On the Move: Spring 2024

Before joining Comvest, Gibson worked at Goldman Sachs, where he spent nearly two decades, most recently as a director. He focused on originating and managing credit investments for the firm’s private credit business.

While at Goldman Sachs, Gibson was among the founding members of the specialty lending group and opened the Chicago office in 2004.

Gibson also held investment management roles at Twin Brook Capital Partners, GE Commercial Finance, Heller Financial and LaSalle Bank (now Bank of America).

JONATHAN GURSS
Coalesce Capital

New York-based Coalesce Capital, a private equity firm investing in human capital-driven and technology-enabled services companies, appointed Jonathan Gurss as a partner. Gurss has 15 years of experience investing in and working with middle-market business services companies. Before Coalesce Capital, he was a principal at Sentinel Capital Partners. In this role, he invested in and served on the board of directors of 10 companies. He also focused on fostering long-term, profitable growth at portfolio companies. Before Sentinel, he was an investment banker at Harris Williams.

BILLY MEDOF
Altamont Capital Partners

Palo Alto, California-based private equity firm Altamont Capital Partners hired Billy Medof as an operating partner. He is expected to accelerate Altamont’s investment thesis within the corrugated packaging industry.

With about 20 years of executive leadership experience, Medof previously served as both president of Georgia-Pacific (GP) Corrugated and business leader for GP’s Sheet Feeders, which are subsidiaries of Koch Industries. At Georgia-Pacific, where he worked between 2007 and 2019, Medof led 4,000 employees across 40 plants that manufactured 15 million corrugated boxes daily.

He also served five years on the executive committee of the Fibre-Box Association, including his role as vice chair. Most recently, Medof was CEO of Procure Analytics, a group purchasing organization that helps member companies achieve savings in categories including maintenance, repair and operations, packaging and freight.

Medof was also the director of business development at Delta Air Lines and an associate at Citigroup. Medof is a veteran of the United States Army.

JON EILERTSEN
Alvarez & Marsal

Alvarez & Marsal, a global professional services firm, appointed Dallas-based Jon Eilertsen as a managing director in the CFO Services Practice of the firm’s Private Equity Performance Improvement group.

In his new position, Eilertsen assists private equity firms’ portfolio companies and other corporate entities with complex accounting and financial reporting-related matters.

He works with clients on accessing the capital markets, managing pre- and post-acquisition financial reporting, structuring and executing transactions, and addressing operational effectiveness issues. This includes matters related to accounting and financial reporting under U.S. generally accepted accounting principles (GAAP).

He also guides management teams regarding audit compliance issues and assists with audit remediation and the restatement of financial statements.
Prior to joining Alvarez & Marsal, Eilertsen worked for BDO. Before that, he worked at PwC as a capital markets deals manager, at Invitation Homes as a manager of accounting policy and analysis, and at Deloitte as an audit senior.

JOELLE MARQUIS
Arsenal Capital Partners

New York-based private equity firm Arsenal Capital Partners named Joelle Marquis as president.

In this newly created role, she presides over the firm’s management committee, which is tasked with overall leadership and management, organizational design and functioning, short- and long-term goals achievement, and team and capabilities oversight. She will continue to lead Arsenal’s strategic human capital and culture-building efforts.

Marquis has been with Arsenal since 2003. During her tenure, she has held the position of co-head of the firm’s operating team. In this role, she developed and enhanced the firm’s industry, scientific and technical expertise. She successfully integrated these team members and capabilities into the firm’s operating system and investment teams.

Before joining Arsenal, she worked at Baltimore Technologies as vice president of human resources and chief operating officer, and at Information Systems and Services as vice president and general manager.

LEE MINKOFF AND MOE TUFAIL
Renovus Capital Partners

Wayne, Pennsylvania-based Renovus Capital Partners, a lower middle-market private equity firm, promoted Lee Minkoff and Moe Tufail to managing directors. Minkoff was previously a principal, and Tufail was director of business development.

Prior to joining Renovus, Minkoff was a vice president at Lovell Minnick Partners, a private equity firm focused on financial services and technology. Prior to Lovell, Minkoff worked at UBS as an investment banking analyst in the financial institutions group. Minkoff began his career at JPMorgan as an investment analyst.

Before joining Renovus, Tufail held roles at UBS Financial Services, Merrill Lynch and Rampart Capital Partners.

GRANT GROHER
Balance Point Capital Partners

Westport, Connecticut-based Balance Point Capital Partners, a lower middle-market investment firm, promoted Grant Groher to managing director.

Groher joined Balance Point in 2017 as a senior associate. He most recently served as senior vice president. As managing director, Groher will continue his focus on deal origination, deal execution and portfolio management.

Prior to joining Balance Point, Groher worked in the financial sponsors group at Credit Suisse, where he was an associate responsible for the due diligence and underwriting of syndicated loan and bridge financings for sponsor-led LBO and M&A transactions. Groher began his career at Anadarko Petroleum Corp., where he evaluated and executed corporate M&A and asset transactions in the energy industry.

RAVI SHAH AND MICHAEL EMBER
McNally Capital

Chicago-based private equity firm McNally Capital promoted Ravi Shah to partner and Michael Ember to principal.

Shah joined McNally Capital in 2016 and is dedicated to leading investments in the national security and aerospace sector and the industrial technology and automation industries.

Shah co-led the creation of the firm’s investment thesis in national security. He is instrumental in driving investments within that industry, including current portfolio companies Orbis, Xcelerate Solutions, FedData and Altamira Technologies.

Ember and Shah co-lead the execution of the firm’s national security investment thesis in partnership with Nio Advisors, a McNally Capital industry partner.

Since joining McNally in 2017, Ember has played a leading role in overseeing the due diligence processes for the firm’s investments in Orbis, Xcelerate Solutions, FedData and Altamira Technologies, as well as their add-on acquisitions and refinancing activities.

In addition, he spearheaded the due diligence, negotiations and structuring process for Xcelerate Solutions and its recent merger with VMD Corp. Ember also co-led the sale of ITS Logistics alongside founder Ward McNally. He presently leads the firm’s associate recruitment committee.

GREG BELINFANTI
One Equity Partners

New York-based One Equity Partners (OEP), a middle-market private equity firm, named Greg Belinfanti as president.

He succeeds founder Dick Cashin, who will continue to serve as chairman and play an active, full-time role in managing the firm and its investments.

Belinfanti has served at OEP for more than 17 years, holding essential roles on the investment, operating and valuation committees since the firm’s spinout from JPMorgan in 2015.

Belinfanti joined OEP in 2006 when it was part of JPMorgan. Throughout tenure, Belinfanti has spearheaded numerous healthcare transactions and contributed to a variety of investments in other sectors, including business services and industrials. He has served on the boards of multiple OEP portfolio companies.

Before OEP, Belinfanti served as a vice president in the investment banking division of Lehman Brothers.

Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.