New Partner at Arsenal
NEW YORK, Jan. 24, 2017 /PRNewswire/ — Arsenal Capital Partners, a leading New York based private equity firm that invests in middle market specialty industrials and healthcare companies, announced today that it has expanded its team with the addition of Joseph M. Salley, former Chief Executive Officer of Milliken & Company, as an Operating Partner working within the firm’s Specialty Industrials Group.
Dr. Salley served with Milliken & Company for 20 years, holding a variety of positions at this leading, privately-held, multi-billion-dollar, diversified industrial company. Most recently, he served as President and CEO since 2008. Prior to that, he served as Chief Operating Officer since 2006. Milliken has 5,000+ patents worldwide, 35+ manufacturing facilities globally, and more than 7,000 associates. Throughout this same period and in the 14 years prior, he overhauled Milliken’s business portfolio, investing in growth businesses while exiting several businesses. He was also responsible for numerous acquisitions, integrations, business re-positionings and exits. Dr. Salley received a B.S. in Chemistry from The Citadel and an M.S. and PhD. in Chemical Engineering from Stanford University.
Terry Mullen, Arsenal Co-Founder, Partner and Co-Head of Arsenal’s Specialty Industrials Group commented, “We are delighted to have Joe Salley join our Specialty Industrials Group, which is the leading private equity franchise in Specialty Chemicals and Specialty Materials and specializes in building high-growth, technology-rich middle market companies. Over the past 16 years, Arsenal has completed more than twice the number of platform acquisitions, add-ons, and exits than anyone in private equity, and has generated industry leading returns. The firm’s integrated model, combining leading investment, industry and operating expertise, and collaborative culture continue to make Arsenal a destination of choice for top industry CEO’s and executives. Joe’s addition augments our industrials domain and technical expertise and positions us to continue our long-term leadership in the industry.
John Televantos, Arsenal Partner and Co-Head of Arsenal’s Specialty Industrials Group said, “After an extensive search process, we are extremely pleased to have Joe Salley join our team. Joe is an exceptional CEO who brings the full spectrum of leadership and managerial capabilities and experiences to his Operating Partner role at Arsenal. Joe has proven strategic acumen, excellent technical and domain expertise in chemicals and materials, and a track record creating value in businesses. Importantly, Joe also has a wonderful, engaging style blending both confidence and humility that will be very effective with Arsenal’s culture and approach to company building.”
Tim Zappala, Arsenal Partner and Co-Head of Arsenal’s Specialty Industrials Group said, “Dr. Salley had a strong eight-year tenure as CEO of a company whose breadth of technology and products includes specialty chemicals, polymers, and performance materials. His technical training and experiences are a great fit with Arsenal’s focus on technology-rich companies serving diverse end markets including industrials, construction, medical and consumer. Joe will also give us additional depth and skill in overseeing and shaping small- to mid-sized businesses into market leading companies.”
Arsenal recently completed fundraising for its latest fund, Arsenal Capital Fund IV, at its hard cap of $1.3 billion of committed capital.
About Arsenal Capital Partners
Established in 2000, Arsenal Capital Partners is a leading New York based private equity firm that specializes in investments in middle market specialty industrials and healthcare companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100-500mm initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For additional information on Arsenal Capital Partners, please visit. www.arsenalcapital.com.