NEW YORK, January 3, 2011 — Bruckmann, Rosser, Sherrill & Co. (BRS), a New York-based private equity firm, today announced that one of its founding partners, Harold (Hal) Rosser, has decided to leave the firm. Mr. Rosser plans to start his own investment firm with two other BRS employees, Jacob Organek and Luke Rosser. Mr. Rosser, Stephen Sherrill and Bruce Bruckmann formed BRS in 1995 after working together for many years at Citicorp Venture Capital. The BRS leadership team was expanded in 2000 to include Thomas Baldwin.
Mr. Rosser said, “Founding my own firm is a long-time dream and this is the right time to pursue it. BRS accomplished a significant amount in 2010 despite what continues to be a very challenging market and economy. I am fully confident that the firm will continue to be highly successful under Bruce, Steve and Tom’s leadership and I will continue to be a substantial investor in the firm. I cherish the fifteen years we worked together to build BRS and I wish the team all the best. I look forward to investing with BRS in the future.”
Mr. Bruckmann said, “We are disappointed that Hal is leaving BRS, but we respect his decision. Hal is a great friend and colleague and an able investor. He leaves with our best wishes for continued success. BRS is well-prepared for this transition as we have built an exceptional investment team with shared values and a common investment philosophy.”
Mr. Sherrill added, “Our team is fully engaged in investing our third fund, which has substantial capital to deploy, and managing our portfolio to create value for our investors. BRS had a very successful year in 2010 creating substantial value for our LPs through realizations and superior portfolio company performance. We expect that success to continue.”
Mr. Bruckmann, Mr. Sherrill and Mr. Baldwin will continue to lead the firm, which will continue to be known as Bruckmann, Rosser, Sherrill & Co.
BRS is a New York based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the financial acquisition business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion.
For additional information contact:
Kekst and Company
Ruth Pachman or Mark Semer