SAN FRANCISCO, Sept. 5 Genstar Capital, LLC, a middlemarket private equity firm that focuses on investments in selected segments oflife sciences and healthcare services, industrial technology, businessservices and software, today announced the appointment of Michael L. Hurt tothe firm's Strategic Advisory Board (SAB). The addition of Mr. Hurt, CEO ofAltra Industrial Motion (Nasdaq: AIMC), a former Genstar portfolio company,increases to 18 the number of influential senior executives who are current orformer leaders of major corporations and have joined the firm in this advisorycapacity.
"I have known Mike for more than 15 years since my first LBO of thecompany he ran and he is a multi-talented executive who repeatedly has drivengrowth at the businesses he has overseen," said Jean-Pierre L. Conte, Chairmanand Managing Director of Genstar. "The Genstar team has become familiar withMike's ability to successfully lead organizations, most recently as head ofour portfolio company Altra Holdings where he achieved spectacular growth andtripled operating profit in less than three years. We are very pleased thathe will now provide the skills he has obtained over nearly 40 years of workingwith industrial technology businesses to our management teams as we grow ourinvestments."
Mr. Hurt is currently CEO of Altra Industrial Motion, which designs,produces, and distributes a wide range of mechanical power transmissionproducts that serve a variety of applications. Prior to leading Altra, heworked with Genstar as an advisor in the Industrial Technology area afterretiring as the President and CEO of TB Wood's Corporation in November 2003.In addition to Altra, Mr. Hurt spent thirteen years at TB Wood's and 23 yearswith the Torrington Company, a division of Ingersoll Rand.
A graduate of Clemson University with a BSME degree in mechanicalengineering, Mr. Hurt holds an MBA degree from Clemson-Furman University. Heis a registered professional engineer.
The Genstar SAB includes executives from such leading companies asPharmacia & Upjohn, Inc., CNA Insurance Companies, ITT Corporation, Deere &Co., Axia Health Management, MedImmune, Inc., Wild Oats Markets, WellPoint,Inc., NEN Life Science Products, and ICOS Corporation.
About Genstar Capital, LLC
Based in San Francisco, Genstar Capital (www.gencap.com) is a privateequity investment firm that makes leveraged investments in quality middle-market companies. Genstar Capital works in partnership with management totransform its portfolio companies into industry-leading businesses. With morethan $3 billion of committed capital under management and significantexperience investing in businesses, Genstar focuses on selected segments oflife science and healthcare services, industrial technology, business servicesand software services.
SOURCE Genstar Capital, LLC