January 22, 2002
"The Cypress Group Names Christopher B. Harned as Managing Director, Member of Management Committee; Gene Lee, Brian M. Moloney and David C. Sullivan Join Firm"
The Cypress Group, the New York-based private equity firm, announced today that it has named Christopher B. Harned a Managing Director and member of the firm's Management Committee. In addition, Cypress named Gene Lee, Brian M. Moloney and David C. Sullivan associates of the firm.
"I am very pleased to welcome Chris, Gene and Brian to Cypress, and to welcome David back to Cypress on his return from business school," said James A. Stern, Chairman of The Cypress Group. "Chris will be heading a new industry group for us, focusing on investments in the consumer products sector. In addition, he will lead Cypress's strategic initiative for investments with European partners," said Mr. Stern.
"Gene Lee will be helping us analyze and develop opportunities in the healthcare and financial services sectors, while Brian Moloney will focus on projects we are pursuing among industrial businesses," continued Mr. Stern. "David Sullivan will join our automotive and aerospace/defense team," concluded Mr. Stern.
Chris Harned joins Cypress following a 16-year career at Lehman Brothers, where he had been a Managing Director and Head of Lehman's Global Consumer Products M&A practice. He also served on Lehman's Investment Banking Business Development Committee and spearheaded the development of Lehman's European consumer franchise. At Lehman, Mr. Harned was involved in a number of notable transactions, including PepsiCo's acquisition of Tropicana; the RJ Reynolds acquisition of Nabisco Holdings; and the sale of McKesson's water business to Groupe Danone. As advisor to Nabisco, he structured that Company's leveraged joint venture investment in United Biscuits PLC, Corporate Finance magazine's 2000 "Buyout of the Year." Mr. Harned graduated from Williams College in 1985 with a B.A. in history.
Prior to joining Cypress, Gene Lee worked for TH Lee Putnam Ventures, a venture capital fund affiliated with The Thomas Lee Company. Mr. Lee began his career as a financial analyst, first with Morgan Stanley's mergers and acquisitions group, and then with Princes Gate Investors, a private equity fund affiliated with Morgan Stanley. Following this, he worked for two years as an associate with Morgan Stanley. Mr. Lee graduated from the University of Michigan in 1994 with a B.A. in economics, and earned an M.A. in economics from The University of Chicago in 1995.
Brian Moloney worked at Windward Capital Partners in New York prior to joining Cypress. At Windward, Brian focused on middle-market industrial management buyouts. Previously, he worked with the Equity Capital Group at GE Capital and with Marakon Associates, a strategy consulting firm. Mr. Moloney graduated from Yale University in 1993 with a B.A. in history, and earned an M.B.A. from Stanford University in 1999.
David Sullivan is returning to Cypress after completing his M.B.A. at Harvard Business School in June 2001. He began his career in 1994 as a corporate analyst in the investment banking division of Lehman Brothers, Inc. In 1997, he joined Cypress where he focused primarily on general industrial opportunities. Mr. Sullivan graduated in 1994 from Williams College with a B.A. in economics and political science.
The Cypress Group manages two private equity funds with more than $3.5 billion in commitments. Cypress invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth. Investments made by Cypress include Cinemark USA, Inc.; Amtrol Holdings, Inc.; Scotsman Holdings; WESCO International, Inc.; ClubCorp, Inc.; Danka Business Systems PLC; MedPointe Capital Partners, L.L.C; and Montpelier Re Holdings Ltd.