New Private Equity Firm Fires Up In Indy

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Bob Erwin and Glenn Scolnik Bob Erwin and Glenn Scolnik

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.

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