Daily News: October 16, 2014

Carl Marks Partners with Sand Oak Capital

Carl Marks entered into a new partnership, the first in its renewed drive to build businesses on its platform. The partnership is with Sand Oak Capital, a private equity firm that acquires privately held industrial and manufacturing businesses in the U.S. Rust Belt.

In the case of Sand Oak, Carl Marks is working with partners Jeremy Schwimmer and Jeff Mizrahi to seize attractive opportunities in their area of focus, supporting existing ownership or management teams of U.S. industrial businesses by providing strategic and operational support and investing $10 million to $50 million of equity.

“We pride ourselves on bringing broad experience and deep resources to proven and energetic investment professionals looking for a home for to build their businesses,” said Katherine Boas, EVP of Carl Marks and a fourth-generation family member helping to run the firm. “We see many talented investment managers exploring taking their businesses to the next level. We believe the backing of a partner like Carl Marks creates an easier path to success.”

“We have been in the business of building investment businesses for decades,” said Mark Claster, president of Carl Marks. “We are excited to partner with Sand Oak as the first of what we hope will be several new businesses that will thrive in partnership with Carl Marks for years to come.”