DLJ Merchant Banking Partners has opened an office in Troy, Michigan to focus on the Midwest industrial services sector.
The New York-based private equity arm of Credit Suisse said in a statement former Questor Management partners John Janitz and Dominick Schiano would be based in the office. The pair were part of DLJ’s $440 million (€282 million) acquisition of specialty manufacturer RathGibson from Castle Harlan last year. Janitz was previously co-managing principal of Questor, a turnaround investment firm company and a former president and chief operating officer of the $13 billion company Textron. Schiano was a managing director at Questor and previously held executive positions at Textron.
“The concentration of opportunities in the industrial sector in the Midwest and throughout the mid-section of the country makes opening this office a natural step for DLJMB,” said Janitz.
DLJ said it would focus on mid-market “control investments” of up to $200 million. Schiano added: “We believe that adding a hub in the Midwest from which to source transactions and manage portfolio company growth will significantly benefit DLJ’s business.”
The new office is located at Suite 950, Columbia Center, 201 West Big Beaver Road, Troy, MI 48084.