MidOcean Partners, which positions itself as a “premier middle-market private equity firm focused on consumer and business services” has expanded its private equity team with the addition of retail industry veterans Matt Rubel and Eric Roth. The firm also named David Kieselstein, an executive board member, as chairman of the MidOcean board.
Steve Miller, who previously served as chairman, “will continue as an active member of the MidOcean executive board,” the firm said.
Rubel has joined the board and was named chairman of the consumer group. Roth joins the firm as managing director and “will assist in identifying investment opportunities in the consumer sector and working with existing portfolio companies to drive operating performance,” the company said in a statement.
Ted Virtue, founder and chief executive officer of MidOcean, said the appointment reflect a core tenet of the firm’s investment strategy, which is “leveraging the top-flight executive talent and operating experience of our executive board to drive transformative growth in our portfolio companies.”
Virtue described Kieselstein as an “accomplished executive and longtime partner of MidOcean, having served previously as ceo of former MidOcean portfolio company Penton.” Virtue said Miller “continues to be an outstanding leader, helping strengthen our firm and investments” and noted that Rubel has “led many successful global brands, serving as ceo of Varsity Brands, Collective Brands and Cole Haan, and will provide valuable guidance to our current and future portfolio companies.”
MidOcean said the addition of Roth to the firm demonstrates the company’s “continued commitment to building a deep, experienced private equity investment team which is now composed of 17 investments professionals and supported by 20 executive board members and 13 management affiliates.”
Virtue said Roth is a “seasoned and highly respected executive” whose “expertise in advising consumer retail companies on M&A, corporate finance, and restructuring transactions will significantly benefit our existing portfolio companies, and we look forward to leveraging his deep channel expertise and relationships as we continue to source and execute deals in this attractive sector.”
Prior to Penton, Kieselstein served as ceo of North America of TNS, a division of WPP. And prior to TNS, Kieselstein was leader at Dun & Bradstreet’s small business division and served in various roles at Time Warner and Fortune magazine.
Prior to Varsity Brands, Collective Brands and Cole Haan, Rubel served in various executive roles at J. Crew Group and at Revlon. Currently, he is an independent director at the Hudson’s Bay Co., TreeHouse Foods and The Joint Chiropractic. He also serves as a presidential appointee to the House advisory council on trade policy negotiation.
Roth was most recently at Lazard Middle Market, serving as managing director and head of the firm’s consumer retail group. Prior to that, Roth was an associate in the Mergers and Acquisitions Group of Dewey Ballantine LLP.