New Private Equity Firm Fires Up In Indy

Posted: Updated:
(Images of Bob Erwin and Glenn Scolnik courtesy of Monument MicroCap Partners.) (Images of Bob Erwin and Glenn Scolnik courtesy of Monument MicroCap Partners.)
INDIANAPOLIS -

A team with previous connections to Indianapolis-based Hammond, Kennedy, Whitney & Co. Inc. has launched a private equity firm. Monument MicroCap Partners LLC, which will also be headquartered in Indianapolis, will be led by Chief Executive Officer Bob Erwin. He previously served as managing director of the global private finance unit of Barings LLC.

The leadership team of MMP also includes:

  • Chairman and Managing Partner Glenn Scolnik, who previously served as chairman, CEO and president of HKW.
  • Partner Roy Whitney, who was with HKW for nearly 30 years and served as its CEO and chairman until 1999.
  • Partner Rob Troxel, who previously served as CEO of Nesco LLC, a former HWK portfolio company.
  • Partner Jim Futterknecht, former operating partner at HKW.

Erwin said "at Monument MicroCap Partners, we don't call ourselves 'buyers' or 'acquirers.' Instead, we consider ourselves in partnership with managers and business owners. We understand our role as good stewards of the businesses that have been so carefully and painstakingly created by families and entrepreneurs. MMP's mission is to partner with honest and hard-working management teams to build great businesses, and if and when needed, we will provide expertise and strategic guidance in fulfillment of that goal."

MMP says it will target American and Canadian companies that are "historically profitable," have "strong market positions" and "talented, hardworking management teams" and earnings before interest, taxes, depreciation, and amortization of between $1 million and $5 million.

You can connect to more about the new venture by clicking here.

  • Perspectives

    • The First Thing Nonprofit Boards Should Focus On: Member Engagement

      There is no shortage of literature on how to run a nonprofit and what the board of directors should be doing. Do a quick search for “grant writing advice” or “board meeting agenda” and you will easily find hundreds of resources. But if there is so much helpful information around, why is serving on a nonprofit board sometimes so draining? After founding two nonprofits, Musical Family Tree and the Speak Easy, as well as serving on several nonprofit boards...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years. 

    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • Elanco is headquartered in Greenfield.

      Elanco to Acquire Bayer AG Animal Health Business

      Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has entered into an agreement with Bayer AG (ETR: BAYN) to acquire its animal health business in a deal valued at $7.6 billion. If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue. “Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings...