BNET Industries

Last Fiscal Year Sales:$1.5B
  • Private
  • US
Dow Jones Description

North Castle is a leading private equity firm focused exclusively on consumer-driven product and service businesses that benefit from two long-term trends: (i) "Healthy Living" or the desire to live healthier, longer and more active lives, and (ii) the "Aging" of the Baby Boomer generation, which is expected to foster strong growth in segments of the consumer industry. These predictable and irreversible trends are fueling consumer interest and significant growth in our target markets. North Castle makes control private equity investments in consumer-driven product and service companies located in North America, with enterprise values ranging from $50 million to $500 million. Our target markets often include industries that are highly fragmented providing opportunities to build market leaders and create value through leveraged buyouts, growth capital infusions and strategic acquisitions. North Castle is a hands-on, value-added investor. We utilize our cumulative knowledge and network, which results from our industry focus, to partner with management and entrepreneurs to create market-leading companies. The strength of our focused approach yields significant benefits to our partners and portfolio companies. North Castle is led by a seasoned group of three managing directors, who have spent more than seven years working together, and are supported by six additional investment professionals. ...

Operating Advisor, Chairman & CEO, Grand Expeditions
Arthur H Warshaw
Number of Employees 20
Contact Information

183 East Putnam Ave

Greenwich, Connecticut 06830

www.northcastle...

(203) 862-3200

NAICS Code Fruit and Vegetable Canning: 311421

Decision Makers

Name (plus bio) Position
Jane Pemberton Operating Advisor and CEO
Alyse Skidmore Chief Financial Officer
John McCarthy Executive Director of the International Health, Racquet, and Sportsclub
Charles F. Baird Managing Director
Douglas W. Lehrman Managing Director
James D. Eason Managing Director
Louis E Marinaccio Managing Director
Richard Gersten Managing Director
Lorri Garnett Controller
Alan George Associate
Alison Minter Principal
Augustine L Nieto II Operating Advisor
Britt-Mari Boigris
David Weston
Ellen R. Marram Operating Advisor
Gil Pritchard Advisor
Grace Fu
Ira Brind Operating Advisor
Jay Wilkins Associate
Jean Roberts
Jeffrey E. Stiefler Operating Advisor
John Bailey Associate
John W Young Operating Advisor
Jonathan Canarick Associate
Ken Dychtwald Operating Advisor
Marc Magliacano
Martin Goehringer
Pamela Peeke Operating Advisor
Peter Roy Operating Advisor
Robert Haisch Associate

Board of Directors

Name (plus bio) Position
Arthur H Warshaw Operating Advisor, Chairman & CEO, Grand Expeditions
Dennis F. Madsen Board of Directors
Dennis Jenson Board of Directors
Gale Bensussen Board of Directors
Michael Morris Board of Directors

Organization Position Status
North Castle Partners, L.L.C. Operating Advisor, Chairman & CEO, Grand Expeditions Current
Red Door Spas Inc Chairman Current
Red Door Spas Inc Board of Directors Current
North Castle Partners, L.L.C. Operating Advisor Former
The Moorings Former
North Castle Partners, L.L.C. Board of Directors Former
The Warnaco Group, Inc. Member Former

Organization Position Status
North Castle Partners, L.L.C. Operating Advisor and CEO Current
North Castle Partners, L.L.C. Board of Directors Current

Organization Position Status
North Castle Partners, L.L.C. Chief Financial Officer Current
Young Corporation Senior Manager Former
Ernst & Young senior manager Former
North Castle Partners, L.L.C. Finance Executive Former
Hofstra University Law School J.D. Former

Organization Position Status
North Castle Partners, L.L.C. Executive Director of the International Health, Racquet, and Sportsclub Current
North Castle Partners, L.L.C. Board of Directors Current

Charles F. Baird, Jr., North Castle's founder, has spent the last 25 years as an investor and consultant partnering with Chief Executive Officers to improve their companies' operating performance and shareholder returns. Mr. Baird began studying the emerging Healthy Living & Aging trends more than 10 years ago with strategic partners at Bain & Company, Adams, Harkness & Hill and Age Wave. Mr. Baird founded North Castle Partners in 1997 specifically to pursue opportunities in this dynamic new marketplace. He serves as chairman of the board of directors for four North Castle portfolio companies: gloProfessional, Leiner, Enzymatic Therapy and Octane Fitness. Mr. Baird also serves on the board of Performance Inc. and Red Door Spas and has served on the boards of directors of CRC Health, Equinox, GEI and Naked Juice. Mr. Baird is a trustee of The Alger Fund and the Prostate Cancer Foundation. Prior to founding North Castle, Mr. Baird served as a Managing Director of AEA Investors LLC, where he was involved in initiating, negotiating, financing, monitoring and exiting principal investments. From 1978 to 1989, Mr. Baird worked at Bain & Company, where, as an Executive Vice President and North American Management Committee member, he was involved in developing strategy and implementing profit improvement initiatives for companies in the health care, forest products, packaging, publishing, chemicals, food, plastics and textile industries. From 1975 to 1977, Mr. Baird worked in mergers and acquisitions at The First Boston Corporation. He received an A.B. from Harvard College and an M.B.A. from Harvard Business School.

Organization Position Status
North Castle Partners, L.L.C. Managing Director Current
North Castle Partners, L.L.C. Founder Current
Phytopharmica, Inc. Chairman of the Board, and North Castle's Founder Current
Hdl Booster Chairman of the Board, and North Castle's Founder Current
Enzymatic Therapy Inc. Chairman of the Board, and North Castle's Founder Current
Leiner Health Products, Inc. Chairman of the Board of Directors Current
Yourlife Vitamins Chairman of the Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
World Health Club Board of Directors Current
Red Door Spas Inc Board of Directors Current
Performance Inc. Board of Directors Current
The Prostate Cancer Foundation Board of Directors Current
Octane Fitness Board of Directors Current
The Prostate Cancer Foundation Trustee Current
North Castle Partners, L.L.C. Chief Executive Officers Former
Bain & Company executive vice president Former
AEA Investors, Inc. Managing Director Former
Age Wave Team Memmber Former
Bain & Company Team Memmber Former
Canaccord Adams Inc. Team Memmber Former
The First Boston Corporation Former
Equinox Fitness Board of Directors Former
Harvard College A.B. Former

Organization Position Status
North Castle Partners, L.L.C. Managing Director Current
North Castle Partners, L.L.C. Board of Directors Current
Warburg Dillon Read Managing Director Former
Dillon Read Managing Director Former
Nomura Securities International, Inc. Managing Director Former
Dillon Read Head of the Financial Sponsor Group Former
Warburg Dillon Read Sponsor Former
Oppenheimer & Co. Inc. Former
Lazard Ltd. Former
New York University M.B.A. Former
Washington University B.A. In Economics Former

Organization Position Status
North Castle Partners, L.L.C. Managing Director Current
Octane Fitness Board of Directors Current
Performance Inc. Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
Enzymatic Therapy Inc. Board of Directors Current
Ernst & Young partner Former
AEA Investors, Inc. Former

Organization Position Status
North Castle Partners, L.L.C. Managing Director Current
North Castle Partners, L.L.C. Board of Directors Current
Atkins Nutritionals, Inc. Board of Directors Current
Red Door Spas Inc Board of Directors Current
McKinsey & Company, Inc. Engagement Manager Former
ABN AMRO Incorporated Financial Analyst Former
Harvard Business School M.B.A. Former
University of Michigan B.B.A. Former

Organization Position Status
North Castle Partners, L.L.C. Managing Director Current
Catterton Partners Partner Current
North Castle Partners, L.L.C. Board of Directors Current
Chemical Banking Corporation Credit Analyst Former
Young America Corporation Former
BT Capital Partners, Inc. Former
Administaff, Inc. Former
Bankers Trust Company Inc. Former
Avalon Natural Products Inc. Former
University of Pennsylvania M.B.A. In Finance Former
Wharton Graduate School of the University of Pennsylvania M.B.A. In Finance Former
Union College B.S. In Economics Former

Organization Position Status
North Castle Partners, L.L.C. Controller Current

Organization Position Status
North Castle Partners, L.L.C. Associate Current
University of Delaware B.S. In Finance and Economics. Former

Alison Minter joined North Castle as an Associate in 2001 with a background in both investment banking and private equity. Ms. Minter's primary focus at North Castle has been on the firm's investments in the aesthetics & personal care and nutrition sectors. She has worked closely with and executed various transactions for Leiner, Avalon and Naked Juice. Prior to joining North Castle, Ms. Minter worked at Evolution Global Partners, an investment firm sponsored by Texas Pacific Group, Kleiner Perkins and Bain & Company. Prior to Evolution, she worked in the Leveraged Finance group of Donaldson, Lufkin & Jenrette, where she executed restructurings and financed leveraged buyout transactions for financial sponsors. Ms. Minter received a B.A. in Economics from Princeton University.

Organization Position Status
North Castle Partners, L.L.C. Principal Current
Avalon Natural Products Inc. Former
Texas Pacific Group, LLC Former
Leiner Health Products, Inc. Former
Princeton University B.A. In Economics Former

Augustine L. Nieto II is one of the most successful and innovative pioneers in the U.S. fitness industry. In 1977, at the age of 19, he co-founded Lifecycle, Inc., when he invented the now-famous computerized bicycle of the same name. He negotiated the sale of Lifecycle to Bally Manufacturing Corporation in 1984. Read more...

Organization Position Status
North Castle Partners, L.L.C. Operating Advisor Current
North Castle Partners, L.L.C. Board of Directors Current
Life Cycle Co-Founder Former

Organization Position Status
North Castle Partners, L.L.C. Current
Sybase, Inc. Former

Organization Position Status
North Castle Partners, L.L.C. Current
Credit Suisse Investment Banking Analyst Former

Organization Position Status
Brock Capital Group LLC Senior Advisor Current
North Castle Partners, L.L.C. Operating Advisor Current
Great Spirit Ventures, LLC Current
The New York Times Company Board of Directors Current
Ford Motor Company Board of Directors Current
Cadbury plc Board of Directors Current
Red Door Spas Inc Director Current
Brock Capital Group LLC Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
Eli Lilly and Company Board of Directors Current
Blue Ridge Partners Management Consulting, LLC Advisory Board Member Current
Tropicana Chief Executive Officer Former
Nabisco President & Chief Executive Officer, Nabisco Biscuit Company Former
Tropicana Group President Former
North Castle Partners, L.L.C. Managing Director Former
Johnson & Johnson Former
Avalon Corporation Chairman Former
Avalon Natural Products Inc. Chairman of the Boards Former
Cadbury Schweppes plc Board of Directors Former
Harvard Business School M.B.A. Former
Wellesley College Undergraduate Degree Former

Organization Position Status
North Castle Partners, L.L.C. Advisor Current
The Nest Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
Barbara's Bakery, Inc. CEO Former
Avalon Natural Products Inc. CEO Former
Avalon Natural Products Inc. President Former
Columbia University MS Former
United States Military Academy BS Former

Grace Fu, prior to joining North Castle in July 2006, worked in the Financial Sponsors and Leveraged Finance group of UBS Investment Bank focusing upon corporate restructuring and debt financings transactions. She graduated with a B.S. in Economics concentrating in Finance and Management from the Wharton School at the University of Pennsylvania.

Organization Position Status
North Castle Partners, L.L.C. Current

Organization Position Status
Verified Person, Inc. President and Co-Founder of Brind-Lindsay & Co. Inc. Current
North Castle Partners, L.L.C. Operating Advisor Current
Etf Venture Funds Current
The Anya Corp Wireless Store Current
Thomas Jefferson University Board of Directors Current
Connelly Foundation Board of Directors Current
Enzymatic Therapy Inc. Board of Directors Current
Jefferson Health System, Inc Board of Directors Current
Verified Person's Assure Board of Directors Current
Verified Person, Inc. Board of Directors Current
InPhonic, Inc. Board of Directors Current
Netsky Cell Board of Directors Current
Christian Cell Phones Board of Directors Current
Wirefly Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
The Wistar Institute Board of Directors Current
University of the Arts Board of Trustees Current
McDonnell Douglas Corporation Former
Thomas Jefferson University Hospital Chairman of the Board Former
The Bravewell Collaborative Board Member Former
Thomas Jefferson University Hospital Board of Trustees Former
University of Pennsylvania Ba and A Jd Former

Organization Position Status
North Castle Partners, L.L.C. Associate Current
DLJ Merchant Banking Partners Former
Vanderbilt University B.S. With Honors Former

Organization Position Status
North Castle Partners, L.L.C. Current
Goldman, Sachs & Co. Investment Banking Analyst Former
Georgetown University B.S.B.A. In Finance and Accounting Former

Organization Position Status
Emergence Capital Partners Venture Partner Current
North Castle Partners, L.L.C. Operating Advisor Current
inQ, Inc. Chairman Current
LPL Financial Services Board of Directors Current
Verifone Director Current
Pccharge Director Current
Lpl Financial Director Current
Taleo Corporation Director Current
North Castle Partners, L.L.C. Board of Directors Current
McCown De Leeuw & Co., Inc. CEO Former
Digital Insight Corporation Chairman, President & CEO Former
Citicorp CEO Former
American Express Company president Former
Citicorp President Former
Intuit, Inc. Senior Vice President, Financial Institutions Division Former
McCown De Leeuw & Co., Inc. partner Former
Citigroup Inc. business leader began Former
McCown De Leeuw & Co., Inc. chairman Former
Minnesota Business Partnership Board of Directors Former
Carlson School of Management Board of Directors Former
Education Lending Group, Inc. Director Former
Salk Institute Board of Directors Former
Walker Digital Corporation Vice Chairman Former
Harvard University MBA Former
Williams College B.A. Former

Organization Position Status
North Castle Partners, L.L.C. Associate Current
University of Michigan Business School B.B.A. Former

John W. Young, Vice President, has over 25 years of private sector experience in human resources management at both tactical and strategic levels in the manufacturing, distribution and hospitality industries in the USA, Canada, the UK and internationally. He has extensive experience in aligning people development systems and organizational design with the goals and cultural values of business units during periods of rapid international growth as well as in start-ups, acquisitions and divestments. Throughout his career, he has worked as a member of senior management teams on the design and implementation of integrated, cost-effective approaches to enhancing individual and team performance. In addition to his role with Capelle Associates, John serves as a director of a US corporation and as a member of the faculty advisory board for the hospitality program of a US University. He is a regular conference presenter. John completed his MA at the University of Edinburgh, his MS in Organization Behavior at California American University and holds his designation as a Certified Human Resources Professional (CHRP).

Organization Position Status
Capelle Associates Inc Vice President Current
North Castle Partners, L.L.C. Operating Advisor Current
Equinox Fitness Board of Directors Current
Spas, Inc. Board of Directors Current
Red Door Spas Inc Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
Four Seasons, LLC Executive Vice President Former
Four Seasons, LLC Vice President of Human Resources Former
Four Seasons Hotels Inc. Former
University of Edinburgh M.A. Former

Organization Position Status
North Castle Partners, L.L.C. Associate Current
The Bear Stearns Companies Inc. Analyst in the Financial Sponsors group Former
Columbia Business School M.B.A. Former
University of Michigan Business School B.B.A Former

Over the past 30 years, Dr. Ken Dychtwald has emerged as North America's foremost visionary and original thinker regarding the lifestyle, marketing, and workforce implications of the age wave. He is a psychologist, gerontologist, entrepreneur and best-selling author of fifteen books on aging-related issues, including Bodymind, Age Wave, Age Power, The Power Years, Workforce Crisis and his latest a children's book Gideon's Dream: A Tale of New Beginnings. Ken Dychtwald's next book is entitled From Success to Significance. His article in The Harvard Business Review, "It's Time to Retire Retirement," was awarded the prestigious McKinsey Award, tying for first place with the legendary Peter Drucker. In March of 2007, he had his debut as a documentary filmmaker and host with the highly rated PBS special "The Boomer Century." In 1986, in partnership with his wife, Maddy Dychtwald,Ken Dychtwald became the founding President and CEO of Age Wave, a firm created to guide Fortune 500 companies and government groups in product/service development for boomers and mature adults. In recent years, he has served as a fellow of the World Economic Forum and is the recipient of the distinguished American Society on Aging Award for outstanding national leadership in the field of aging. American Demographics Magazine honored Ken Dychtwald as the single most influential marketer to baby boomers over the past quarter century.

Organization Position Status
Newbeginnings Psychologist Current
North Castle Partners, L.L.C. Operating Advisor Current
Aei Speakers Bureau Current
North Castle Partners, L.L.C. Board of Directors Current

Organization Position Status
North Castle Partners, L.L.C. Current
Enzymatic Therapy Inc. Former
NationsBanc Montgomery Securities Former

Organization Position Status
North Castle Partners, L.L.C. Current
KPMG International audit manager Former
Fordham University Masters Degree in Business Administration with dual degrees in finance and taxation Former
State University of New York at Binghamton Bachelor of Science in accounting Former

Organization Position Status
Breast Cancer Medical Director of the National Race Current
National Women's Health Resource Center, Inc Medical Director Current
Dr. Peeke Physician, Scientist and Expert Current
North Castle Partners, L.L.C. Operating Advisor Current
University of Maryland Assistant Professor of Medicine Current
Power-Surge.Com, Inc. Clinical Assistant Professor of Medicine at the University of Maryland School Current
University of Maryland School of Medicine Assistant Professor of Medicine Current
Women and Company Columnist Current
National Institutes of Health Adjunct Senior Scientist Current
Elite Athlete Training Systems, Inc. Current
The Good Life Show Current
Fight The Fat Current
Red Mountain Spa Current
Menopause Treatments and Recommendations - Power Surge Current
North Castle Partners, L.L.C. Board of Directors Current
Sentara Healthcare Board of Directors Current
Delicious Living Magazine Board of Directors Current
Reid Hospital & Health Care Services Board of Directors Current
Health Monthly Board of Directors Current
Danbury Hospital Development Fund, Inc. Board of Directors Current
Smart Spot Board of Directors Current
Atkins Inc. Board of Directors Current
Fdc Vitamins Board of Directors Current
Alta Bates Summit Medical Center Board of Directors Current
High Point Regional Health System - Emergency Department Board of Directors Current
American College of Physicians Fellow Current
Washington Wizards Former
NBC Universal, Inc. Former
CNN Headline News Former
University of Michigan M.D. Former
University of California, Berkeley Former

Mr. Roy has served as a director of West Marine since 2001. Mr. Roy is an entrepreneur and business advisor to companies in the healthy lifestyle industry. From 1993 to 1998, Mr. Roy served as President of Whole Foods Market, Inc., a natural food products retailer, and for 5 years prior to that served as its President of the West Coast Region. Mr. Roy also is a director of Avalon Natural Products, Traditional Medicinal, Inc., and Naked Juice. He is a strategic advisor to North Castle Partners, a private equity fund, and also is Chairman of the National Outdoor Leadership School (NOLS), a non-profit wilderness education school.

Organization Position Status
West Marine, Inc. Committee Member Current
North Castle Partners, L.L.C. Operating Advisor Current
United Natural Foods, Inc. Board of Directors Current
West Marine, Inc. Board of Directors Current
Traditional Medicinals Director Current
North Castle Partners, L.L.C. Board of Directors Current
Whole Foods Market, Inc. President Former

Organization Position Status
North Castle Partners, L.L.C. Associate Current

Mr. Madsen has been a director since 2003 and serves on the Compensation and Audit Committees. He was President and CEO of Recreational Equipment, Inc. (REI), a retailer and online merchant for outdoor gear and clothing through March 2005. He served as REI's Executive Vice President, and Chief Operating Officer from 1987 to 2000, and held numerous positions throughout the Company. Mr. Madsen is currently the CEO of Seatab Software of Bellevue, WA. He also serves on the boards of Alaska Airlines, Seatab Software, the Western Washington University Foundation, Western Washington University and the Youth Outdoors Legacy Fund.

Organization Position Status
Votepal Current
Alaska Airlines International and Travel Pie LLC Board of Directors Current
North Castle Partners, L.L.C. Board of Directors Current
Islandwood Board of Directors Current
Alaska Air Group, Inc. Director Current
Western Washington University Board Member Current
Seatab Software, Inc Board of Directors Current
Youth Outdoors Legacy Fund Board of Directors Current
Alaska Air Group, Inc. Member, Audit Committee Current
Recreational Equipment, Inc. CEO Former
Recreational Equipment, Inc. President Former
Recreational Equipment, Inc. Chief Operating Officer Former
Recreational Equipment, Inc. Executive Vice President Former
Youth Outdoors Legacy Fund Founder Former
The Bicycle Alliance of Washington Board Member Former
Recreational Equipment, Inc. Board of Directors Former
Seatab Software, Inc Member Former

Dennis "DJ" Jenson joins North Castle Partners with 25 years of leadership and brand-building experience in lifestyle consumer products across a range of sectors, with an intense focus in both the action sports and outdoor segments. Throughout his career, he has worked to build and grow market-leading global brands including Burton Snowboards, Timberland, Black Diamond Equipment and Timbuk2. Dennis Madsen is the former President and Chief Executive Officer of Recreational Equipment, Inc. (REI), a national retail cooperative of outdoor gear and clothing. Mr. Madsen spent 39 years with REI, where he began working as a stocking clerk at the Company's Seattle store, when the organization had only 33 employees. He rose through the ranks, becoming Chief Operating Officer in 1987 and Chief Executive Officer in 2000.

Organization Position Status
North Castle Partners, L.L.C. Board of Directors Current

Organization Position Status
North Castle Partners, L.L.C. Board of Directors Current

Mike Morris brings more than 25 years of IT and business management experience to North Castle and its portfolio companies. Over the last 12 years, he developed strong expertise in the retail industry and in related disciplines, including distribution and logistics, supply chain management and e-commerce. He most recently served as Vice President of Information Technology and Chief Information Officer for Vitamin Shoppe Industries, a national multi-channel retailer of vitamins and nutritional supplements. Mike has also served in similar capacities for J. Crew, the Leslie Fay Companies and KASPER Suits. Mike has also held senior technology positions at Sandoz Pharmaceuticals (now Novartis), Drexel Burnham Lambert Incorporated, and Arthur Andersen. Mr. Morris currently serves on the Board of Directors of Performance Inc. Mike has developed an expertise in assisting small and mid-sized companies achieve their growth goals and strategic initiatives through partnerships with senior management and the successful leveraging of technology. He also has extensive experience identifying and driving process change into businesses and IT organizations across multiple industries. Mike earned a degree in Political Science from the University of Bridgeport, Connecticut, and his M.B.A. from the Stern School of Business at New York University.

Organization Position Status
North Castle Partners, L.L.C. Board of Directors Current
Performance Inc. Board of Directors Current
Vsi Holdings, Inc. Chief Information Officer Former
Vsi Holdings, Inc. Vice President of Information Technology Former
University of Bridgeport Degree In Political Science Former
Connecticut, Inc. Degree In Political Science Former
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