Carousel Capital announced today that Peter L. Clark, Jr. and Alan C. Welch, Jr. were named Partners at the firm, effective immediately. Both are being promoted from their current roles as Principals with the firm.
“We have worked hard to build Carousel Capital with the right people and are pleased to name Peter and Al as Partners for the firm – the first such promotions in over a decade,” said Charles S. Grigg, Managing Partner. “Jason and I have enjoyed working with Al and Peter for 10 and 15 years, respectively, and have watched them grow into investment professionals that understand what it truly means to partner with Carousel’s management teams. We also have appreciated their contributions to the unique culture we have created at Carousel and are excited about their expected development and success in their new roles.”
“I join Charles in the excitement of welcoming Peter and Al as Partners at the firm,” said Jason C. Schmidly, Managing Partner of Carousel Capital. “They have exhibited the incredible work ethic, integrity and judgment that this role requires and we are proud of them both. I look forward to working with both Al and Peter as they expand their responsibilities within the firm and in originating and managing investments. Along with other recent additions to Carousel, this promotion is an important step in our strategic plan to build the firm.”
Mr. Clark joined Carousel in 2003. Previously, Mr. Clark worked in mergers and acquisitions at Harris Williams & Co in Richmond, Virginia. Mr. Clark has worked on a variety of successful investments in different sectors and currently sits on the Board of Directors of Huseby, Consolidated Claims Group, Joe Hudson’s Collision Center, Expedited Travel and Apex Analytix. Included among Mr. Clark’s former portfolio company responsibilities are Southeastern Automotive Aftermarket Service Holdings and Mergent. Mr. Clark holds a Bachelor of Arts in Economics with a concentration in Applied Mathematics from Davidson College.
Mr. Welch joined Carousel in 2008. Prior to joining Carousel, Mr. Welch worked in private equity at Arcapita and for the investment banking division of BB&T Capital Markets. Mr. Welch’s current Board of Directors and portfolio company responsibilities include Caldwell & Gregory, Advantage Software and Pye Barker Fire and Safety. Included among Mr. Welch’s previous portfolio company responsibilities are Copac Global Packaging, AGDATA, LLC, Hepaco and Transflo. Mr. Welch received a B.S. in Business Administration from the University of South Carolina and an MBA from the Darden School at the University of Virginia.
Carousel Capital is a private equity investment firm that invests in companies located in the Southeastern United States and has received commitments of more than $1.2 billion in capital across its funds. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs across the region. Since its inception, Carousel has invested in 37 companies primarily in three service sectors: business, consumer and healthcare.