NEW YORK–(BUSINESS WIRE)-–Star Mountain Capital, LLC, a specialized investment manager with approximately $3.5 billion in assets under management focused on generating premium returns from the less efficient and labor-intensive market of U.S. private small and medium-sized businesses, is pleased to announce that Gregory Summe has joined as Senior Advisor.
Mr. Summe has 30+ years of experience as an investor, operator and C-level executive with additional leadership experience through serving as a board member for multiple companies in the engineering, aerospace, finance and data analytics industries. He has completed over 200 private equity investments as an investment committee member and has also acquired or sold more than 40 companies as a company CEO.
Mr. Summe spent 5 years as Vice Chairman, Partner, and Investment Committee member of the Global Buyout group at The Carlyle Group (~$375 bn AUM). He was also a member of Carlyle’s Operating Committee.
Prior to Carlyle, Mr. Summe served as a Senior Advisor to Goldman Sachs Capital Partners. During his tenure at Goldman Sachs, he was the interim CEO of the Hawker-Beechcraft Corp (a Goldman Sachs Capital Partners portfolio company).
Before moving into private equity, Mr. Summe joined PerkinElmer (NYSE: PKI) in 1998 as President and in 1999 was elected Chief Executive Officer and Chairman of the Board. During his tenure at PerkinElmer until 2009, Mr. Summe transformed the company from a diversified defense contractor known as EG&G to a global technology leader in health sciences.
“Greg has tremendous industry, operating and investment insights that we believe will be additive to our portfolio companies, investors and team,” said Brett Hickey, Star Mountain Capital Founder & CEO. “We constantly strive to increase the probabilities of our desired results including with smart and aligned people like Greg who bring complementary experiences, resources and relationships.”
“Star Mountain’s purpose-built business model bringing larger market expertise to smaller businesses in the large and fragmented lower middle-market is differentiated and compelling,” said Greg Summe. “I am excited to work with long-time and new friends at Star Mountain to help them continue to execute against their mission of bringing as much value as possible to this underserved lower middle-market.”
Prior to joining PerkinElmer, Mr. Summe was with AlliedSignal, now Honeywell International, serving as the President of General Aviation Avionics, President of the Aerospace Engines Group and President of the Automotive Products Group. Before joining AlliedSignal, Mr. Summe was the General Manager of Commercial Motors at General Electric and was a Partner with the global consulting firm McKinsey & Company, Inc.
Current public and private board roles include NXP Semiconductors NV (NASDAQ: NXPI) where he is the Chairman of the Compensation Committee, State Street Corporation (NYSE: STT) where he is the Chairman of the Strategy Committee, Avantor Inc. (NYSE: AVTR) where he is the Chairman of the Nomination & Governance Committee and Pella Corporation where he is the Chairman of the Compensation Committee.
Mr. Summe holds B.S. and M.S. degrees in electrical engineering from the University of Kentucky and the University of Cincinnati, as well as an M.B.A. (with distinction) from the Wharton School at the University of Pennsylvania. He is in the University of Kentucky’s Hall of Distinction.
About Star Mountain
With over $3.5 billion in assets under management (committed capital including debt facilities as of 10/31/2023), Star Mountain takes a data-driven approach to investing into the North American lower middle-market through two complementary investment strategies: (i) direct debt and equity investing and (ii) secondaries (acquiring LP interests and direct assets and making primary LP commitments) and NAV loans to funds. Star Mountain believes these complementary strategies provide data-enhanced, scalable, diversified, and customizable access for its institutional and high-net-worth investors to established businesses that generally have at least $15 million in annual revenues and under $50 million in EBITDA. Its investors include public pensions, private pensions, insurance companies, commercial banks, endowments, foundations, family offices and high-net-worth individuals. Star Mountain is 100% employee-owned and shares its profits with 100% of its U.S. full-time employees as part of its focus on maximizing value for its stakeholders and investors through alignment of interests.
Since 2010 through October 2023, Star Mountain has made over 200 direct investments in businesses and over 40 secondary / fund investments within its Collaborative Ecosystem®, focused on the North American lower middle-market. One of Star Mountain’s specialties is seeking current cash income for investors that is materially above the typical yields found in the public markets, often accompanied with potential long-term capital gains equity returns and low correlation to public markets through its distinctive origination, underwriting and value-added investment capabilities.
Star Mountain was recently named one of the Inc. 5000 fastest-growing private companies in America.