BOSTON & MENLO PARK, Calif.--(BUSINESS WIRE)--Global growth equity investor Summit Partners today announced the addition of Grant Beard to the firm’s Executive-in-Residence (“EIR”) program. In this role, Beard will work closely with Summit’s Industrial Technology team to identify new investment opportunities in rapidly-growing businesses in the industrial technology sector with a focus on engineered products, specialty packaging, applied materials and automotive sub-sectors.
Mr. Beard brings decades of operating experience, deep industrial sector expertise and an extensive network to Summit’s EIR program. Currently, he serves as Chairman of the Board of Directors of Advanced Energy (NASDAQ: AEIS), a global provider of energy conversion products serving the semiconductor and other processing industries. Most recently, Beard served as Chairman of Wynnchurch Industries and as an advisor to Wynnchurch Capital, a private equity fund focused on industrial companies in lower middle markets, where he reviewed new investment opportunities.
Beard joined Wynnchurch from Wolverine Advanced Materials, a global producer of specialty elastomeric materials that provide noise abatement and sealing capabilities. During his three-year tenure as Chairman and CEO at Wolverine, Beard led the company through a period of strong global growth culminating in Wolverine’s sale to ITT Corporation in 2015.
Beard’s prior CEO experience includes Constar International (NASDAQ: CNST) – a global supplier of rigid plastic packaging products which was sold to Plastipak Corporation in 2013 – and Trimas (NYSE: TRS) – a diversified engineered products business, which Grant led through an initial public offering in 2007.
“We are enthusiastic about this partnership with Grant through Summit’s EIR program,” said Summit Managing Director Jay Pauley. “He’s an extremely talented operator and a strategic thinker with a long history of building market-leading companies and driving growth across various industrial sub-sectors.”
“Upon my first introduction to Summit Partners, two things were clear – they have a deep knowledge of the industry and a long history of building productive, lasting partnerships with entrepreneurs,” said Beard. “I’m eager to get to work as a member of the Summit EIR program, and utilize our combined experiences to source and execute on new opportunities together.”
Summit Managing Director John Carroll added, “We are thrilled to welcome Grant to our EIR program. Summit has been active in the industrial sector for more than three decades, and Grant will add invaluable perspective to our proactive deal sourcing processes. We look forward to partnering with him as we seek new opportunities within the sector.”
Summit’s EIR program is an established and successful element of the firm’s growth-oriented investing strategy. Since its inception in 1999, the program has facilitated collaboration between seasoned industry executives and Summit’s sector teams, working to identify investment opportunities, conduct due diligence, and create and support value creation plans for the companies with which Summit has partnered.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $15 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 460 companies in healthcare, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable industrial companies financed by Summit include Harvey Performance Company, FineLine Technologies, Parts Town, Grand Design and Welltec. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11–12 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.