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 Private equity firm CCMP Capital, formerly J.P. Morgan Partners, has reeled in veteran dealmaker and turnaround specialist Greg Brenneman as its new chairman. Brenneman will come aboard on September 30 from sandwich maker and
current CCMP portfolio company Quiznos, where he is currently the CEO.
No stranger to private equity, Brenneman is also the chief executive of TurnWorks, a buyout shop he founded in 1994. But most of his experience with the industry is as a CEO brought in by a new private equity owners to fix a struggling portfolio company. He joined Burger King Holdings Inc. as president to turn around the struggling fast-food chain when it was bought by Bain Capital LLC, Goldman Sachs Capital Partners and TPG Capital. He engineered the $3.5 billion sale of PwC Consulting only two months after becoming president and CEO in 2002. Brenneman is also the former CEO of Continental Airlines and Aloha Holdings Inc. CCMP will be counting on Brenneman's
operational experience to help guide portfolio companies through the
rough economic climate. With the loss of leveraged debt markets, many
of financial engineering tools that buyout shops used to wring profits
out of their companies has also disappeared. CCMP closed its latest fund CCMP Capital Investors II, L.P. in September 2007 with $3.4 billion. - George White Categories Deal Video
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