Levine Leichtman Implements Succession Plan
U.S. mid-market private equity firm Levine Leichtman Capital Partners has announced the implementation of a management succession plan. The succession plan involves the following:
- Matthew Frankel and Michael Weinberg have been promoted to Managing Partners, responsible for LLCP’s global investment activities, including deal origination, sector strategy and portfolio management. Andrew Schwartz, a LLCP Partner, will also have an active role in managing the activities of the investment team.
- Stephen Hogan and David Wolmer have been promoted to Executive Officers of LLCP’s management company, responsible for managing all day-to-day operations and global business affairs. Hogan has been promoted to President and Co-Chief Operating Officer, and will continue in his current role as Chief Financial Officer, and Wolmer has been promoted to Partner and Co-Chief Operating Officer, and will continue in his role as General Counsel and Chief Compliance Officer.
- Micah Levin and Matthew Rich have been promoted to Senior Managing Director, and will participate actively in the management and oversight of the investment team, workflow delegation, due diligence and transaction execution.
- Arthur Levine and Lauren Leichtman, the firm’s Co-Founders, will remain actively involved in LLCP’s operations through their continued role as Co-Chairpersons of the Executive Committee and the Investment Committee.
Levine and Leichtman said, “After nearly two years of planning, we are excited to move forward with our succession plan that creates a new senior leadership team to ensure the future success of LLCP. Matthew and Michael have demonstrated outstanding investment acumen, leadership capabilities and strategic focus. Their deep transaction experience and highly developed investment skills make them thoroughly qualified to lead the Firm as Managing Partners. We are also pleased to reward several other senior colleagues with new management roles that will give them important responsibility and input into the future direction of the firm.
“LLCP has been, and will continue to be, our life’s work. We remain deeply committed to LLCP and will continue to devote all of our business time and efforts towards the Firm’s success and that of its Investment Partnerships. We are extremely grateful for the continued support of our investment partners, and believe that our new leadership team is well positioned to continue creating value on their behalf.”
Frankel and Weinberg said, “Arthur and Lauren have built a world-class investment firm that has succeeded through multiple market cycles as a result of its innovative investment approach and outstanding people. We are honored to have the opportunity to lead the firm through its next exciting chapter, alongside Arthur and Lauren. In the coming years, the entire LLCP team will be focused on building upon our considerable accomplishments over the past decades to achieve new levels of success.”
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