NEW YORK, April 7, 2014 /PRNewswire/ -- Wellspring Capital Management LLC, a private equity investment firm with more than $3 billion under management, announced today that Greg S. Feldman, the firm's co-founder, has been named Executive Chairman and William F. Dawson Jr. has been named Chief Executive Officer. Alexander E. Carles, Joshua C. Cascade and John E. Morningstar have been named Managing Partners of the firm, and will serve in this role along with Carl M. Stanton.
Mr. Feldman said, "We are proud of what we've accomplished at Wellspring by consistently executing our investment strategy through multiple economic cycles. Bill has made extraordinary contributions since joining the firm in 2001 and his continued leadership will assure continuity in our approach and internal processes. The promotion of Alex, Josh and John to serve as Managing Partners along with Carl is an acknowledgement of how much they have added to the success of Wellspring and their efforts to further develop the next generation at our firm. I am fortunate to have partners of this caliber and I look forward to many more years investing with them."
Mr. Dawson said, "I have worked with Greg and our partners for more than thirteen years and very much look forward to the next stage in the growth of our firm. We have built a tremendous team and have delivered terrific results for our Limited Partners that we work hard every day to build upon. I hope to provide strong leadership and reinforce the great culture we have established together."
Wellspring is currently investing from the $1.2 billion Wellspring Capital Partners V LP that was launched in 2011.
About Wellspring Capital Management
Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. The firm's objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring is able to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic rather than tactical partner, providing management teams with top-line support, M&A experience and financial expertise, and access to resources. For additional information, please visit www.wellspringcapital.com.
Contact: Mark Semer
Kekst and Company
SOURCE Wellspring Capital Management LLC