Partner Profiles

W. Michael Clevy has held CEO positions with three companies (one public and two privately held) in three industries since 1994. He was President and CEO of International Comfort Products (ICP: AMEX), now a part of United Technologies Corporation (UTX: NYSE) from 1994 to 2000. Clevy was CEO for two portfolio businesses of a large private equity firm from 2000 to 2009. Previously, Clevy ran three divisions as VP and General Manager and has senior-level experience as VP of engineering, manufacturing, marketing and sales for United Technologies/Carrier Corporation. He has led the acquisition of 15 businesses in North America, Latin America and Europe. Clevy has been a non-executive board member of York International (NYSE), Pameco (NYSE) and Derlan Industries/Northstar Aerospace (TSE).

James L. Beckner has served as a chief strategic officer and corporate attorney with extensive experience in mergers and acquisitions as well as venture capital transactions. He has served as counsel to many corporations, financial institutions, investment partnerships and international corporations. He has negotiated more than one hundred transactions, including financial transactions, deal structure, capital structure and definitive purchase agreements. Mr.Beckner’s strengths include financial restructuring, transaction negotiation, mergers and acquisitions, and financial institution and other related transactions.

Tim T. Morris, CFA, was a founding partner of Morris Capital Management and has extensive experience in investing in industrial businesses. Tim became the President of MCM in 2006 and has been involved in all aspects of managing the MCM funds; Special Situations Fund, L.P., formed in 2002; and Special Situations Fund II, L.P., formed in 2006. Tim currently serves on the boards of Pro-Tech Industries, Fulton Bellows and Cady Bag Company and has served on the boards of Lee Brass, Monarch Windows and Doors, and Private Label Cosmetics. Tim began his career as an associate in investment banking for ING Financial Markets and CDC IXIS Capital Markets in New York City, specializing in transactions involving securitization of corporate assets and working on transactions raising between $50 million and $6 billion.

Operational Approach

  • Once a target company is identified, the Partners employ a disciplined, rigorous analysis to identify key business drivers, areas for improvement and opportunities for growth.
  • The Partners will personally meet with employees, customers, suppliers, lenders and competitors to develop an accurate and up-to-date 360-degree view of the business.
  • The Partners, working with management, develop detailed three-year operating plans with clear objectives, key result areas, and milestones for each investment. These plans are developed involving three layers of management and are deployed throughout the organization. The operating plans become the measure of success and the basis for compensation and promotion within the business.
  • The Partners employ metrics that allow the Partners, Management and Investors to track execution of the plans and results on a real-time basis. Typically, the metrics will address working capital, customer service and progress toward profit objectives and strategic goals.
  • The Partners and Management will drive improvement in productivity, customer lead times and working capital utilizing continuous improvement processes, including Lean Production, and an intense focus on execution.