Nova Capital Management, an acquirer of corporate and private equity portfolios, has appointed Ronald Foy as operating partner.
This follows the recent announcement of Nova’s proposed acquisition of five home improvement and hardware brands from Newell Rubbermaid in North America.
Foy (pictured) will be joining the growing team of operating and investment professionals based out of Nova’s office in Chicago, which opened its doors at the beginning of the year. He was previously president and chief executive at Truth Hardware when it was owned by UK listed group Melrose Plc, and altogether he has over 30 years of experience in the building products industry with groups such as Masco and Black & Decker.
David Jacobs, Nova’s investment partner, says: “We believe that Ron’s experience will be of huge benefit in supporting the management teams of Amerock, Ashland, Bulldog, Drapery Hardware and Shur-Line in the growth of those businesses. His wealth of knowledge in the industry has been gained over a long and successful career and we believe it to be important that the newly acquired companies feel comfort that they will have an experienced operating executive joining their boards.”
Foy says: "I’m very pleased and excited to join the Nova team and to quickly engage in this dynamic opportunity. I have known and respected the heritage brands involved in our acquisition for many years and believe the combination of their product quality, channel positioning, and strong core leadership will quickly benefit from the unique Nova operating approach and track record. We are looking forward to cementing long standing relationships while concurrently bringing innovation and growth to all aspects of the enterprise."
