HOUSTON, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Allied Industrial Partners (“Allied” or “the Firm”), an operationally focused lower-middle market private equity firm based in Houston, today announced it has promoted Alex Rich from Managing Director to Partner. The Firm also announced it has added two team members, Lee Roberts, who joined as an Associate, and Michelle Welch, who was named Director of Portfolio Accounting.
With these new additions, Allied now has a team of 11 professionals. The Firm currently has over $500 million of AUM and has made 21 acquisitions since its founding in 2019.
“We are delighted to kick off 2024 by recognizing Alex and strengthening our team. Alex has proven to be a key contributor to our investment group, and we value his continued insight and acumen as he assumes additional management duties,” said Bradford Rossi and Philip Wright, Co-Founders and Managing Partners at Allied. “We also welcome Lee and Michelle as we build the firm’s investment and operational infrastructure in preparation for continued growth.”
Mr. Rich, who has been with Allied since 2020, is responsible for sourcing, evaluating, executing and monitoring the Firm’s investments. He has over 10 years of experience overseeing and managing operations, financial modeling, and due diligence for large private equity transactions. From June to December 2021, he served as interim CFO for Allied portfolio company CES Power during its carve-out from Ring Power Corporation. Prior to joining Allied, Mr. Rich founded and managed several strategic and financial consulting companies that advised industrial businesses throughout North America. He is a former investment banker with Parkman Whaling LLC, an independent investment and merchant bank. Mr. Rich earned a B.S. in Management from Tulane University.
“I look forward to the additional challenges my new role will provide, especially as we see tremendous opportunities to back strong, innovative companies,” said Mr. Rich. “I am excited to continue to build market leading businesses with the Allied team.”
Ms. Roberts comes to Allied with over five years of experience supporting financial modeling, due diligence, capital markets and infrastructure operations and will be responsible for evaluating and monitoring Allied’s investments. Prior to joining the firm, she served as an Investment Banking Associate at Credit Suisse in its Energy & Transition group. She began her career at Plains All American, a public midstream energy infrastructure company. Ms. Roberts holds both an MBA and BA in Economics from the University of Texas at Austin.
Ms. Welch has over 20 years of accounting experience and has been affiliated with Allied since the firm’s investment in CES Power in June 2021. She will be helping the firm implement best in class accounting practices, oversee financial reporting, and lead portfolio companies through audit preparation. Prior to joining Allied, she was a Director at global accounting firm BDO, and earlier, she spent 10 years as a Senior Manager at audit, tax and advisory firm Anton Collins Mitchell LLP.
About Allied Industrial Partners
Founded in 2019, Allied Industrial Partners LLC (“Allied”) is a lower and middle-market private equity firm that thematically invests in high-growth companies within various industrial subsectors, including industrial rentals, manufacturing, distribution, environmental services, and critical infrastructure. Allied seeks to partner with experienced management teams that can benefit from its operational enhancement capabilities and active, hands-on involvement, allowing the firm to execute buy-and-build strategies. For more information, visit alliedindustrialpartners.com.
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