Founded in 2002, Solis is a private equity firm that partners with leaders of lower middle-market businesses to create value through enterprise growth and evolution.

 
By understanding and aligning management objectives, investor expectations, and stakeholder needs, Solis consistently helps realize the growth potential of lower middle-market businesses. Solis focuses on companies in the Western U.S. with between $15 million and $100 million in revenue in the services, niche manufacturing, and software sectors.
 

At Solis, we recognize that equity investing is not passive. It requires support, commitment and follow-through. Our financial, operational, strategic and industry specific resources, distinguish us as the partner of choice for business owners and management teams seeking capital, liquidity, and support to take their businesses to the next level.

 
With more than over 40 years of collective private equity experience, deep industry knowledge, and extensive networks, the Solis team is well equipped to partner effectively with management teams to build successful businesses in the lower middle-market.

“Solis” — the Latin root for “sun” or “of the sun” — best describes the philosophy of our firm, which is fundamental, dependable, reliable and consistent. Central to this philosophy is our belief that investment returns should be created through business growth and enhancement, not extraction. Our decades of collective experience have demonstrated that this can best be achieved by partnering with talented entrepreneurs and managers, aligning objectives and incentives, and providing greater access to financial, operational and industry specific resources.
 

SOLIS 360° INVESTING provides a template for how we partner with owners and managers to consistently create value.

 
1. SUPPORT LEADERSHIP GOING FORWARD ~ For Solis, equity investing is not passive, but requires support, commitment and follow-through. Solis principals maintain regular and ongoing contact with portfolio company management teams. We view ourselves as sounding-boards, door openers, cheerleaders, and partners, with the shared goal of growing and enhancing the business.

 

2. UNDERSTAND STAKEHOLDER INTEREST ~ While money is important, it is not the only consideration for most business owners and managers seeking a capital partner. Solis takes a comprehensive and tailored approach, providing capital and solutions to assist business owners in achieving their unique objectives.

 

3. IDENTIFY COMPANY’S NEEDS ~ The Solis principals engage with continuing owners and managers to identify critical needs of the business for growth and enhancement. Examples include capital planning and support, leadership and operational enhancements, introductions to new customers and suppliers, and access to industry resources.

 

4. DEVELOP TRANSACTION STRUCTURE ~ The Solis principals apply their extensive experience in negotiating and structuring investments that align the interest of investors, business owners, management teams and companies. Stakeholders’ unique objectives are met, and managers are provided with the opportunity to generate personal wealth upon continued success. While Solis utilizes debt in its transaction structures, it is conservative in order to maximize operating flexibility.

 

5. AGREE UPON GO-FORWARD VISION ~ The Solis principals work with management to develop a strategic plan with clear operational objectives and timing. The strategic plan is based on management’s vision of what is achievable, and becomes a road-map for partnering.

 

6. DILIGENCE AND CLOSE ~ Solis’ streamlined due-diligence process is comprehensive, yet respectful of management’s time. The objective is to confirm rather than discover. Once complete, Solis proceeds closing.

 

7. FINALIZE STRATEGIC PLAN ~ After closing, the Solis principals and management work collaboratively to refine and finalize the strategic plan. Key benchmark’s and milestones are included to provide objective measures of progress.

 

8. IMPLEMENT PLAN AND VISION ~ Solis supports management in executing the strategic plan. Leveraging its extensive experience, the Solis principals act as a strategic collaborator, and play ab active support role as a member of the Board of Directors, Solis utilizes its networks to recruit and identify executive talent, if needed, and to assist in developing sales and supplier leads to support growth.

Solis invests between $2 million and $20 million to acquire at least a 50% interest in companies that have an established business and a history of success. We are flexible and creative in tailoring each investment to meet the objectives of stakeholders, management and the needs of the company. Emphasis is placed on organic growth, along with accretive strategic acquisitions where appropriate. Solis typically invests equity. We invest with a long-term view, targeting a “next event” within four to six years.

 

Solis invests across a variety of industries, with particular interest and expertise in the services, niche manufacturing, and software sectors. Preferred investments are headquartered in the Western United States in defensible niches with broad customer bases.

 

INVESTMENT CRITERIA

 

While we review each opportunity on its merits, Solis portfolio companies generally have most or all of the following attributes:
 

  1. a strong leader or leadership team with the desire and capability to grow the business;
  2. a proven business model with a growing, fragmented, domestic market size of at least $300 million;
  3. proprietary intellectual property, processes or capabilities that create barriers to entry;
  4. a secure market position not subject to technological obsolescence;
  5. revenues between $15 million and $100 million;
  6. a history of positive cash flow;
  7. the potential to generate high-single to double digit EBITDA margins; and
  8. the ability to grow earnings at least 10% per year, over a four- to six-year period.

OUR TEAM

Daniel Lubeck is the founder and managing director of Solis. With expertise in strategy, operations, transaction structuring, finance, and governance. Mr. Lubeck guides the Solis team in setting the vision and investment strategy, while actively sourcing, structuring and supporting Solis investments.

 

Mr. Lubeck has been a lower middle-market private equity investor for over 20 years. Prior to founding Solis in 2002, Mr. Lubeck co-founded a leveraged buyout firm, Unique Investment Corporation. Prior to private equity, Mr. Lubeck was a transactional corporate and real estate lawyer. He co-founded a Southern California-based business law firm, McIntyre, Lubeck, Borgess & Burns, after working at the national law firms, Paul, Hastings, Janofsky & Walker and Manatt, Phelps & Phillips.

 

Mr. Lubeck earned a law degree from the University of Southern California and a Bachelor of Arts degree in Economics from the University of California, San Diego. He is former chairman of the Southern California chapter of Young Presidents’ Organization (YPO), and currently serves on the board of Team Kids, a non-profit organization focused on youth community service.

Josh Harmsen is a principal at Solis, and is responsible for identifying and executing investment opportunities, and supporting portfolio company investments. Mr. Harmsen joined Solis in 2010, and brings a wealth of strategic, operational and financial experience.

 

Mr. Harmsen previously was an associate with Morgan Stanley in its financial sponsors group in San Francisco, where he focused on the firm’s private equity clients. Prior to graduate school, he served in a variety of operating-related roles at Ford Motor Company, including product development, project management and automotive strategy for Ford of Europe.

 

Mr. Harmsen earned a Master of Business Administration degree from Harvard Business School and a Bachelor of Science degree in mechanical engineering from the University of Michigan.

Roz Price joined Solis Capital as Operation Manager in 2015. Mrs. Price is responsible for internal administration, account management, office operations, marketing, and investor relations.

 

Mrs. Price has over 20 years experience providing high level administrative, operational and/or marketing support to several companies including: Ultimate Staffing Services, True Power Solar, Wiens Family Cellars, Orange Coast Winery and Ste. Michelle Wine Estates.

 

Mrs. Price maintains an active presence within the community, supporting or leading various philanthropic fundraising efforts throughout Orange County. In addition, Mrs. Price is actively involved with Boy Scouts of America, Big Brothers ~ Big Sisters of Orange County, Marina High School, Human Options, Orange County Rescue Mission, Oak View Resource Center, St. Bonaventure Catholic Parish, Community United Methodist Church and Huntington Beach City Council.

CURRENT OPERATING PARTNERS

Paddy joins Lehr with 30+ years’ executive-level experience in various industries driving significant growth and operational improvement. Patrick joined LEHR in 2015 as CEO to lead its operations and execute on its many growth initiatives.

Experienced CEO responsible for international manufacturing and service companies for over 20 years. Business executive with strong sales/marketing/financial/operations/technology/manufacturing orientation leading high growth companies and turnarounds; from start-ups to revenues of over $150M, and growing EBITDA in excess of $10%.

 

Worked for Texas Instruments, BASF and companies owned by VC’s and Private Equity firms. Founder of Gigatek MS, which he built to over 250 employees and generated over $90M in sales in six years. Industries include: IT, aerospace, automotive, electronics, hardware, software, wireless, and data storage. Run international operations with branch offices in France, UK and Germany. Coordinated major projects for US subsidiary with headquarters in Germany. Experience outsourcing to Asia and Mexico. Major customers and client’s customers included Airbus, Boeing, Schlumberger, Gulfstream, Bell Helicopters, Net-Jets, Hitachi- Maxell, BASF, HP, IBM, and FedEx.

 

Educational background includes BS in Automotive Engineering from Warsaw Polytechnic and graduate degree from MIT with PhD thesis sponsored by General Motors.

FORMER OPERATING PARTNERS

Sally Leisegang is currently the Chief Financial Officer of Lindora LLC. Prior to that Ms. Leisegang was responsible for fund management, investor relations and communications, and transactional and due diligence support at Solis Capital.

 

Ms. Leisegang has significant global investment banking experience having worked with the leading mergers & acquisitions team at Rand Merchant Bank in South Africa, where she completed transactions valued at more than $4 billion. Prior to that, Ms. Leisegang worked as an equity analyst at JP Morgan Cazenove, with a focus in the South African media sector. Ms. Leisegang commenced her international investment banking career at Nomura plc. in London, after qualifying and completing her training as a registered Chartered Accountant at KPMG, South Africa.

 

Ms. Leisegang earned a Bachelor of Commerce degree and Bachelor of Accounting degree from The University of Witwatersrand, in Johannesburg, South Africa.

Tom McCracken has more than 35 years technical broadcast media experience. For the past 25 years Mr. McCracken has focused on providing technical expertise to all major broadcast sports networks.

 

Until 2012, Mr. McCracken served as a senior board member and director of corporate development at NEP, having joined NEP as founder and managing partner of NEP West in 1989. During this time, he also served as President and Founder of Broadcast Communication Consultants, later Live Media Group, Inc., until it was acquired NEP in 2002.

 

During his broadcast career, Mr. McCracken has received seven Emmy Awards for Outstanding Technical Team for his work on the Olympic Games and has also provided technical management for a number of notable entertainment events including the Academy Awards, and the Genesis 1992 World Tour.

 

Mr. McCracken currently serves on the board of directors of Live Media Group and International Rubber Products and as a Solis operating partner he brings significant depth of experience, relationships, and technical management expertise.

Vikki Merrill is a seasoned executive, with both CEO and executive management experience in public, private and start-up firms. Ms. Merrill has over 30 years of progressive leadership experience in insurance and managed healthcare organizations, and over 25 years of experience in start-up, turnaround, strategic planning, operations, product positioning, customer service and management training. Earlier in her career, Ms. Merrill successfully led the financial turnaround of two healthcare companies, turning the first to profitability within nine months.

 

Ms. Merrill is currently the owner of DSAMIH Consulting. Throughout her career, Ms. Merrill has consulted with over 250 established public and private firms and over 2,500 senior executives in a broad range of industries, including insurance, healthcare management and hospital systems, real estate investment and development, payroll and benefits, financial services, manufacturing, engineering, senior housing and non-profits. She has successfully provided these companies support in strategic planning, accountability systems, leadership training, executive coaching, and executive life planning. She is a frequent speaker and published resource on leadership, accountability, empowerment and strategic planning

Mike Murphy has over 30 years of technology, management and sales experience. As a seasoned technology leader, he brings invaluable insight, experience and relationships to Solis.

 

As Chief Executive Officer of InQuira, Inc. from 2001 until its sale to Oracle in September 2011, Mr. Murphy successfully led the company in delivering a comprehensive knowledge management solution that delivered a multi-channel customer support solution across industries. Notable customers included industry leaders like Apple, Intuit, Hartford, eBay and Bank of America. Prior to InQuira, Inc., Mr. Murphy was a Senior Vice President at Cambridge Technology Partners, where he ran the Western Region and later oversaw its sales, marketing, alliances and partner programs.

 

The first 13 years of Mr. Murphy’s career were spent in various roles at Hewlett Packard.

 

Mr. Murphy holds a B.A. in Management from Loyola Marymount University. An active member of the business community, Mr. Murphy has served as and currently serves as a non-executive director of a number of private companies including Ironridge, a manufacturer of solar panel mounting systems, StackIQ, a leading platform for managing big IT infrastructure, and Filetrek, a security application based on behavioral analytics.

 

Mr. Murphy also currently serves as a director at Resolve Systems, a Solis portfolio company.

Jerry Rollins has more than 28 years of management and leadership experience and was involved in buying, selling or merging 22 companies during his career in the document imaging and software industry. Within the first two years as CEO/President of ConfirmNet, a Software-as-a-Service (SaaS) provider, Mr. Rollins lead the company to achieve record growth and profitability for the first time in nine years.

 

In prior roles, he spent 14 years as a partner at MWB Business Systems, starting as vice president of sales and ultimately as president/CEO. During this time, he grew revenue from $2.7 million to more than $60.0 million. MWB was eventually sold to Global Imaging Systems, now a wholly owned subsidiary of Xerox.

 

Mr. Rollins then went on to be a partner in Imaging Plus, a Southern California document imaging company. Early in his business career, Mr. Rollins served in various sales and management positions at Sharp Electronics and Copy Line Corporation. During his time at Copy Line, Mr. Rollins was part of the team that grew and eventually sold the business to Alco Standard, which is now known as IKON Corporation.

 

Mr. Rollins has been an active member of the Orange County and San Diego chapters of Young Presidents’ Organization (YPO) and World Presidents’ Organization (WPO). He is currently the CEO of Rollins Consulting Group, a leadership development organization and is chairman and co-founder of SAGE Executive Group, a leadership development group for CEO’s and company presidents. Jerry brings a wealth of sales, operating and leadership experience and a broad network of relationships to Solis.

Experienced CEO responsible for international manufacturing and service companies for over 20 years. Business executive with strong sales/marketing/financial/operations/technology/manufacturing orientation leading high growth companies and turnarounds; from start-ups to revenues of over $150M, and growing EBITDA in excess of $10%.

Worked for Texas Instruments, BASF and companies owned by VC’s and Private Equity firms. Founder of Gigatek MS, which he built to over 250 employees and generated over $90M in sales in six years. Industries include: IT, aerospace, automotive, electronics, hardware, software, wireless, and data storage. Run international operations with branch offices in France, UK and Germany. Coordinated major projects for US subsidiary with headquarters in Germany. Experience outsourcing to Asia and Mexico. Major customers and client’s customers included Airbus, Boeing, Schlumberger, Gulfstream, Bell Helicopters, Net-Jets, Hitachi- Maxell, BASF, HP, IBM, and FedEx.

Educational background includes BS in Automotive Engineering from Warsaw Polytechnic and graduate degree from MIT with PhD thesis sponsored by General Motors.

Founded in 2002

Solis is a private equity firm that partners with leaders of lower middle-market businesses to create value through enterprise growth and enhancement.

100

Million in revenue in the services, manufacturing & software sectors.

40

years of collective private equity experience

10

Successful businesses built in the lower middle-market

Latest News

November 29, 2018

Orange County Business Journal 2018 OC 500 Directory of Influence – Daniel Lubeck, Solis Capital Partners

  Orange County Business Journal 2018 OC 500 Directory of Influence – Daniel Lubeck, Solis Capital Partners  

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Orange County Business Journal 2018 OC 500 Directory of Influence – Will Righeimer, Lindora

  Orange County Business Journal 2018 OC 500 Directory of Influence – Will Righeimer, Lindora  

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