Stellex Capital is a private equity firm that invests in middle‐market companies in North America and Europe.

We have a strong history of catalyzing growth and supporting our companies to become leading enterprises through operational transformations.

What differentiates us is that we:

  • Embrace complexity and what others may perceive as flaws
  • Provide flexible capital solutions
  • Focus on long term value creation and implementation of customized operational transformation plans rather than financial engineering
  • Serve as reliable partners to family businesses and independent sponsors and have significant experience working with corporates on divestitures, joint ventures, and take privates
  • Invest in companies facing a transitional crossroad

Sector Focus

aerospace, defense, & government services

Aerospace, Defense, & Government Services

business & industrial services

Business & Industrial Services

consumer & food products

Consumer & Food Products

Distribution & transport

Transportation, Logistics, Distribution

Manufacturing, Basic Industry, Automotive

Manufacturing, Industrial, Automotive

Investment Criteria

Investment Size

Majority of investments typically range between $75 – $150 million; may support larger investments on select transactions

Company Size

Majority of investments are at enterprise values between $100 – $500 million; may invest behind larger enterprise values on select transactions

Geography

North America and Europe

Types of Transactions

Majority/Minority recapitalizations, carve-outs, turnarounds, structured financings, first-time institutional capital

Investments

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Current Investments
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Current Investments
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Current Investments

Team

Ray Whiteman

Ray Whiteman

Position: Managing Partner
Role: Investment Team
Location: New York

Mr. Whiteman is a Founder and Managing Partner of Stellex Capital Management. Mr. Whiteman is also a member of the Stellex Investment Committee. Prior to establishing Stellex, Mr. Whiteman was a Partner at The Carlyle Group and a Managing Director and Co-Head of Carlyle Strategic Partners. Prior to joining Carlyle in May 1996, Mr. Whiteman was a Vice President and Group Head in the Leveraged Finance Department of Credit Lyonnais. Mr. Whiteman has also held several positions at both Citicorp and The Chase Manhattan Bank, N.A.

Mr. Whiteman is currently a director on the board of Cisco Investment Holding LLC, David Brown Santasalo, LFG Data Services, Officine Maccaferi, and P3 Services. Mr. Whiteman was previously Chairman of the boards of MHI Holdings LLC, Morbark Holdings LLC, and Titan Acquisition Holdings L.P. and was also a director of the boards of Brintons Carpet Limited, Diversified Machine, DPG Aerospace Inc., Metaldyne, LLC, RPK Capital Partners, LLC, Service King, and Stellex Aerostructures, Inc. Mr. Whiteman was also a member of the investment committee of RLJ Equity Partners, an affiliate of The Carlyle Group and Robert L. Johnson. Previously, Mr. Whiteman was also a director of the board of numerous Carlyle portfolio companies such as Breed Technologies, Key Plastics, Norfolk Drydock and Shipping Company, The Aerostructures Corporation, and US Marine Repair.

Mr. Whiteman is currently a director of the board of Tuskegee University. Mr. Whiteman has also been a member of the Executive Committee of the National Symphony Orchestra of The John F. Kennedy Center and the Smithsonian’s National Museum of African Art.

Mr. Whiteman received his B.A. in Political Science from Williams College, where he was a Lehman Scholar, and his M.B.A. from the New York University Stern School of Business.

Ray Whiteman

Managing Partner

Mr. Whiteman is a Founder and Managing Partner of Stellex...