Marc Herdegen
Marc Herdegen joined New State Capital Partners in 2018 with more than 25 years of experience in leadership and management, product development, investment, and strategy consulting. Marc has led global organizations, launched new products, developed growth strategies, and advised executives across a range of industries.
Prior to New State, Marc was a Senior Director at Honeywell International responsible for leading multiple product lines, with full P&L responsibility. As an enterprise General Manager, Marc had primary responsibility for developing and implementing strategies to drive revenue growth and operating income expansion for the flagship integrated avionics product lines in Honeywell’s Aerospace Strategic Business Group.
Previously, Marc was an executive at I-Group LLC, a private investment company where he sourced, screened, and managed investments in a variety of industries. Prior to this, Marc was a consultant at Bain & Company, where he worked on industrial, medical, retail, and financial services projects, primarily for private equity clients. Marc started his career as an aviation officer in the United States Army, where he was an AH-64D Longbow Apache attack helicopter pilot, and aviation maintenance and logistics expert. Marc was awarded the Bronze Star and two Air Medals during his service as a Company Commander in Iraq.
Marc received his undergraduate degree in Economics from the United States Military Academy at West Point and earned an M.B.A. from the Harvard Business School.
Firm bio:
We founded New State Capital to be more nimble, more decisive and more cooperative than bigger, institutional private investment firms.
We also think of ourselves as entrepreneurs, not just asset managers. In this context, we pride ourselves on our long-term outlook. We approach each potential investment as an opportunity to create a long lasting and valuable relationship. This is why our prior counterparties serve as our strongest advocates. Moreover, our firm started as an independent sponsor and as such we seek to support and provide services to independent sponsors.
Our success will be directly linked to the success of our portfolio companies individually. By contrast with other firms who have large, diverse portfolios, and who de-emphasize the importance of any given investment, our entrepreneurial approach maximizes the chances for shared success. This must-succeed attitude creates an alignment of interests with our management partners.
We have made a deliberate choice to employ an experienced team. Because our senior principals also execute our investments, we must be highly selective. This also allows us to be very decisive and flexible. We evaluate each company’s business and financial needs and create the structure that best fits the situation.
Critically, we are focused on growth. For example, we have executed more than twenty add-on acquisitions – on average, more than one for each platform company. We also try to balance our focus on growth with the realistic expectations of inevitable challenges.
Investment criteria
· EBITDA $8-40 million
· Investment size $10-100 million
· Transaction value $25-250 million