Challenges in Middle Market
PE and Early Stage VC Investing:
New Ideas and Strategies

Perspectives of Portfolio Company CEOs

Eric Affeldt
President and CEO, ClubCorp

Eric is responsible for all aspects of domestic and international operations for “The World Leader in Private Clubs”. Prior to joining ClubCorp, Eric served as a principal of KSL Capital Partners, the private equity firm that purchased ClubCorp in 2006. Affeldt also previously served as president and CEO of KSL’s former golf division, KSL Fairways; vice president and general manager of Doral Golf Resort and Spa in Miami and the combined PGA West and La Quinta Resort and Club in California; and was a founding partner of KSL Recreation. In addition, Eric was president of General Aviation Holdings, Inc. He is currently an MDA Vice President and a member of the World Presidents Organization. He serves as Non Executive Chairman for the Cedar Fair Entertainment Company (NYSE:FUN). In 2010 Eric was named the most powerful person in golf by Golf Inc. magazine and was a regional finalist for the Ernst & Young Entrepreneur of the Year award. In 2013 Eric was awarded the prestigious Cecil B. Day Ethics Award by the Dedman School of Hospitality at Florida State University. Eric is the former manager of the Belgian National Baseball team. He holds a B.A. in Political Science and Religion from Claremont McKenna College.

Dennis Klumb, Jr.
President & CEO, KS Energy Services

Dennis Klumb, Jr. serves as President and CEO, and is a Principal of KS Energy Services, LLC located in New Berlin, Wisconsin. KS Energy Services is part of PowerTeam Services (PTS) whose majority shareholder is Kelso & Company.

PTS provides a comprehensive suite of services for the recurring repair, replacement, maintenance and installation of natural gas and electric transmission and distribution infrastructure. PTS provides services through five operating units: KS Energy Services, Southeast Connections, T&D Solutions, Associated Diversified Services and Distribution Construction. Collectively, the company has more than 3,000 employees across 28 states from Colorado to the Southeast with revenues of more than $550mm in 2013.

Dennis began his career in the energy industry working for their former family business, Arby Construction, achieving the position of President. In 2000 Dennis and his family sold Arby to Quanta Services (PWR) where he continued as President. He was later promoted to Vice President of Gas Operations for Quanta Services from 2002-2004 before resigning his positions to help co-found KS Energy Services in 2005. He earned a B.A. degree from Marquette University and a law degree from Hamline University. Before re-entering the energy industry in 1996, he worked as a litigation attorney in Los Angeles and is a member of the California and Wisconsin State Bars.

He currently serves on the Board of Directors of PowerTeam Services, Executive Board of the Midwest Energy Association as Treasurer, Board of Directors for the Wisconsin Underground Contractors Association and is a past President and is a Director on the Interstate Natural Gas Association of America (INGAA). He and his wife Pam reside in East Troy, Wisconsin with their three children.

James Covert

James Covert is currently a member of the Protection One Board of Directors. Protection 1 is GTCR’s third investment with Mr. Covert in the electronic security industry. Mr. Covert has more than 25 years of experience in the electronic security industry, including founding and growing leading security companies in the U.S. and overseas. In 1987, Mr. Covert founded SecurityLink Midwest Corp., which he built into one of the nation’s largest alarm monitoring companies. Mr. Covert sold the company to Ameritech in 1994, staying on as CEO of the Ameritech subsidiary until 1996. In 1996, Mr. Covert founded Signature Security Group (“Signature”) in Australia, which through acquisitions and internal growth became one of the largest electronic security companies in Australia and New Zealand. Mr. Covert left Signature and founded Cambridge Protection Industries (“Cambridge”) in partnership with GTCR in 1999. Through aggressive acquisitions, Cambridge quickly became the second largest electronic security group in the U.S., with operations in more than 40 states. In 2001, Mr. Covert sold Cambridge to ADT Security Services, Inc. In 2004, Mr. Covert again partnered with GTCR, returning to the security industry as CEO of HSM Electronic Protection Services (“HSM”). HSM was acquired by StanleyWorks in 2007.

Sloan Evans
CEO Pure Barre

Sloan Evans joined the Pure Barre team in 2012 as Chief Executive Officer. Prior to joining Pure Barre, Sloan was the Chief Financial Officer of Johnson Development Associates, a real estate development company based in South Carolina that has developed and managed approximately 20 million square feet of retail, office, apartment and industrial properties across the Southeast and Mid-Atlantic. In addition, Sloan led the management of American Storage, a chain of 31 self-storage facilities located in the Carolinas and Georgia. As part of the senior management team of both companies, Sloan was involved with the development, operations, finances, and corporate strategy across all divisions. Prior to joining Johnson Development, Sloan held various positions in the commercial banking industry. He is a graduate of Washington and Lee University. Sloan is married and has three young children.