President & Ceo
In Chicago Growth Partners and Norwest Equity Partners portfolios, May 2004 - July 2007. Chicago Growth Partners’ investment yielded a return of 4.3x invested capital and an IRR of 63%. In Industrial Growth Partners portfolio, February 1999 – May 2004. IGP’s total IRR on their investment in Airpax was 73.77%.Airpax was a $150M leading global manufacturer of mission critical protective controls and sensors in a diverse range of end-markets including communications, power supplies, industrial, military, marine, off-road vehicle, HVAC, and alternative energy. Products included hydraulic-magnetic circuit breakers, thermostats, temperature sensors, DC-to-AC inverters, speed and position sensors,and integrated control systems. 2,800 employees in seven facilities in the United States, China, Japan and Mexico. Made three strategic acquisitions in 2005 and 2006: ED&D, a new technology start-up in multiplexing networks for the integration of sensors, controls, and systems; Dimensions Unlimited, a leader in DC-to-AC power inverters; and our joint-venture partner’s 50% share in Sanken-Airpax Co., Ltd.