The Halifax Group Names Rick Morrow as Firm's First Operating Executive

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Jun 09, 2020, 07:00 ET

WASHINGTON, June 9, 2020 /PRNewswire/ -- The Halifax Group ("Halifax"), a leading private equity firm that partners with management to invest in entrepreneurial companies, today announced that the firm has engaged Rick Morrow as its first Operating Executive. In this role, he will bring his decades of experience to select Halifax portfolio companies, working with those companies to make transformational changes.

Mr. Morrow is a seasoned CEO and COO with over 25 years of experience leading private equity-backed global businesses in the technology, technology–enabled services, telecom, energy and education sectors. As a senior advisor to several private equity firms, he has driven sustainable change through the design and execution of high impact business improvement strategies. Mr. Morrow will continue to be engaged as a third-party consultant to provide his services through his operating company, Boulder Advisors.

"We have known and worked with Rick over many years, and a handful of our companies have worked closely with him on meaningful assignments. Those recent assignments have allowed us to witness his expertise firsthand. Management teams and Halifax professionals alike have noted Rick's dexterity in shifting seamlessly from industry to industry and his ability to work as a facilitator to accelerate key initiatives," said Scott Plumridge, Managing Partner at Halifax. "We expect Rick's involvement will expand our capacity to drive business transformation initiatives across the Halifax investment portfolio, all in accord with our history of working as non-operational partners to our management teams."

Most recently, Mr. Morrow served as the COO of Kastle Systems International, the nation's leading managed security services provider. Prior to Kastle, he had a three-year engagement as EVP Operations at WorldStrides, a provider of educational student travel programs and a portfolio company of The Carlyle Group, where he executed a turnaround and exit for the company. He also worked on a strategic plan to differentiate the products and increase margins of Carlyle's technology portfolio company, Air2Web. Earlier in his career, he co-founded and exited (or sold) several technology companies.

"We rely on the expertise of our experienced operators to guide our efforts to build better businesses. Rick brings a process-driven, patient, and thoughtful approach to each assignment for the benefit of our businesses. We are confident that his values align with our investment approach and that he will bring unique insight to Halifax's business practices," added Doug Hill, Senior Partner at Halifax.

Mr. Morrow noted, "I am excited to expand my close relationship with the Halifax team and its portfolio companies, with whom I've enjoyed partnering for some time. I look forward to continuing to work with company executives to execute on our shared business improvement strategies to build and capture value."

Mr. Morrow received a Bachelor of Arts with Honors in Economics from Stanford University, a law degree from the University of Virginia, and a Masters in Economics from the London School of Economics. He has been recognized as a leader within the Young Presidents' Organization ("YPO"), having led the Stanford GSB YPO Executive Program for two years and served as Education and Chapter Chair of the Washington, D.C. Chapter.

About The Halifax Group
Founded in 1999, The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow lower middle-market businesses with total enterprise values generally between $50 million and $300 million. Halifax specializes in equity recapitalizations, corporate carve-outs and management buyouts and invests across a variety of industries, including health and wellness, outsourced business services and franchising. The firm is headquartered in Washington, D.C. For more information, please visit www.thehalifaxgroup.com.

Contact:
Caroline Luz
Lambert & Co.
203-656-2829
[email protected]

SOURCE The Halifax Group