Who We Are
Morgan Street Holdings is the holding company and investment arm for the HAVI Group of businesses including HAVI Supply Chain, tms and Stanley. Built on the philosophy of always “delivering the promise,” we have a 50-year history of deep customer relationships and business expansion. Morgan Street is growth-oriented with a focus on investing in and supporting great companies and management teams. We are actively looking to acquire organizations that share our values and approach to business who can be part of our group long-term.
Focus
Morgan Street Holdings is seeking to build on its foundation of owning and growing industry-leading companies that deliver the highest quality products and services to their customers.
Companies we look to acquire or invest in have at least $15m in EBITDA and the following:
Cultural & Values Alignment
We seek businesses that have a passion for their customers, a focus on growth and that are excited by creating new opportunities for their employees. As long-term holders, we prefer organizations that align to our values: Do What’s Right, Respect and Value All, Elevate Customers and People and Think Big Together.
Strong Leadership Teams
We prefer founder and family-owned businesses where the leadership and ownership have a vision and plan for growth. We are not interested in turn-arounds but want strong leadership teams that are looking for the right long-term partner to support their efforts with capital and capabilities.
Aligned Sector Focus
We seek companies that operate in areas that are aligned with our core capabilities:
- Sourcing
- Distribution
- Food and Beverage Services
- Business Services
- Consumer Products
We’re also open to working with other investor partners that share our values and are actively looking to invest in partnership opportunities.
Approach
Enabling and Enhancing Growth
We believe that the best operating companies have strong and committed leadership teams and drive the most value and best decision-making by being close to their customers. That’s why we seek acquisitions that are self-sufficient and driving a long-term growth plan. Our approach and philosophy are to enable and enhance long-term steady growth through patient capital, support of management and connectivity across our business units and capability sets. We like to operate with relatively low leverage and focus on new opportunities for investment – not exit plans or target sale dates.
As lifelong business owners and operators, we know the best way to build value is to acquire and hold operations where we can measure our results and performance over years or decades, not quarters. We allow the businesses’ founders, owners and leaders to do what they do best – build strong and stable companies that are loved by their customers and employees.
Our Goal is to support our businesses and leaders with additional capital to enhance growth through talent or business acquisitions, innovation, new facilities or market expansion.
A patient and long-term view to growth with a focus on building a foundation for multiple decades.
Additional capital to enhance growth.
Access to pull resources, capabilities, technology, knowledge & support from across our other operating businesses.
A collaborative culture that provides multiple opportunities for the business and the employees within it to thrive.
Our combination of operating company expertise and long-term flexible capital makes us a unique and ideal partner for the right opportunity.
Operating Company Experience
- Direct experience operating businesses
- Significant capability and talent leverage opportunities across our network
- Deep customer relationships & insights on B2B and consumer markets
- Respect and appreciation for investing in key talent
- Clear approach to sustainability
- Demonstrated experience in supporting growth of acquired businesses
Permanent Ownership Approach
- Long-term or permanent holding period with patient capital
- Supportive light-touch governance approach & expectation of self-sufficient businesses
- Low leverage pressure with a focus on long-term growth and investment
- Management participation in value creation with structured opportunities for liquidity
The support in our leadership team and investment in our plan helped Stanley transition to become the fastest growing outdoor consumer product company for two years running.
Matt Navarro, President, Stanley
Businesses
“Built for Life” and founded over 100 years ago, Stanley is an iconic brand famous for its indestructible water bottles that sell in over 30 countries worldwide. With a focus on sustainability, hydration and functionality, Stanley has been a leader in keeping cold drinks cold and hot drinks hot since its founding.
Meet Our Team
Morgan Street is built on the rich heritage and strategic vision of HAVI. Propelled by the diverse multi-industry expertise of our Morgan Street Leadership Team and supported by the invaluable guidance of our Board of Advisors, we stand united in our mission to drive success through long-term investments that always emphasize a focus on people and culture.
Russ Smyth is the Chairman and General Partner for both Morgan Street Holdings and the HAVI Group, which owns and operates HAVI Supply Chain, tms and Stanley. From 2011 through 2014, Russ served as CEO of HAVI before acquiring the organization from its Founder. Prior to joining HAVI, Russ was the CEO of H&R Block from 2008 to 2010 and spent over 20 years at McDonald’s where he held a variety of executive leadership roles including President of McDonald’s Europe and President of Partner Brands, where he oversaw the development of Chipotle and Boston Market. Russ began his career at PWC in Chicago and after earning his bachelor’s and master’s degrees from Northern Illinois University. Russ lives in Chicago with his wife, Dawn, and their 4 children.
View Profile >Howard Katz is a Partner at Morgan Street Holdings. Since 2008, he has been with the HAVI Group and most recently led the M&A and Corporate Development function across the HAVI businesses. Previously, Howard was the Chief Strategy Officer for HAVI and joined the company as the Chief Operating Officer of tms. Prior to HAVI, Howard held executive positions in venture and private equity backed businesses in the Student Lending, Internet Music and Healthcare Technology industries. Howard earned a bachelor’s degree from the University of Michigan and an MBA from Northwestern University. He lives in Chicago with his wife, Rachel, and their 3 boys.
View Profile >Chris Smyth is a Partner at Morgan Street Holdings. Prior to Morgan Street, Chris spent 29 years at Ernst & Young where he was the Americas Private Equity Leader responsible for EY’s services to private equity funds and their portfolio companies. Chris held a variety of Partner level roles across EY, including Central Region Managing Partner of Strategy and Transactions, and worked in both London and San Francisco throughout his tenure there. Chris holds his CPA and earned a bachelor’s degree from Purdue University. He lives in Chicago with his wife, Susie, and their 6 children.
View Profile >Molly Ernst is an Executive Assistant at Morgan Street Holdings with an extensive background in administrative assistance and corporate event planning. Prior to Morgan Street, Molly spent 5 years with healthcare private equity firm Cressey & Company and 2 years with McKinsey & Company. She earned her bachelor’s degree from the University of Kentucky and was on the nationally ranked equestrian team there. Molly lives in Chicago and has a golden retriever named Tucker.
View Profile >Daniel Quintana is a Vice President at Morgan Street Holdings. Before joining Morgan Street, Danny spent 8 years at Twin Bridge Capital Partners where he served as a Vice President specializing in underwriting fund investments and co-investments, conducting ongoing manager research and performing portfolio analytics and reporting. Daniel holds a bachelor’s degree from the University of Illinois and an MBA from the University of Notre Dame. He lives in Chicago with his wife.
View Profile >Mike Henkels is a Vice President at Morgan Street Holdings. Before joining Morgan Street, Mike worked in private equity at Bertram Capital, Comvest Partners and Red Arts Capital. Mike started his career in investment banking at Rothschild in New York. Mike holds a bachelor’s degree from the University of Michigan. He lives in Chicago with his wife.
View Profile >Joel Sircus is a Vice President at Morgan Street Holdings. Prior to Morgan Street, Joel was the Head of Core US Strategy for Grubhub. Prior to Grubhub, Joel worked at DNS Capital and Bain & Company in their New York and Stockholm offices. Joel holds a bachelor’s degree from Yale University. He lives in Chicago with his wife Stephanie & their son Cooper.
View Profile >As President of HAVI’s Supply Chain business unit, Neil provides strategic direction and oversight of HAVI’s global supply chain services, including supply chain management, analytics and logistics. These services are provided by more than 8,000 employees in approximately 50 countries globally. Neil joined HAVI in August 2017 and assumed the role of President, Logistics in January 2018.
Neil comes to HAVI from Unilever, one of the world’s leading suppliers of food, home care, personal care and refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. In his more than 30-year career with Unilever, Neil served in a variety of sales and supply chain operations and leadership roles, most recently as EVP Supply Chain Europe and Chairman, Unilever Supply Chain Company, where he had executive responsibility for the total supply chain for all Unilever businesses in Europe.
During his five years in this role, Neil led an end-to-end team responsible for the manufacturing, planning, logistics and customer service delivery for a 13-billion-euro European business. He established a new direction and vision, creating a truly business-driven supply chain, and drove significant innovation within the supply chain, such as the implementation of an operational “control tower” approach globally. Improvements made under his leadership played a key role in Unilever being named Gartner’s number one supply chain in the world in 2016.
Born in the U.K., Neil holds a degree in Electrical Engineering from the University of Southampton.
View Profile >Mark Landolt provides strategic direction and oversight to tms, a HAVI affiliated company that provides customer engagement and marketing services across the globe. Mark has served in this capacity since January 2008.
Prior to joining tms, he was President of Creata – McDonald’s, where he was responsible for overseeing the global McDonald’s strategy, promotional activities and business. From 2002 to 2005, Mark was President of IDM Matrix, a venture capital funded company engaged in intellectual property design and development. In this capacity, he had a team of marketers, engineers, and manufacturing experts in the U.S. and Asia focused on bringing a variety of diverse intellectual properties to market.
From 1988 to 2002, Mark worked at Simon Marketing in Los Angeles, California and Chicago, Illinois where he held various leadership roles. Over the course of his career at Simon Marketing, Mark was an essential part of the company’s explosive growth and development, building revenues from $100 million to $750 million. During this time, he was responsible for developing many precedent-setting campaigns that impacted the entire industry, including McDonald’s Monopoly Game promotion and the evolution of McDonald’s Happy Meal programs.
Mark received his Bachelor’s of Science degree in Business Administration from Western Illinois University. He currently serves on the Board of Directors for Big Brothers Big Sisters of Metropolitan Chicago.
Dan Musachia oversees all aspects of financial governance, internal controls and resource allocation for HAVI and its three business units. Prior to becoming CFO in January 2016, Dan served as President of HAVI Global Solutions, one of the HAVI companies combined under the single brand HAVI in 2016.
Dan started his career with HAVI in 1989, progressing from Finance Manager to Controller and Director of Finance for The HAVI Group, LP. He joined Perseco in June of 1995 as Chief Financial Officer, then in June 2004, was promoted to President of Perseco Americas, responsible for operations in the United States, Canada and Latin America, as well as Perseco’s global financial and human resource functions. In July 2005, Dan was promoted to President and Chief Operating Officer of HAVI Global Solutions. Two years later, his responsibilities were expanded to include all of HAVI Global Solutions’ businesses globally.
Dan received his Bachelor’s degree in Accounting from Northern Illinois University, and a Master’s degree in Business Administration from the University of Chicago and is a Certified Public Accountant.
As Chief Information Officer, Allison is responsible for the information and digital technology functions globally, including strategic planning, product delivery, operations, security, controls and compliance. She is charged with leading the team to be a competitive asset for the company by focusing resources and prioritizing initiatives that deliver the greatest opportunities for revenue growth and improved business performance.
Prior to joining HAVI, Allison served has Chief Information Officer for Beam Suntory Inc., a world leader in premium spirits, Senior Director of Information Systems for Mondelēz International and spent 10 years at GS1 US as Senior Vice President and Chief Information Officer.
Allison began her career in management consulting at PricewaterhouseCoopers where she spent ten years specializing in supply chain management process re-engineering and information systems implementation for the consumer products industry.
Allison received her Bachelor of Science degree in Industrial Engineering from the University of Wisconsin – Madison. She lives in Chicago and enjoys running, cooking, spending time with her husband, Steve, their three daughters and their Golden Retriever, Hazel.
View Profile >Renee Sotos serves as HAVI’s General Counsel, responsible for all corporate legal activities. She works closely with the business unit legal teams as well as supporting the corporate functions and leadership teams.
Prior to joining HAVI, Renee was with Molson Coors Beverage Company, where, for nearly 10 years, she was legal partner to numerous divisions across the commercial organization, ranging from brand marketing to sales and regulatory.
Before going in-house, Renee practiced litigation at the law firm of Winston and Strawn after completing a federal judicial clerkship at the U.S. District Court for the Northern District of Illinois.
Renee holds a B.A. in History and Political Science from Loyola University Chicago, and a J.D. from Loyola University Chicago School of Law.
View Profile >Howard Bernick was formerly the Chief Executive Officer and President at Alberto Culver Company (NYSE listed), a health and beauty aid manufacturing and distribution company, and is now the President at Bernick Advisory Limited. He also serves as a director of the Palm Beach Civic Association, Palm Beach Police and Fire Foundation and on the board of trustees at the Town of Palm Beach United Way and the Field Museum in Chicago. Mr. Bernick has previously been a director on several large public and private company boards, including the Wm. Wrigley Jr. Company and Mead Johnson Nutrition Company. Mr. Bernick is a member of the World Presidents’ Organization, Chief Executives Organization, Economic Club of Chicago and Commercial Club of Chicago. Mr. Bernick was born in Canada and graduated from the University of Toronto.
View Profile >Paul Carbone is the Co-Founder and Vice Chairman of Pritzker Private Capital (PPC). In 2012, Paul joined PPC’s predecessor company and later PPC as Managing Partner and led the firm’s growth and development for over ten years. Prior to PPC, Paul was the Director and Managing Partner of Robert W. Baird & Co.’s Private Equity Group (a buyout, growth and venture investor) after serving as Co‐Director of Investment Banking responsible for Robert W. Baird & Co.’s Mergers and Acquisitions Advisory practice. Previously, he was the Senior Vice President in the Investment Banking Group at Kidder, Peabody & Co. In addition to being a member of Morgan Street Holdings’ Board of Advisors, Paul currently serves on the board of trustees or directors of The University of Chicago, University of Chicago Medical Center, The Art Institute of Chicago, The Larry H. Miller Company, and Misericordia Home. He received his M.B.A. from Harvard Business School and his B.A., Phi Beta Kappa, from The College of the University of Chicago.
View Profile >Celeste Clark is currently a Principal at Abraham Clark Consulting, LLC, a health and regulatory policy consulting firm. She is the former senior vice president of Global Public Policy and External Relations, and Chief Sustainability Officer of Kellogg Company and was a member of the Global Executive Leadership Team. She was responsible for the development and implementation of global health, nutrition, and sustainability initiatives ensuring consistency in approach and implementation. She served as president of the Kellogg Corporate Citizenship Fund, Kellogg’s philanthropic entity, and also led global corporate affairs, communications, government relations and several administrative functions. Celeste currently serves as an Independent Director for Wells Fargo, The Hain Celestial Group, Darling Ingredients and Prestige Consumer Healthcare, Inc. She is also a Trustee of the W. K. Kellogg Foundation. Celeste earned a Ph.D. in Food Science from Michigan State University and is an adjunct professor in their Department of Food Science and Human Nutrition.
View Profile >Jay Henderson serves as a Board member of Illinois Tool Works Inc., Northern Trust Corporation, and The J.M. Smucker Company. From 2007-2016, Jay served as a Vice Chairman at PricewaterhouseCoopers, gaining extensive experience working with boards and audit committees of Fortune 500 companies and driving strategy. Jay has held numerous leadership roles on major non-profit organizations’ boards, including the Board of the Chicago Symphony Orchestra (former Chairman), Rush System for Health, Civic Committee of the Commercial Club of Chicago, and the Rock and Roll Hall of Fame and Museum (former Co-Chairman). Jay received his B.S. in Business, Major in Accountancy, Magna Cum Laude from Miami University in Oxford, Ohio. He is married to Cindy Henderson, and they have three adult children.
View Profile >Roxanne Martino is the Co-Founder of OCEANM19 LLC and serves as a Director and Chairperson of the Compensation Committee of Ventas, Inc. (NYSE: VTR). Roxanne is also the Chairperson of the boards of Ann & Robert H. Lurie Children’s Hospital of Chicago, its Medical Center, and its Executive and Governance Committees. Previously, she was the Chief Executive Officer and Investment Committee Chairperson of Aurora Investment Management LLC, and Co-Chairperson of The University of Chicago Council on Booth. She is a past Chairperson and current member of the Mendoza College of Business Council of The University of Notre Dame, Secretary-Treasurer and current member of The Chicago Network and is current member and past Board and Executive Committee member of The Economic Club of Chicago. Roxanne served three terms as a Director of The Investment Analysts Society of Chicago. For over 30 years, she has been a Director of Thresholds and a member of its Executive Committee. Roxanne spent the first seven years of her career at PricewaterhouseCoopers and subsequently spent over six years at Grosvenor Capital Management, as a general partner. She received her B.S. in Business Administration from The University of Notre Dame and her M.B.A. from The University of Chicago.
View Profile >Mark Tebbe currently serves as a University of Chicago Booth School of Business’s Adjunct Professor of Entrepreneurship and Entrepreneur-in-Residence at the Polsky Center. Outside of the classroom, he serves as the Chairman of World Business Chicago’s Innovation and Venture Strategy Council Chairman as well as on the board for Enova. Previously, Mark founded Lante Corporation, co-founded the Answers Corporation, served as an Operating Executive at Lake Capital, and acted as a consultant to American Express, Dell, and Microsoft, among others, as well as nonprofit organizations such as the National Park Service, United Nations, and World Economic Forum. Mark has also served on the boards of many civic organizations, including 1871, Big Shoulders Fund, Chicagoland Entrepreneurial Center, ChicagoNEXT, Economic Club of Chicago, Field Museum of Chicago, mHub, and World Business Chicago. Mark and his wife support numerous children-oriented, educational, and environmental causes. He received his B.S. in Computer Science at the University of Illinois Urbana-Champaign.
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