Plexus Capital Names Michael Painter As Managing Partner

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Sep 02, 2014, 08:00 ET

CHARLOTTE, N.C., Sept. 2, 2014 /PRNewswire/ -- Plexus Capital announced its partners have appointed Michael Painter as Managing Partner. Painter, one of five founding partners, was promoted as part of a long-planned transition and succeeds Bob Anders, who has served as Managing Partner since the firm's inception in 2005.

Michael Painter, managing partner of Plexus Capital (PRNewsFoto/)

Plexus Capital logo (PRNewsFoto/)

Under Anders' leadership, Plexus invested $365 million, partnered with 61 small businesses, and raised more than $550 million. Anders will remain a full-time partner and member of the investment committee, as will all other founding partners, Kel Landis, Mike Becker and Robert Gefaell.

"Michael is the right person for the job," Anders said. "He is immensely qualified and has the unanimous support of our team. This transition is part of our commitment to building an institutionally driven firm with significant management depth. We are intensely committed to doing both."

Painter has worked closely with Anders and the other founding partners since their time together at Centura Bank in the mid-1990s. "Enduring relationships are at the core of everything we do, with our portfolio companies, our investors and our team," Painter said. "Over the past decade, that is how we've built Plexus. We will continue making substantial investments to develop our professionals as we prepare our next generation of leadership."

Named 2013 US Small Business Investment Company of the year, Plexus has a committed and growing investor base, including 45 banks, 115 individuals, and 6 institutions. Investors from Plexus' first two funds increased commitments by more than 150% in Plexus Fund III, a $300 million fund raised in 2013. Plexus has deployed $95 million in 11 companies from its current fund and actively seeks additional opportunities to partner with profitable small businesses with $10 – 100 million in revenue.

About Plexus Capital
With offices in Charlotte and Raleigh, Plexus Capital has $550 million under management and partners with small businesses across the United States. For more information see www.plexuscap.com.

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SOURCE Plexus Capital