Microcap investor Shore Capital Partners has hired Brad Morehead as partner and head of the firm’s recently-closed business services fund.
Morehead will lead the deployment of the firm’s industry-focused funds, including investment sourcing, valuation, transaction structuring and corporate development.
Shore, which closed its debut business services fund on $213m in July, said the team would initially target nine main industries including pest control, outsourced retirement/benefits services, logistics and fire and life safety services.
Morehead was previously CEO of Assembly Health, a tech-enabled management services organization focused on clinicians and facilities providing post-acute care. He was also CEO of security company LiveWatch and CFO of home renewal company Feldco Factory Direct.
He also worked for San Francisco-based private equity firm Friedman Fleischer & Lowe and in investment banking with Goldman Sachs.
Justin Ishbia, managing partner at Shore, said, “Brad’s impressive track record and deep understanding of business services will be a key driver of our growth. His entrepreneurial and leadership background, paired with his passion for partnering with founders, is center of the target for our firm strategy to support great small businesses with oversized investment, operational and network resources to de-risk the investment and accelerate success. We look forward to all Brad will accomplish adding to our current portfolio of 27 companies, encompassing 17,000 employees.”
Shore Capital focuses on the microcap market investing in companies with EBITDA of between $1m and $10m.
The firm soared pass the $2bn mark for capital under management in July through the triple close of the business services fund, the $366m Shore Capital Healthcare Partners Fund IV and a $107m real estate fund.
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