Industrial Case Study: A Private Equity Firm in Discussion with a Portfolio Company, The Deal Journey

Steve Cook, Executive Managing Director with LFM Capital, walks participants through LFM’s investment and sale of EDSCO Fasteners. LFM acquired EDSCO in 2017 and sold three years later to MiddleGround Capital, marking the firm’s first exit from LFM’s inaugural fund.

SPEAKERS:

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Steve Cook co-founded LFM Capital and brings to the Fund over 23 years of operating experience, having served in a variety of senior executive and functional roles in manufacturing, supply chain, engineering, technology and sales.

Prior to founding LFM, Steve was a Principal with TVV Capital (2010-2014), where he directed portfolio value creation efforts of six portfolio investments, with a focus on operating improvements, management recruiting, leadership development training and performance. Steve also helped to identify investments and served in a leading role on deal negotiations. He has served on the boards of four TVV portfolio companies: INDCO, Critical Solutions International, Big 3 Precision Products, and Bigham Brothers.

Prior to joining TVV, Steve was Chief Operating Officer of MFG.com (2009-2010), the world’s largest global online marketplace for the manufacturing industry where he directed all functions, excluding finance and HR, for a global six-office (U.S., Asia, Europe), 250-employee, fast-growing company.

Prior to MFG, Steve spent 11 years as a Southeastern regional Senior Director with The Dell Corporation (1998-2009) serving in a range of executive roles that included: GM Dell Nashville Consumer Business and Nashville Site lead, Director of Manufacturing for Dell’s Nashville Campus,  and, Director of Dell’s Supply Chain Engineering and Demand/Supply balancing.

Prior to joining Dell, Steve served as a Lieutenant in the United States Navy (1989-1996), where he flew combat missions in support of Desert Shield and was selected to participate in test squadron flying test missions in all Navy/Marine Corps aircraft.

Steve currently serves as the Chairman of Vektek, PSI and Heartland and also serves on the boards of Eckhart, Pratt, Fecon, ShopSabre, J&E, and Medix, all LFM portfolio companies.

Steve received a BS in Electrical Engineering from the United States Naval Academy and his MS in Electrical Engineering from MIT’s School of Engineering and his MBA from the MIT Sloan School of Management where he graduated first in his class. He has served for over 19 years as a member of MIT’s Leaders for Global Operations Operating Committee where he speaks to classes annually on executive leadership and career management.

 

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Wendy Buxton joined LynnCo in 2002 as the CIO, leading the development of a then robust, web-hosted software package. Since her appointment as President, Ms. Buxton successfully enhanced LynnCo's supply chain service and consultative offerings to encompass full supply chain strategic guidance. In 2015, LynnCo ownership and the executive team became firmly entrenched in the private equity market, becoming the marquee trusted advisor for supply chain value creation. 

As an executive level strategist, Ms. Buxton has an established reputation in diverse industries for excelling growth of organizations. Globally known as a thought leadership expert, she speaks in various venues on providing strategic and operational supply chain solutions that radically leapfrog conventional options. A member of the Council of Supply Chain Management Professionals, APICS, and several women-owned and minority-owned diversity councils throughout the U.S., she has recently received awards as Women of Distinction, Most Admired CEO, and Top 10 Women in Logistics as well as Most Innovative Supply Chain Management Solutions and Top 10 Big Data Companies.

Richard Butler joined EDSCO in 2014 as CFO to manage all accounting and finance functions. In January of 2017 was promoted to Executive Vice President, with responsibilities for all functions at EDSCO other than sales and marketing. In October 2017 promoted to current position of President and CEO. I have extensive experience in steel, galvanizing, industrial manufacturing with a primary focus on Electrical generation, transmission and distribution. Prior to joining EDSCO I spent 22 years in roles of increasing responsibility within AZZ, Inc., ending my tenure as Chief Accounting Officer for ten years and managed all facets of accounting responsibility including SEC reporting, system integrations , with a high involvement in planning and executing acquisitions. Bachelor of Business Administration in accounting and a Masters of Business of Administration from Texas Christian University.