BETHESDA, Md.--(BUSINESS WIRE)--IMB Partners (“IMB”), a leading middle market private equity firm specializing in the utilities and industrial services and government contracting, IT, cybersecurity and food supply sectors, today announced a series of recent promotions and hires.
Maurice Markey and Leo Sniger have been elevated to Operating Partners, where they will provide strategic and operational support to two of the firm’s investment platforms: the food and the utilities and industrial services divisions. IMB created Operating Partner positions to recognize the significant contributions of leaders with sector expertise who are well equipped to enhance the firm’s investments.
Markey will become an Operating Partner in the firm’s food services platform, which currently includes active investments in Alder Foods and Elite Brands, nationally recognized food suppliers to the Defense Commissary Agency (“DeCA”), and Richmond Wholesale Meat Company, a leading global food manufacturer serving the U.S. Military. Sniger will continue his work with IMB, moving to an Operating Partner with the firm’s utilities and industrial services division. Today’s announcement underscores the bonds that IMB cultivates in its relationships with its portfolio companies.
“We are thrilled to bring on and elevate talent at IMB, especially among those who have been closely involved with our operations and portfolio companies for years,” said Tarrus Richardson, Founder and CEO of IMB Partners. “As our firm continues to grow, we are confident in their ability to guide our portfolio companies with the invaluable insight and experience they bring.”
Maurice Markey brings to IMB over two decades of experience as an executive leader, board director and education advocate in both the public and private sectors, including a strong track record of elevating the brands of some of the world’s top food, retail and healthcare companies to demonstrable financial results. He also serves as a board director for Alder Foods, an operating company of IMB since 2016. Markey began his career holding several positions of senior leadership in the U.S. and Asia with Kraft Foods, before moving on to leadership roles at Walmart’s Sam’s Club, Eli Lilly and consulting services firm Windfarm. Markey was previously the Vice President, Head of Strategy and Corporate Communications for Designer Brands, one of North America’s largest retailers of footwear.
Joining Markey as an Operating Partner is Leo Sniger, President and CEO at Energy Services Holdings, a leading provider of electrical and instrumentation services to the energy infrastructure market. Sniger has concurrently served as a special advisor to IMB since 2020. Sniger works alongside the IMB team to offer strategic and operational support, bringing with him over 45 years of construction, project management and operations expertise across the utility, power and transportation markets. After beginning his career in the heavy civil construction market, Sniger held leadership roles in industrial services across the country, including serving as Director of Operations at Jacobs, where he was responsible for the direction of construction operations throughout the US.
Rich Beaty joins IMB as a Managing Director, where he will support fundraising and business development efforts. Lamar Warren has been promoted to Director, where he will continue his work leading deal execution. The announcement follows IMB’s recent strategic investment in Carr & Duff, a southeastern Pennsylvania corporation providing specialty electrical construction services, its second investment on the utility platform.
Rich Beaty is a highly experienced debt capital markets professional with over two decades of experience in commercial lending, loan syndications, business development and credit risk management. He comes to IMB from S&T Bank, where he served as Senior Vice President and Head of Commercial & Industrial Lending for three years, managing lending and cross-sell activities for middle market companies.
Lamar Warren joined IMB as a Vice President in 2021, consistently spearheading deal execution efforts and working to move the firm forward. Before joining IMB, Warren spent over a decade in venture capital, private equity, investment banking and engineering, with positions at Lockheed Martin Ventures, KKR Capital Markets and Evercore.
Over the last eight years, IMB has grown to over $930 million in revenue via eight acquisitions and one start up. IMB sets itself apart through its differentiated value creation process and emphasis on valuing partnership and people first, believing diversity and inclusion requires intentionality and maintaining an entrepreneurial approach in all dealings.
About IMB Partners:
Founded in 2010, IMB is a private equity firm focused on investing and partnering with management teams to grow lower middle market companies serving government agencies and electric and gas utilities. IMB believes that diversity is an asset and takes an entrepreneurial approach to building companies of scale. IMB seeks platform investment targets with $5-$25 million in EBITDA and will go as low as $1 million in EBITDA for add-on investments. Learn more at imbpartners.com or connect with us on LinkedIn.