Radnor, PA, January 17, 2011 – Milestone Partners, a leading investor in lower middle market private equity, announced today that Ric Andersen, former Managing Director at Silver Lake Partners, has joined the firm. Mr. Andersen joins Milestone as a Partner and a member of the firm’s senior leadership team. He will also serve on the firm’s Investment Committee.
During his five year tenure at Silver Lake, a large international buyout firm, Mr. Andersen helped build and then led their Value Creation team and worked closely with the senior management and boards of many of the firm’s portfolio companies. In addition to his time at Silver Lake, Mr. Andersen spent twenty four years as a managing partner at PwC Consulting and at IBM Global Business Services where he led several global business units in addition to serving as a consultant to many of the firm’s top clients in a variety of industries and market segments. Mr. Andersen also serves on the board of three privately held small and medium sized businesses, Vertex, ICC/Nexergy, and Proton Media. He previously served on the boards of The Sabre Group and Princeton Softtech.
John Shoemaker and Scott Warren, Co-Managing Partners of Milestone said, “We are thrilled that Ric, a highly talented executive with a tremendous breadth and depth of skills and experience, has joined the Milestone team. His unique perspective in consulting, building and leading businesses, as well as investing in businesses, is an ideal fit for our firm as we continue to grow.”
“Milestone is very well positioned in its market place and I couldn’t be more excited about the quality of the team I am joining,” Mr. Andersen said. “Milestone is all about making good investments in companies that value partnership as well as capital, that’s a great formula for success.”
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders. Milestone is currently making new platform and add-on investments through Milestone Partners III, L.P., a $240 million fund, as well as making add-on investments through Milestone Partners II, L.P., a $120 million fund.