New State Capital Partners today announced the addition of four new executives. Kurt Lentz joins as Principal, Erika Jung has joined as Vice President, Operations/Lean, Josh Skevington will be Vice President, CFO Activities, and Shaun Vasavada is Associate.
“We are very pleased to welcome these four new members to our team,” said David Blechman, Founder and Senior Principal of New State Capital Partners. “We recently closed our second fund at $255 million and the appointments of Erika, Josh, Kurt, and Shaun expands our team to an appropriate size and capacity for sourcing and analyzing investments as well as to support our portfolio companies.”
Kurt Lentz brings 17 years of experience in private equity, principal lending, and investment banking. Previously, Mr. Lentz was a Principal with Atlantic Street Capital Management, an operationally-oriented lower middle market private equity fund. Prior to that, he was a Principal at Sun Capital Partners. Mr. Lentz was also previously an Associate with American Capital Strategies, and began his career as a member of CIBC World Markets’ Los Angeles-based Corporate and Leveraged Finance Group.
Erika Jung joins with 30 years of experience across Telecommunications, Medical Device and Healthcare Industries, with global supply chain experience in Strategic Sourcing, Lean Process Re-engineering, Supply Chain Optimization and Logistics management. Most recently, Ms. Jung was VP, Supply Chain Operations and Lab Integration at National Dentex, an asset owned by Welsh Carson, Anderson & Stowe. She began her career at Nortel Networks where she spent 18 years, ultimately leading the Global Accounts Supply Chain organization in Asia Pacific. Ms. Jung previously worked at Beckman Coulter, a Danaher company, spearheading restructuring and Supply Chain optimization. She earned her Chartered Professional Accounts certification from CPA Canada and is a certified Lean Six Sigma Black Belt.
Josh Skevington has more than 20 years of experience in executive management and investment banking. He has transactional and operational experience across a wide range of industries including construction, real estate, manufacturing, food products, retail sales, demolition and remediation, and more. Prior to joining New State Mr. Skevington was the CEO of a manufacturer and distributor of durable and consumable products. Previously, he spent almost 13 years at Alvarez & Marsal acting as interim management, leading corporate turnarounds and as an investment banker completing M&A, capital raises, and balance sheet restructurings.
Shaun Vasavada has six years of M&A and corporate finance experience. Prior to joining New State, he was on the Corporate Development team of Marsh & McLennan Agency, the middle-market subsidiary of Marsh, Inc., the world’s largest insurance broker. Mr. Vasavada was previously in the Transaction Advisory Services group at Duff & Phelps, providing financial due diligence and advisory services for buy-side and sell-side M&A transactions. Shaun began his career in the Corporate Finance division at Boeing.
About New State Capital Partners LLC
New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be more nimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible about the structure of its investment and focuses on growth and add-on investment. New State seeks to invest in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, healthcare services and industrials. With over $800 million in assets under management, New State can commit more than $50 million of equity capital per transaction through New State Capital Partners II, LP. New State and its affiliates have invested in 18 companies to date. For more information visit www.newstatecp.com.
