Carousel Capital announced today that Adam Elmore, who had joined the firm in August 2017 as a Principal, will lead the firm’s business development and investment origination efforts. Mr. Elmore follows William T. Hobbs II, the firm’s previous leader in this role, who retired as a Managing Partner at year-end following a successful 15 year career at the firm.
“We are grateful for the years of partnership we shared with Bill and appreciate all his contributions to the firm,” said Charles S. Grigg, Managing Partner. “We look forward to continuing to build on Carousel’s platform which has taken years of focus and a long track record of success to develop.” Jason C. Schmidly, Managing Partner, added, “Carousel’s direct sourcing dialogue with companies in the region is unusual and we are confident Adam will continue to utilize our story to identify more great companies that could benefit from Carousel’s relationship-based approach to private equity.”
In Mr. Elmore’s role, he is responsible for originating, assessing and developing investment leads and relationships with companies. He will also develop and maintain relationships with entrepreneurs, investment bankers, attorneys, accountants, financing providers and other sources of opportunities. Mr. Elmore joins Brooke Adams, a Vice President with the firm, who also focuses on deal origination efforts as they team to continue Carousel’s 20+ year effort of investing in companies located in the Southeast.
“I was immediately drawn to the Carousel Capital story because it included a rich history of directly developing relationships with companies in its portfolio over a long period of time,” said Mr. Elmore. “While all private equity firms talk about the importance of partnership with management, Carousel’s track record provided a highly successful demonstration of this idea in action, and I am excited to share this story with more business leaders across the region.”
Mr. Elmore joins the firm from BlackArch Partners, a sell-side mergers and acquisitions firm where he lead the firm’s private company advisory practice, a proprietary business unit within the firm that focused on establishing and building client relationships with owner-operators, family businesses, and management teams. Mr. Elmore received a Bachelor of Arts in History from Davidson College and a Master of Business Administration from the Fuqua School of Business at Duke University.
About Carousel Capital
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 38 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.