The Cherry Tree Companies has appointed Paul L Novak as a managing director in the company's investment banking unit, Cherry Tree & Associates.
Novak will be based at the company's Carlson Center headquarters, and will strengthen Cherry Tree's growing sell-side advisory practice in manufacturing, distribution, food, and agribusiness, as well as expand its existing coverage of private equity.
"I couldn't be happier to be back in the Twin Cities and surrounded by such an impressive group of colleagues as those at Cherry Tree," Novak says. "Our growth prospects are tremendous and I am happy to be a key contributor to implementing Cherry Tree's bright future."
Gordon Stofer, president and managing partner of Cherry Tree & Associates, says: "We are really pleased that Paul has joined us. He brings a tremendous skill set in that he has been both a seller and buyer of middle-market companies. In his career he consummated over USD10 billion of transactions and has had board of director's responsibilities for 10 companies. Additionally, Paul has deep family roots and relationships in Minnesota, so we expect to work with him for many years to come."
Until last August, Novak was the senior vice president in charge of private equity investing for IronRock Capital Partners, a private equity fund based in St Louis, Missouri. Prior to joining IronRock, he was a vice president and partner with Capital For Business, a St Louis, Missouri based private equity fund, and a vice president with Goldsmith Agio Helms/Lazard Middle Market, a sell-side mergers and acquisitions advisory firm based in Minneapolis, Minnesota.
