Chicago, IL, May 30, 2013 –
Chicago-based private equity firm, Waud Capital Partners (“WCP” or “Waud Capital”), today announced that David A. Lowenberg has joined the firm as an Executive Partner.
Mr. Lowenberg is the former Chief Operating Officer of Express Scripts and Chief Executive Officer of its Curascript subsidiary, the specialty pharmacy business. Express Scripts (NASDAQ – ESRX) is one of the largest and most successful pharmacy benefit managers in the United States, a Fortune 100 company. During Mr. Lowenberg’s tenure at Express Scripts, the company’s revenues grew from approximately $150 million to nearly $20 billion. Earlier in his career, Mr. Lowenberg worked as an executive with both local and state governments in Arizona, including serving as the Executive Director of the Arizona Welfare Department.
“We are thrilled to have David on board as an Executive Partner. Drawing from his distinguished career in both the public and private sectors, he brings invaluable insight and management experience to Waud Capital through his advisory role as well as in executive positions within our portfolio,” said Reeve Waud, Managing Partner of WCP.
Mr. Lowenberg and Waud Capital’s relationship began several years ago when he joined the board of WCP’s portfolio company, CarePoint Partners, one of the largest infusion pharmacies in the United States. Mr. Lowenberg and Waud Capital also worked closely to develop the firm’s strategy in the toxicology market, which resulted in an investment in Sterling Healthcare, where he serves as the Chairman and Chief Executive Officer. As an Executive Partner, Mr. Lowenberg will work closely with other Waud Capital investment professionals to find attractive markets and exceptional management teams around whom they can build market-leading businesses. Matt Clary, Partner at WCP, commented, “We have developed a strong relationship with David over the past three years. He understands the firm’s strategic investment philosophy and provides unparalleled expertise in building great companies and teams in a high-growth environment.”
Mr. Lowenberg added, “I am excited to join Waud Capital Partners. Having spent the past few years working closely with the firm, I’ve developed a clear understanding of both its current operations and management leadership approach to attain success. I look forward to joining their team and together building high quality businesses.”
About Waud Capital Partners
Waud Capital Partners is a private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle-market growth equity investments, buyouts, industry consolidations and recapitalizations. The firm seeks to invest $20 million to $100 million in private companies in the following four areas: healthcare services, business, government and consumer services, specialty distribution and value-added industrial. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million. The firm has successfully completed more than 150 investments since its founding and currently has approximately $1 billion of capital under management.
For additional information on WCP, visit www.waudcapital.com.
For Further Information:
Matt Clary, Partner
Waud Capital Partners
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