Stellex Capital Management, a middle-market private equity firm, has opened an office in Ann Arbor, MI. Shankar Kiru has joined the firm as a managing director along with Andrew Arton as a director. They will both be based in the Ann Arbor office.
Kiru is responsible for working with both current portfolio companies on operational matters as well as new acquisition targets. He joins Stellex from George Industries, an aerospace and defense supplier, where he was CEO. His background also includes time as a managing director at Madison Capital Partners, a Chicago-based investment firm.
Arton is responsible for expanding relationships with constituents in the Michigan area, including lenders, business owners and advisers, as well as providing expertise on the credit structuring of transactions. He was senior vice president of the specialty lending group at First Midwest Bank.
Stellex has experience investing in the automotive industry. Among its holdings are Fenix Parts, Paragon Metals and Custom Glass Solutions.
“As a result of our long-established ties in the automotive industry and in the Detroit area, we are excited about the opening of our new office in Ann Arbor,” said Michael Stewart, managing partner. “As we continue to look at investment opportunities with a focus on industrial manufacturing and service businesses and a particular emphasis on the automotive sector, we believe in expanding our local presence where we see opportunities that can add value for our investors.”
