CHICAGO, IL - August 9, 2005 – WHI Capital Partners (WHICP), a
Chicago-based private equity firm targeting investments in leading
businesses in the lower middle market, is pleased to announce that Fred
Conforti and Paul Coughlin have joined the firm’s Advisory Board.
Mr. Conforti is best known as one of the founders of First Alert,
the world-wide leading residential smoke detector manufacturer. Mr.
Coughlin’s accomplishments include the successful turnaround of Eastmet
Corporation, its Eastern Stainless Steel Division and Industrial
Products Group. Both Mr. Conforti and Mr. Coughlin will focus their
efforts on enhancing WHI Capital Partners’ deal origination, investment
due diligence and portfolio company oversight.
“Fred and Paul share deep and diverse operational experience in both
the growth and turnaround of companies” said Adam Schecter, Managing
Partner of WHI Capital Partners. “Their leadership skills and insights
have made them consistently successful in their endeavors and we are
extremely fortunate to have them join our Advisory Board.”
“WHI
Capital Partners is unusual in its philosophy and strategy,” said Fred
Conforti. “They are not in this for the quick flip like many firms
these days. Irving B. Harris and his family have always been recognized
as being builders of great businesses and WHICP is following suit.”
Paul
Coughlin added, “I was impressed with the team WHICP is building and
their commitment to operational greatness and discipline. Their
differentiation and patient capital source will enable them to better
leverage opportunities in the lower end of the middle market.”
Mr.
Conforti has an impressive 30-year career as an operational, strategic
and technical leader. As CEO of Pittway Corporation’s fire protection
and controls companies (PSTG) he managed its growth from a start-up in
1984 to its status as the world’s largest commercial fire alarm control
and smoke detector manufacturer. Prior to PSTG, Mr. Conforti was
President and CEO of BRK Electronics, a division of Pittway. At BRK, he
was one of the founders of the brand First Alert and managed 22
consecutive years of growth of BRK from $250,000 in annual sales to
more than $110 million. He remained with Pittway Corporation until its
sale in 2000 to Honeywell. Mr. Conforti holds numerous worldwide
patents on smoke detectors, fire alarms and access control systems. He
currently serves as chief executive officer of Recognition Source LLC,
which recently sold its Wyreless Access product line to Ingersoll-Rand.
As President and Chief Executive Officer of Eastmet
Corporation, Mr. Coughlin successfully redirected the corporation out
of Chapter 11 proceedings into a viable and growing organization. He is
currently a partner Grisanti, Galef & Goldress (GGG), an Atlanta
based turnaround and crisis management firm. Prior to joining GGG in
1993, Mr. Coughlin was President, CEO, and Chairman of the Board of
Washington Aluminum Company, a fabricator of custom aluminum products.
He also served as Chairman of the Board of Tri Fab, Inc., a specialty
fabricator, Empire Steel Castings, Inc., a specialty steel foundry; and
M.P. Moller, Inc., a manufacturer of musical instruments. He served
earlier as General Counsel and Vice President - Washington Affairs for
Union Pacific Corporation, a multi-billion dollar diversified holding
company. Mr. Coughlin was also a special consultant to the Assistant
Secretary of Defense for International Security Affairs, and as a staff
member of the Secretary of State's Commission on Security and Economic
Assistance.
About WHI Capital Partners
WHI Capital
Partners is a private equity firm that invests in profitable, mid-size
companies with leading market positions and revenues of $10-100
million. Our operational expertise coupled with our investment
capabilities and flexibility makes us uniquely positioned to build
better businesses. Backed by the strength and depth of our parent firm
William Harris Investors, WHI Capital Partners also brings ample
professional and financial resources to capitalize on a company’s
opportunities over the long-haul.