Coalesce seeks to invest behind the operators, founders, and owners of leading mid-sized human capital and technology-enabled business services companies. We back ambitious entrepreneurs looking for a thoughtful capital partner to help accelerate their company’s growth.
How do we help? We provide upfront and ongoing capital, support technology and digital enablement, and provide a suite of tailored resources to drive value creation post-investment.
We are active and committed investors. Our goal is to forge deep partnerships with our portfolio companies and work collectively to build enduring companies of lasting value.
Certification & Compliance
(TIC & C)
& Facility Services
How are we different? We emphasize a distinctive, people-focused, diversity-driven, and growth-oriented approach to investing. We partner with management teams that are at an inflection point and would benefit from a capital partner that can help pull the right levers to accelerate growth.
Key Tenets of Our Investment
We focus on business model attributes first and foremost. In our experience, the best businesses have a strong value proposition, recurring or re-occurring revenues, attractive unit economics, high free cash flow generation, and margins that grow with scale.
We recognize that great businesses aren’t built overnight. We make thoughtful long-term investments, in partnership with management teams, with the goal of building durable franchises.
We take pride in working tirelessly on our companies’ behalf, offering resources and counsel where needed. We want our management teams to be repeat partners and serve as our strongest referrals.
We deploy creative incentive structures that motivate all stakeholders toward a common goal of growth and value creation, not just executive management. We seek to provide equity ownership opportunities deep into an organization.
Our aim is always to drive returns through growth (both organic and acquisition-driven), not through financial engineering. We invest in businesses that are at a tipping point, where our support can help them grow into market leaders.
We have a proven value creation playbook that we tailor and implement in partnership with management. Key tenets of this playbook include improved professionalization and financial reporting (“Systematize”), more proactive sales and go-to-market (“Sell”), greater focus on talent acquisition and retention (“Serve”), and pricing and account management initiatives (“Solve”).
We do have the flexibility to make minority investments or provide other forms of equity capital based on the specific needs of each company.
- Headquartered in North America.
- Typically, at least $5M of EBITDA and $25M of Revenue.
- Asset-light business model, powered by human capital.
- Differentiated service offering, with clear competitive advantages and strong value proposition.
- Entrepreneurial and ambitious management teams committed to driving long-term growth.
- Opportunity to drive value through both organic growth and add-on acquisitions.
- Stable end-markets with limited cyclicality and risk of disruption.
- Strong secular tailwinds benefiting the business, such as an increase in outsourcing or growing regulatory complexity.
Our team brings to bear significant prior expertise investing in business and technology-enabled services. We have seen and done it before across a variety of business models and verticals.
Stephanie is the Founding and Managing Partner of Coalesce Capital. She has over 22 years of investment experience, the vast majority of which were focused on investing and building pioneering services companies that use technology to empower human capital. Prior to forming Coalesce, she spent over 12 years at Warburg Pincus, most recently as Head of the Business Services Group, leading a team of 22 professionals dedicated to investing in human capital and technology-enabled Business Services companies behind a strategy that she developed and refined over the past decade.
Stephanie believes that human capital is the most important driver of company success, especially in the services sector, and has always taken an executive-led approach to her investing by partnering with incredibly talented executive teams. She also believes that digital innovation will continue to play an increasing role in transforming traditional human capital businesses.
During her time at Warburg, Stephanie was involved in Warburg’s investments in ARAMARK, GrubHub/Seamlessweb, Electronic Funds Source, WEX, Endurance International Group, Sotera Health, Hygiena, Labstat International/Certified Sciences, Arise Virtual Solutions, GA Foods, Sweeping Corporation of America, FlexXray, SPINs, A-LIGN, and TRC. She previously served on the boards of Electronic Funds Source, Sotera Health, Hygiena, Certified Sciences, Arise Virtual Solutions, GA Foods, Sweeping Corporation of America, FlexXray, SPINs, A-LIGN, and TRC.
Throughout her 20+ year career in private equity, Stephanie has been involved in more than $30 billion of private equity transactions and has garnered extensive experience in structured investments, including take-privates, corporate carve-outs and growth equity financings. Prior to joining Warburg Pincus in 2010, she worked as an investment professional at Silver Lake Partners, Fox Paine & Company and CCMP (formerly, J.P. Morgan Partners). She began her career working in Morgan Stanley’s Investment Banking Division, where she advised companies on mergers, acquisitions, and restructuring transactions.
Stephanie attended the University of Notre Dame, where she graduated summa cum laude with a degree in finance and economics. She received her M.B.A. from Harvard Business School, graduating as a George F. Baker Scholar, the school's highest academic designation.
Stephanie lives in Rye, New York with her husband and four children.
Henry is a Partner and Managing Director at Coalesce Capital Advisors. With over 15 years of experience, Henry brings an operational and strategic lens and oversees the firm’s value creation initiatives. In his previous role as a Partner at OC&C Strategy Consultants, Henry worked closely with the management teams of business and technology-enabled services companies and their investors, focusing on corporate & portfolio strategy, sales & marketing optimization, operational transformation, commercial due diligence, and buy & build strategies.
During his time at OC&C Strategy Consultants, Henry led commercial due diligence and / or value creation work on investments in Hygiena, TRC, Sotera, A-LIGN, Certified, FlexXray, and Sweeping Corp of America.
Henry is also a former senior advisor to UK Prime Minister Gordon Brown and received a B.A. in Classics from Cambridge University.
Mrs. Foullois is the Chief Operating Officer and Chief Compliance Officer of Coalesce Capital. Bethany has over 20 years of experience in private equity, including over 18 years in private equity operations. Prior to joining Coalesce, she was the Chief Operating Officer and Chief Compliance Officer at LNK Partners, a private equity firm focused on investing in middle market consumer and retail businesses. During her tenure, the firm managed multiple funds, including dedicated co-invest funds, with a revolving AUM of up to $1.2 billion. At LNK, she was responsible for all fund finance and administration, management company finance and operations, accounting, tax, investor relations, compliance, ESG/DEI, technology, and marketing. Prior to LNK, Mrs. Foullois held roles in venture capital and technology for nearly 10 years.
Mrs. Foullois received a double B.A. in Computer Science and Art and the History of Art from Amherst College and a CTA from Columbia University in the Analysis and Design of Information Systems. She is formerly Vice Chair of Fernweh Group, an investment and transformation firm spun-out of McKinsey & Company and focused on industrial technologies. She is a member of the Private Equity CFO Association (PECFOA) and the PEI Private Funds CFO network.
Thomas is a Managing Director at Coalesce Capital. Thomas has over 14 years of investment and acquisition experience, most recently at Flexpoint Ford where he focused on identifying, evaluating, and executing investments primarily in business and technology-enabled services companies within the financial services sector.
During his tenure at Flexpoint Ford, he was involved in investments in notable platform companies such as TRAKAmerica and Clearstead Advisors and served on their boards of directors. Prior to joining Flexpoint, Thomas worked at GIC, Warburg Pincus, and Evercore.
Thomas received a B.S. in Economics, concentrating in Finance and Accounting, magna cum laude, from the Wharton School at the University of Pennsylvania.
Shash is a Principal at Coalesce Capital. He has over seven years of investing and operating experience, including five as a private equity investor at Warburg Pincus. Most recently, Shash served as the Head of Finance at Cometeer, a venture-backed e-commerce and technology business with over $100M in capital raised. Prior to joining Cometeer, Shash was at Warburg Pincus, where he supported the firm’s investments in Endurance International Group, Duravant, Sagent Lending Technologies, and Defi Solutions.
Shash received a B.S. in Economics, concentrating in Finance, summa cum laude, from the Wharton School at the University of Pennsylvania. He also received a B.A. in International Studies from the University of Pennsylvania.
Gurbani is an Associate at Coalesce Capital. Previously, Gurbani worked at Littlejohn & Co. where she evaluated and executed buyout investments in the Business Services and industrial growth sectors. Prior to Littlejohn & Co., she worked as an investment banking analyst at Deloitte Corporate Finance, where she was involved in executing M&A transactions across a variety of industries.
Gurbani received a B.A. in Public Policy from Duke University and a Master of Management Studies degree from The Fuqua School of Business at Duke University.
Daniel is a Managing Director at Coalesce Capital. With over 25 years of business development and investment experience, Dan is responsible for sourcing and assessing investment opportunities, as well as managing relationships with financial sponsors and intermediaries. Dan previously worked as an Executive in Residence at Warburg Pincus, where he sourced platform investments and led M&A and strategy for four Warburg Pincus portfolio companies within the firm’s Business Services Group. During his time at Warburg Pincus, Dan closed platform investments in A-LIGN, TRC, and FlexXray, in addition to completing seven bolt-on acquisitions. He previously served as a board observer of TRC, FlexXray, SPINs, and A-LIGN.
Prior to joining Warburg Pincus in 2021, Dan worked in a variety of business development, corporate strategy, advisory, consulting, and investment roles, including at Bureau Veritas, INTL FCStone, Fredericks Michael & Co., WELLSPACE, CrossBow Ventures, Merrill Lynch, Morgan Stanley and Coopers & Lybrand.
Dan received a B.S. in Molecular, Developmental & Cellular Biology (Genetics) from Haverford College and an M.B.A. from Columbia Business School.
Venus is Head of Office & Support Services at Coalesce Capital. She has over seven years of experience supporting executives and most recently worked as an Executive Assistant to Ms. Geveda at Warburg Pincus. Prior to Warburg Pincus, Venus worked at Morgan Stanley supporting C-Suite executives.
Venus received a B.A. in Criminology and History from York University and a B.Ed., with distinction, in Social Science and History from the University of Toronto.
New York, NY 10022
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