with the necessary equity capital, but also with our demonstrated strategic and operational know-how. Our professionals and our methods for dramatically improving the performance of strategically strong, but underperforming firms in lower and middle markets are second to none."
The recent addition of three professionals to the Prophet Equity team provides additional bandwidth for deal making, while continuing to support portfolio company management teams in the implementation of Value Creation Plans post-close.
One of the new team members, Ben Eakes, formerly a Principal with another Texas-based private equity firm focused on lower and middle market control equity transactions, was also a former colleague of Gatlin from Bain & Company's Dallas office. Eakes, now a Vice President at Prophet, will assist with the sourcing, screening, structuring, and closing of new transactions.
"Ben's toolkit from Bain, his prior work experience with the senior Prophet team, and his lower middle market buyout experience are a perfect fit with our growing team and our compelling value driven strategy", commented Ross Gatlin.
Michael Hirschfeld, Financial Analyst, will continue the work he began in his successful internship with Prophet during the summer of 2008, supporting both financial and strategic modeling around target acquisitions. Barb Levis, a new Research Analyst at Prophet, leverages over a decade of consulting know-how with both Accenture and Deloitte to help conduct due diligence and research activities.
Certain statements in this press release including, but not limited to, statements as to the opinions of the Prophet Equity team and benefits and results of work are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. The forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Prophet Equity disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. The historical values cited here are unaudited. CopyrightŪ 2009 Prophet Equity. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated. Note to editors: If you are interested in viewing additional information on Prophet Equity, please visit the Prophet Equity website at http://www.prophetequity.com or call +1.817.898.1500.
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