Parthenon Capital LLC

THE SCOOP

10 years strong

Parthenon Capital has been in the private equity game since March 1998 when it was founded by industry veterans John Rutherford and Ernest Jacquet.  At that time, the firm has amassed over $2 billion in capital and has invested in 26 companies and gained a name for itself as a small but stable force in the private equity business.

Parthenon invests in middle-market companies with values of $50 million to $500 million.  Typical portfolio companies operate in the following sectors: financial services, health care, distribution/logistics and technology-enabled services.  The firm has locations in Boston and San Francisco and employs approximately 40 investment professionals.

New beginnings

Parthenon Capital's first investment of 2008 was in a newly formed anesthesia revenue cycle management company called Abeo Inc.  Abeo is the result of the merger of three anesthesia reimbursement companies: Professional Management Gropu, Summit HMR and MedSuite.  Each of these companies was a leader in their respective fields.

Parthenon formed its newly owned company in January 2008 when it teamed up with Century Capital, another midmarket private equity firm, to launch Ascension Insurance, a retail brokerage.  The partners at both companies had been interested in opening an insurance brokerage for some time and found the right formula and management recently.  The problem of management was solved with the hire of Len Kline, former CEO of Compass Insurance.

Making changes

Parthenon Capital follows a strategy it calls “Full Potential†in its private equity investors.  “Full Potential†means working to be a strategic partner to management and going above and beyond the standard “value-added†approach to private equity.  Sometimes, working with management, however, may include improving the current management.  This was the case with one of Parthenon's latest investments, Captive Media Holdings.  In June 2008, a little more than two months after Parthenon announced its investment in Captive Media, the company replaced its sitting CEO.  On Parthenon's website, the firm announced the appointment of Kenneth S. Williams as the key to Captive Media's “next significant growth phase.â€


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Parthenon Capital LLC


265 Franklin Street
18th Floor
Boston, MA 02110
Phone: 617-960-4000
Fax: 617-960-4010
www.parthenoncapital.com

STATS


  • Employer Type: Private
  • Co-Founders: Ernest K. Jacquet & John C. Rutherford
  • 2006 Employees: 47

Major Office Locations

  • San Francisco, CA
  • Boston, MA

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