McCarthy Capital Fund V Sponsors a Management Buyout of Altair Global Relocation
Plano, TX – December 21, 2012 – McCarthy Capital Fund V announced today that it has sponsored a management buyout of Altair Global Relocation. McCarthy Capital Fund V is a private investment firm based in Omaha, Nebraska. The existing senior management team partnered with McCarthy in purchasing the business from the family of Altair co-founder Gail Plummer who will retain a significant ownership interest in the company.
Altair will continue to operate with the same service focus and values that have made the company so successful. “We are extremely pleased to have McCarthy Capital as an equity partner,” said Ms. Plummer. “Their involvement along with the commitment of our existing management team is a positive move forward that will facilitate our ability to continue to grow the company and to expand Altair’s capabilities globally.”
Effective immediately, Dennis O’Gara will assume the role of Chief Executive Officer. Chad Sterling will now be Chief Financial Officer and Chief Operating Officer. “The same employees and management team who have been responsible for our past successes will continue to lead the company into the future. Their leadership, along with the support of McCarthy Capital, strengthens our commitment to invest in our people, services, and technology,” stated Mr. O’Gara.
“We are very pleased to partner with management of Altair and the Plummer family,” said Patrick Duffy, Managing Partner of McCarthy. “We were particularly attracted to the team’s cultural commitment to serve their customers and we look forward to supporting the company’s continued growth.”
About Altair Global Relocation
Founded in 1989, Altair Global Relocation is an independent, full-service relocation management company offering a comprehensive selection of U.S. and international mobility solutions. Altair’s clients are some of the most recognized names in today’s global business community. Altair services are coordinated from U.S. regional service centers in Plano, Texas; Shelton, Connecticut; Walnut Creek, California; and Minnetonka, Minnesota; and from our EMEA and APAC regional service centers in London and Singapore. The global headquarters office is in Plano, Texas. Please go to www.altairglobal.com for additional information about Altair Global Relocation.
About McCarthy Capital Fund V
McCarthy Capital Fund V is managed by McCarthy Partners Management, LLC, an affiliated RIA of McCarthy Capital (“McCarthy”). McCarthy is an Omaha-based private equity firm focused exclusively on partnering with management teams. For more than 25 years, the McCarthy organization has been partnering with founders, families, and exceptional management teams to support the growth of their companies. For more information, please visit www.mccarthycapital.com.