CHICAGO--(BUSINESS WIRE)--Chicago-based Sterling Partners, a leading private equity firm focused on investing growth capital in middle-market companies in the healthcare services and business services industries, announced today the promotions of Kim Vender Moffat and Michael Drai from Principal to Managing Director.
Kim initially joined Sterling Partners in 1999 and is a member of the investment team with a focus on the healthcare services sector. Throughout her tenure at Sterling, Kim has held leadership positions and made material contributions to firm strategy, including leading two fundraising efforts totaling over $1.2B in raised capital. She is currently a member of the board of Surgical Solutions, was previously a board member of Platinum Dermatology Partners, and was heavily involved in Sterling’s investments in Q-Centrix, Centerre Healthcare and SterilMed. Kim left the firm to attend graduate school and then worked as a management consultant at McKinsey & Co. before returning to Sterling in 2008. She received an AB from Harvard University, as well as an MBA from Kellogg School of Management and a JD from Northwestern University School of Law.
“Since Kim joined the firm, she has been a significant contributor to Sterling’s growth and success,” said Garrick Rice, Managing Director at Sterling Partners. “Her ability to form meaningful partnerships with investors, founders and management, her thoughtful insight and unique style, and now her leadership as part of the healthcare services team, provides tremendous value to both the firm itself and everyone who works with her,” added Danny Rosenberg, Sterling Managing Director.
Michael joined Sterling in 2008 and has been integral in the development of Sterling’s business services practice, including identification and due diligence of prospective acquisitions and management and oversight of the active portfolio. He is currently a member of the board of Brace Industrial Group, Hoffman Southwest Corporation and Spartan College of Aeronautics and Technology, and was previously a board member of Desert NDT, GEM Mobile Treatment Services and Cornerstone Records Management. Prior to Sterling, Michael worked at GTCR, Allen & Company and Salomon Smith Barney. He received a BS in Finance from the University of Illinois and an MBA from Kellogg School of Management.
“At Sterling, we look for professionals who are differentiated, proven and committed to growth. Michael is the embodiment of that,” said Alan Macksey, Sterling Managing Director. “Michael has been central to influencing our investments in the middle-market business services sector, particularly in honing our focus on industrial, energy and maintenance services. In his new and well-deserved role, we will continue to lean heavily on Michael to position Sterling for growth and long-term success.”
“Michael and Kim are prime examples of people whose talent, passion and commitment drive inspiration and success to Sterling and our portfolio companies,” said Sterling Managing Director Steven Taslitz. “We know they will continue to build on past successes as we partner with founders and mission-driven businesses focused on delivering healthcare and business services solutions to patients, providers, clients and customers.”
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. Founded in 1983, Sterling has invested billions of dollars, guided by the company's stated purpose: INSPIRED GROWTH®, which describes Sterling's approach to investing in differentiated businesses and growing them in inspired ways. Sterling focuses on investing growth capital in middle-market companies in the healthcare services and business services industries. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success. For more information, visit: www.sterlingpartners.com.