Our principals have closed hundreds of private market transactions, some as large as $1 billion in transaction value.
Branford requires a control stake in a business post-transaction, but encourages management teams and prior owners to re-invest equity in the company and can structure highly tailored and flexible transactions to meet the needs of all involved in the deal.
COMMITMENT TO THE BUSINESS
Branford spends a significant amount of time post-transaction working with portfolio company executives to augment the existing operations and to grow the business to new heights.
Given the hundreds of companies our principals have worked with, we have accumulated an exceptional amount of knowledge in terms of helping companies grow. We recognize that the first thing to do is to listen to the experience and the histories of the executives and owners who have first-hand experience running the business.
Two recent divestitures resulted in 30-45x overall returns for our portfolio company CEOs. These uncommon results are directly linked to the partnership between management and Branford. We look forward to sharing our expertise and skill with you.
Branford believes that a good partnership is good business. That core belief underlies everything we do at Branford, from our collaborative style to the close relationships we build with our portfolio company management teams.Â Much of our success can be credited to our record of being good listeners who respect transparency and believe in strong corporate governance policies.
We are highly supportive partners of our management teams. We believe the most successful opportunities are created by strong management teams who respond positively to operating autonomy and meaningful equity ownership. We work closely with management to create long-term value by identifying value-drivers that can improve a company’s performance, and we create generous, performance-based incentives that align management with the interests of the shareholders.
The combination of an experienced, motivated management team with Branford’s financial, strategic and operating experience, expertise, and sophistication has consistently served to enhance the value of Branford’s portfolio companies.
John K. Castle
Chairman, Investment Committee Member
Mr. John K. Castle (JKC) is one of the pioneers of the institutional private equity industry. He is also the Chairman and Chief Executive Officer of Castle Harlan, Inc. and a member of the Executive Committee of CHAMP, an affiliate of Castle Harlan. JKC is also chairman of Castle Connolly Medical Ltd. Immediately prior to forming Castle Harlan, Mr. John K. Castle was President and Chief Executive Officer of Donaldson, Lufkin & Jenrette, Inc., one of the nation’s leading investment banking firms. JKC is a board member of various private equity companies, including those owned by Branford Castle. He also served as a Director of the Equitable Life Assurance Society of the U.S. JKC is a Life Member of the Corporation of the Massachusetts Institute of Technology. He served 22 years as a Trustee of New York Medical College, (including 11 years as Chairman). He was board member of the Whitehead Institute for Biomedical Research for 13 years, and was Founding Chairman of the Whitehead Board of Associates. He is also a member of The New York Presbyterian Hospital Board of Trustees and has served on various visiting committees at Harvard University, including at the Harvard Business School. JKC received his B.A. degree from the Massachusetts Institute of Technology, an M.B.A. as a Baker Scholar, with High Distinction, from the Harvard Business School, and has four Honorary Doctorate Degrees of Humane Letters.
John S. Castle
Managing Partner, Investment Committee Member
Mr. John S. Castle’s primary responsibilities are deal sourcing, deal execution, and post-acquisition portfolio oversight. Mr. Castle is and has been a board member of various companies owned by Branford, including TooJay’s Restaurant & Deli and Earthlite Massage Tables. Prior to joining Branford in 2002, he was a Director of Business Development at Airwave Wireless (an Idealab! Company, the leading Internet incubator in the early 2000’s). Prior to that, he was an Analyst, M&A at Dillon Read & Co. John received an A.B. from Harvard College, where he was a John Harvard Scholar (top annual academic achievement), a Cum Laude graduate, and started at running back on the varsity football team. He received an M.B.A. from the Harvard Business School. He is a member of the Manhattan Chapter of the Young Presidents’ Organization (“YPO”) and is the Co-Chairman of the Harvard Class of 1995 Fundraising Committee. He is also a member of the Board of Trustees of the Riverdale Country School in New York City.
Managing Partner, Investment Committee Member
Mr. David Castle’s primary responsibilities are deal execution, post-acquisition oversight and fund administration. Mr. Castle is and has been a board member of various companies owned by Branford. Prior to joining Branford in 1996, he was a Regional Director for Santa Fe Steakhouse, a casual themed restaurant chain headquartered in Ohio. Prior to that, he was a Risk Management Specialist with GE Capital/Monogram Bank. He received a B.A. from Skidmore College (Phi Beta Kappa) and a J.D. from the Cornell Law School. He is licensed to practice law in the state of New York. He is a member of the New York Metro Chapter of Young Presidents’ Organization. Mr. Castle has been a member of the Board of Trustees of Skidmore College as well as a member of its Alumni Association Board of Directors.
Mr. Eric Korsten’s primary responsibilities are sourcing, acquisition and oversight of new and existing investments. He is a board member of TooJay’s Restaurant & Deli as well as a member of its audit committee, a board member of Earthlite Massage Tables and a board member of Surface Preparation Technologies. In 2015, Mr. Korsten received “Top 40 Under 40” recognition from The M&A Advisor and was a judge for the 14th Annual M&A Advisor Awards. Prior to joining Branford in 2011, he was a Vice President at the investment banking firm Jefferies & Co., Inc. While at Jefferies, he worked on over $30 billion of restructuring and M&A advisory mandates and completed over $7 billion of financings. Mr. Korsten received a B.A. from the University of Pennsylvania and an M.B.A. from the Leonard N. Stern School of Business at New York University. He is an alumni interviewer for the University of Pennsylvania.
Mr. Laurence Lederer is primarily involved in the sourcing, acquisition and oversight of Branford Castle Fund investments. He is a board member of Earthlite Massage Tables, Vitrek and Drew Foam. Prior to joining Branford Castle in 2015, Mr. Lederer founded Rubicon Associates, an independent sponsor, where he invested in and took on senior operating roles in small, private companies. Prior to that, Mr. Lederer was a Principal at ACG Capital, where he sourced, evaluated and executed private equity investments in the business services and education sectors for a family office. He has also worked as an investment banking Associate at Morgan Stanley & Co. and an Associate at Castle Harlan, Inc. Mr. Lederer received a B.A. from Carleton College, where he was a cum laude graduate, and received his M.B.A. from the Harvard Business School. He is a former member of the Board of Trustees of Riverdale Country School and the City Parks Foundation.
Chief Financial/Compliance Officer
Mr. James Reddington manages the financial, compliance, administrative and accounting operations of Branford Castle’s global portfolio of companies. Prior to joining Branford in 2010, he was CFO of Synergy Workplaces, a provider of flexible workplaces. Prior to that, Mr. Reddington was CAO of NY Mortgage Trust, a mortgage REIT listed on the NYSE where he oversaw all financial accounting, operational accounting and budgeting, SEC reporting and Sarbanes-Oxley compliance. Mr. Reddington received a B.S. in accounting from Fairleigh Dickinson University. He is a Member of the American Institute of CPAs and is a Certified Public Accountant.
Mr. David Pittaway is Vice Chairman of Branford Castle and has been closely involved with the firm since its founding in 1987. He has also been actively involved with Castle Harlan since its founding in 1987. Prior to Branford Castle and Castle Harlan, Mr. Pittaway was vice president for strategic planning and assistant to the President of Donaldson, Lufkin & Jenrette, Inc., (DLJ). Before joining DLJ, he was a management consultant in strategic planning with Bain & Company in Boston, Mass., and previously was an attorney with Morgan, Lewis & Bockius specializing in labor relations. In addition to being on the board of various Branford Castle portfolio companies, he is a board member of The Cheesecake Factory, Caribbean Restaurants, LLC and Bravo Brio Restaurant Group, and has also served on the boards of numerous other Castle Harlan portfolio companies, including American Achievement Corporation, Gold Star Foods, Shelf Drilling, Statia Terminals Group N.V., Morton’s Restaurant Group, and United Malt Holdings Inc. Mr. Pittaway’s community interests include being a director of the Dystrophic Epidermolysis Bullosa Research of America. In addition, he served for twenty years in the United States Army Reserve and, upon retiring as a Major, he co-founded and acts as a director of the Armed Forces Reserve Family Assistance Fund, which provides needed support for families of American service members whose breadwinners are serving their country in overseas conflicts. He is a graduate of the University of Kansas (B.A. with Highest Distinction), and has both an M.B.A. with High Distinction (Baker Scholar) from the Harvard Business School and a J.D. degree from the Harvard Law School.
Richard Y. Smith
Investment Committee Member
Mr. Richard Y. Smith is President of Evergreen Capital Partners Inc., a merchant banking firm that works closely with Branford Castle. Prior to founding Evergreen, Mr. Smith was a Managing Director of Chemical Bank (now JPMorgan Chase & Co.), with shared responsibly for the Corporate Finance and Principal Transactions Groups. Prior to joining Chemical, Mr. Smith was a Senior Vice President of Rothschild Inc.’s Corporate Finance group. Rothschild Inc. is an investment banking, venture capital and money management firm affiliated with the world-wide Rothschild Group. Mr. Smith started his career with Blyth & Co., Inc. as a securities analyst. Mr. Smith received his B.A. degree with Honors from Wesleyan University and his M.B.A. from the Harvard Business School. He is also a Chartered Financial Analyst (C.F.A.). Mr. Smith has served as Chairman of the Wesleyan Annual Fund and as an officer and director of several other charitable organizations.