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Wellspring Capital Management Announces Additions to Firm
John E. Morningstar Joins as Principal; William L. Ramsey Joins as Executive Director
| Source: Wellspring Capital Management
NEW YORK, NY -- (MARKET WIRE) -- May 22, 2007 -- Wellspring Capital Management LLC
("Wellspring"), a leading private equity firm, today announced that John E.
Morningstar has joined the firm as Principal and William E. Ramsey as
Executive Director. Mr. Morningstar joins Wellspring as its third
Principal and will be responsible for senior level activities surrounding
the acquisition, monitoring and sales of portfolio companies. Mr. Ramsey's
primary focus will be interfacing with Wellspring's portfolio company
management teams to foster continuous improvement in operating performance.
Mr. Morningstar joins from Castle Harlan, where he worked on a number of
leveraged buyouts of consumer-related, packaging and industrial companies
and sat on the boards of several portfolio companies. Prior to Castle
Harlan, he worked in the investment banking department of Merrill Lynch &
Co., where he assisted clients in corporate finance and strategic mergers.
Mr. Morningstar received a Bachelor of Science degree from the University
of Virginia and an MBA from The Wharton School of The University of
Pennsylvania.
Mr. Ramsey has been involved in operations, process improvement and talent
development for more than 20 years. He joins Wellspring from Honeywell and
its predecessor Allied Signal, where he was a senior officer in operations
and Lean/Six Sigma activities. Before that, he worked in operations,
procurement and quality roles at Bausch & Lomb and Xerox. Mr. Ramsey
received a Bachelor of Science degree from Massachusetts Institute of
Technology and an MBA from Harvard Business School.
"We are excited that Bill and John are joining the firm. Their extensive
experience will strengthen our overall team and provide additional industry
knowledge," said Greg S. Feldman, partner and founder of Wellspring. "We
look forward to them working with our existing portfolio companies as well
as identifying potential investments together."
"Wellspring has a terrific reputation and long-term track record," said Mr.
Morningstar. "I am delighted to join the team and am looking forward to
working with the group."
"I am excited to join Wellspring and to work with the strong group of
companies within the firm's portfolios. This position will enable me to
draw upon my broad experience in operations and talent development," said
Mr. Ramsey.
About Wellspring Capital Management
Wellspring Capital Management LLC is a New York-based private equity firm
that manages more than $2.0 billion in equity capital. The firm is focused
on acquiring companies where it can realize substantial value by
contributing management expertise, innovative operating and financing
strategies and capital. For additional information, please visit
www.wellspringcapital.com.