Summit Park Portfolio Companies NSI Industries and Tennessee Industrial Electronics Make Key New Hires
Summit Park, a Charlotte-based private equity firm focused exclusively on the lower middle market, is pleased to announce key additions to the management teams of NSi Industries ("NSi") and Tennessee Industrial Electronics ("TIE"). Tom Connotillo joins NSi as Vice President of Finance. At TIE, Jeremiah Bishop joins as Vice President of Finance and Steven Bruce joins as Vice President of Operations.
NSi Industries, headquartered in Huntersville, North Carolina, is a leading designer, manufacturer and marketer of a wide variety of electrical connectors, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. Mr. Connotillo joins the company after having a career in public accounting, as well as working in the manufacturing sector where he has been a financial leader in mid-size and global organizations.
"The hiring of Tom Connotillo as the Vice President of Finance reflects NSi Industries continued commitment to build an executive management team around proven industry leaders," states Bruce Bittner Chief Executive Officer at NSI Industries. "Tom's background in public accounting, experience in managing process improvements, and excellent track record as a leader will make him a valuable asset to both NSI Industries and with the investment community."
Summit Park partnered with NSi in 2012.
Tennessee Industrial Electronics, headquartered in La Vergne, Tennessee, is a leading provider of parts and repairs for CNC Systems specializing in refurbished FANUC aftermarket parts such as controls, motors, and drives. Mr. Bishop brings a strong finance and accounting background to TIE. His career includes accounting and treasury roles at Yum! Brands, FP&A and supply chain finance experience at Honeywell International, and most recently he served as Sr. Financial Director at Save-A-Lot Food Stores in St. Louis, Missouri. Mr. Bishop earned his MBA from the University of Louisville. Mr. Bruce brings a wealth of experience with designing, implementing, and improving lean processes. He spent time early in his career with Banc of America Securities in equity capital markets and equity research before earning his MBA from Harvard Business School. Subsequently to that he held positions of increasing operational leadership responsibility with Sears Holdings Corporation in the area of multi-channel, merchandise planning/inventory, project management, strategy, and margin performance.
"We are excited to welcome both Jeremiah and Steven as key members of our management team," said TIE Chief Executive Officer Douglas Peterson. "Both of their personalities and styles fit perfectly within the TIE culture and they each bring a breadth of experience that will be instrumental as we install scalable processes and controls to support our aggressive growth plans."
Summit Park partnered with TIE in 2014.
Please reach out to Rachel Hannon at (704) 654-3400 ext. 240 or firstname.lastname@example.org with any questions about Summit Park, its portfolio companies, or investment opportunities.
NSi is a leading supplier of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. The company's products are sold to end users primarily through the electrical distributor channel, and NSi enjoys broad placement at over 5,000 branch locations throughout the United States and Canada. The Company is headquartered near Charlotte, North Carolina. www.nsiindustries.com
Tennessee Industrial Electronics ("TIE") is a leading provider of parts and repairs for CNC Systems. TIE specializes in refurbished FANUC aftermarket parts such as controls, motors, and drives and holds an extensive inventory of over 50,000 parts. The company sells to a variety of machine tool end users and resellers across the United States and internationally. TIE is headquartered just outside of Nashville, Tennessee. www.fanucworld.com
About Summit Park
Summit Park is a Charlotte, North Carolina based private investment firm focused exclusively on lower middle market businesses. The firm invests across a wide range of industries, including business services, outsourced services, light manufacturing and distribution. Summit Park targets businesses with revenue between $20 and $100 million and located in the Mid-South, Mid-Atlantic and Southeastern regions of the United States. www.summitparkllc.com
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