Angeles Hires Finance Leader, Buys Company – Los Angeles Business Journal

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TMonths later Angeles Equity Partners LLC Closes $540 million in second series of funds, industrial-focused private equity firm brings in new venture partner

In the year November 14, the company announced the former financial officer based in Thorn Dynamic Technologies Inc. Ursula Ster He was hired as an operating partner covering finance. Stern is now responsible for evaluating new investment opportunities and overseeing the financials of the firm’s existing portfolio.

“Ursula is a highly skilled financial professional who complements and extends the capabilities of the Angelus operations team,” he said. Tim Meyer And Jordan KatzCo-Founders and Managing Partners of Angeles Equity Partners.

Stern joins a lower middle market private equity firm that focuses on industrial businesses, particularly those serving the supply chain. As the investors move around the world, practice partners act as portfolio company integrators tasked with transforming underperforming or ineffective models.

Steer comes to this role after overseeing the fundraising and financing of some of the strongest manufacturing operations in the Los Angeles area.

At Divergent Star, he led three serious fundraising rounds totaling $340 million, valuing the company at more than $1 billion.

The company has now developed a digital manufacturing system using artificial intelligence to produce cars in-house in modules. Divergent recently announced its Series D round on November 13th with $230 million in new capital.

Prior to her experience in auto manufacturing, Stern was the Chief Financial Officer for Starlink: the fastest growing business unit. Space exploration technologies, known as SpaceX. In the year From its inception in 2015 to becoming a global Internet service provider by 2020, Star has been a leader in financial planning and analysis, launching thousands of satellites into space for approximately $500,000.

According to the Wall Street Journal, Stern By 2021, SpaceX’s spin-off will generate $222 million in internet business.

Growth mode

After the second round of funding brought the firm’s total assets to $1 billion, it will be key to providing a key operational valuation for the private equity firm, which is expanding its portfolio.

A day after Star’s announcement, Angeles announced another acquisition of the platform company Data Clear Corp.Turn in a Texas-based data center cleaning service Sealco LLC.

In a tough fundraising environment for private equity firms, the relatively young firm has been put on the map this year with multiple exits from its first fund and more in the pipeline.

It was founded in 2014 Gores Group LLC Alum Angeles, which developed the industry vertical for local private equity startups, now surpasses Gores in assets under management.

In the short term, because capital markets are tight and company valuations are conservative, Steer will be tight-lipped about underwriting investments as a new operating partner. This latest fund makes approximately 10 investments.

“I look forward to partnering with such talented private equity professionals and portfolio leadership teams to drive strategic financing initiatives that can deliver exceptional operational and financial results,” said Stern.

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