The appointments enhance a wide range of tools the buyout firm uses to expand revenues and profits at portfolio companies.
NEW YORK–(BUSINESS WIRE)–Operationally-focused buyout firm, Ronin Equity Partners, announces the appointment of two associates and one analyst as part of a continued expansion that has seen staffing increase 66 percent in the past year.
As an Associate/Director of Operations, Rashaad Clavon will exclusively embed within portfolio companies – typically for periods of six months to eighteen months – partnering with management teams on a daily basis, contributing to growth and reinvestment programs through the use of highly detailed reporting processes and best-in-class back office systems. Before joining Ronin, Clavon was a Strategy Manager on the Supply Chain Finance team at Campbell’s Soup in the Snacks division. There he played major roles in process improvement, margin improvement, and financial visibility initiatives. Clavon earned his B.S. in Accounting from Clemson University and is a Certified Public Accountant with 11 years of industry experience. He’s also held financial positions at packaging group Novolex and Fresenius Medical Care.
As an Associate, Patrick Merrick will play a key role evaluating and executing transactions. Like all Ronin executives, he will periodically rotate into senior operational roles at portfolio companies. Merrick was previously at private equity firm Riveria Investment Group, where he contributed significantly to the successful due diligence of potential investments and the vetting of portfolio company add-ons. Merrick earned his B.S. in Finance and Economics from The New York University Leonard N. Stern School of Business. He’s also worked as an investment banker at Credit Agricole and Standard Chartered Bank.
As a Senior Financial Analyst, Davis Hein, will be responsible for financial analysis and performance monitoring, helping to drive operational efficiencies and financial performance across Ronin’s portfolio companies. He will also plug into portfolio company roles as needed. Hein was previously a financial and operations analyst at Greystar, which manages and operates real estate worth some $230 billion across 215 global markets. Hein earned a B.S. in in Business Administration & Management, Finance & Marketing from The University of Memphis. He began his career five years ago at Greystar.
Ronin’s ongoing recruitment program includes three more hires planned for later this year (last October’s hiring of Associate Elliott Rogasik – formerly at BlackRock – kicked off the expansion program). “Our long-term talent expansion has one purpose – maximizing the effectiveness of the tools we’ve long relied on to build investment value,” says Managing Partner, David Feierstein. “We’re building on a winning formula.”
Those tools include multiple, proprietary, IT-based plug-and-play systems that streamline back office functions, bringing clarity to portfolio company operations and freeing up time and capital so that managers can do what they do best (focusing on developing and accelerating commercial growth); a 75-strong, C-suite Operating Advisor network of unrivalled size and breadth that sources transactions and advises on strategy and tactics, frequently forming a majority of the board at portfolio companies; and systematic operational rotations of Ronin staff, typically for periods of six months to eighteen months, into portfolio companies. Embedded Ronin executives focus on finance, human resources, IT, legal affairs, communications, procurement and sales operations, helping to create realistic and highly efficient road maps for revenue, profit and margin growth. Currently, seven Ronin executives are embedded into three of the firm’s platform companies.
“Ronin’s innovative and disciplined leveraging of resources – human and otherwise – allows it to punch well above its weight,” says Matt Swain, Global CEO of private equity advisor Triago. “No team this size in private investment comes close to Ronin’s pace of dealmaking and successful corporate transformation.” Triago has acted as the sole placement agent on all of Ronin’s platform investments.
Since the first quarter of 2021, when it began investing capital, Ronin and its investors have deployed, or reserved for follow-on portfolio investment, in excess of $350 million. The capital was committed to five platform investments, comprising a total of 20 companies. Since deal close – i.e., in all cases less than two years – annualized earnings before interest, taxes, depreciation and amortization at Ronin’s platform companies has risen 36 percent to $104 million. Ronin expects to announce its fifth platform investment involving the simultaneous merger of six companies later this fall. “Simultaneous, efficient mergers of multiple companies in fragmented consumer and industrial sectors are a specialty of Ronin’s,” notes Swain. “Their deals are designed to create value for investors from day one.”
About Ronin Equity Partners
Based in New York City, Ronin Equity Partners represents a new type of investment firm, powered by an operationally-focused value creation strategy. Ronin makes control equity investments exclusively in the Industrial and Consumer sectors, where the team has prior expertise. The group buys strong businesses with high demonstrated cash flows, where Ronin’s operating playbook adds value. The Ronin team embeds into each company as interim senior executives to build a robust back-office infrastructure capable of scaling the business for growth and seamlessly integrating acquisitions. This partnership empowers management to focus entirely on growing the business without being burdened by back-office operations. The firm was founded in 2019 by Managing Partners David Feierstein and Jesse Yao alongside other former senior executives from Kraft Heinz, NCR, and Diversey. The firm is supported by some 75 operating advisors in the consumer and industrials sectors. www.roninequitypartners.com
David Lanchner, [email protected], +33 (0)6 3343-5076