The Watermill Group, a strategy-driven private investment firm, promoted three team members to executive leadership roles. Effective immediately, Watermill principal Julia Karol has been appointed president and COO, and principal Michael Fuller is now CFO. In addition, after two years serving as the firm’s director of transactions, Matthias (Matt) Bergin will assume the role of Watermill principal.

“We are thrilled to announce the promotion of three highly talented and respected members of the Watermill team. Together with the firm’s existing partners and leaders, Julia, Mike and Matt will ensure Watermill’s hallmark integrity, work ethic and strategic insight are protected and enriched for years to come,” said Steven E. Karol, managing partner and founder, Watermill. “Over our nearly 40 years of acquiring and operating businesses, we have always worked together as a team to create sustainable and long lasting value on behalf of our companies. Today’s promotions help ensure Watermill’s vision and culture continues to drive our business forward.”

Karol will be responsible for overall firm operations and will help Watermill portfolio companies develop and implement their strategies. Previously, as a Watermill principal, Karol helped guide the day-to-day operations of the firm, directed the firm’s investor relations and managed fundraising initiatives for acquisitions. Prior to joining Watermill, Karol worked at Jumpstart, a national education nonprofit.

In addition to his role as principal, Fuller will be responsible for the financial quality and strength of the firm and its portfolio companies. Fuller has more than 20 years of experience in operations, financial and turnaround management. Prior to joining Watermill, Fuller served as director at Phoenix Management Services, a turnaround and capital advisory firm and as president and CEO of York Manufacturing, a manufacturer of building products in the commercial and residential construction market. Fuller is an active member of ACG and the Turnaround Management Association (TMA).

Bergin will expand his transaction oversight responsibilities, which include the evaluation, due diligence and execution of potential transactions as well as providing project-specific assistance to portfolio companies. Prior to joining Watermill, Bergin worked as an associate in the Private Fund Advisory Group at Lazard Frères in New York. Prior to Lazard, Bergin was a senior associate at Newbury Partners, a private equity firm specializing in the secondary market.

The Watermill Group is a private investment firm.