As Founding Partner of Webster
Capital, Mr. Steiner introduced Andrew McKee,
Charles Larkin and David Malm and recruited them
for the Webster Team.
Don Steiner brings over thirty years of business
experience to Webster Capital including eight
years as founder and Executive Officer of Cornerstone
Brands, ten years in the private equity business
as a General Partner and Co-Founder of Boston
Capital Ventures and ten years at The Gillette
Company in brand management, marketing, and new
business development.
In his role as private equity investor and as
a founder and operating executive, Mr. Steiner
has worked with over 50 companies to help them
build value, solidify and differentiate their
respective brands. Mr. Steiner has deep experience
in sourcing and structuring private equity transactions
both on a direct basis and through a broad network
of referral sources developed over 30 years. Many
of the CEOs, private equity managing partners
and leaders of financial institutional with whom
Mr. Steiner has worked in the past have invested
in Webster Capital as Limited Partners. These
LPs are a valuable resource for the Fund and for
our companies.
Prior to forming Webster Capital, he conceptualized
and founded Cornerstone Brands. He raised $60
million in equity financing, identified and recruited
the senior management team, developed and implemented
the business plan and completed six acquisitions
of growing catalog companies. Cornerstone Brands’
family of catalog/internet companies includes:
Frontgate, Ballard Designs, Garnet Hill, Smith
and Noble, The Territory Ahead and TravelSmith
Outfitters. In 2005 Cornerstone Brands was sold
to IAC Interactive Corporation for $750 million.
Mr. Steiner co-founded Boston Capital Ventures
(“BCV”) in 1983. BCV raised approximately
$130 million over the next ten years and invested
in a wide range of companies including business
services, technology and healthcare. Several of
these companies, including Nextel Wireless, Bright
Horizons Childcare Centers, and Parexel Clinical
Trials Management, followed a core company buy
and build strategy which Mr. Steiner applied at
Cornerstone Brands.
Prior to forming Boston Capital Ventures, Mr.
Steiner spent ten years with the Gillette Company
where he served as a Group Product Manager with
the Personal Care Products Division, helped launch
The Gillette Appliance Division and then formed
the corporate New Business Development group.
Acquisitions were made to develop new markets
in oral hygiene, skin care, stationery products,
vision care, beauty spas, plant care and vitamins.
Subsequent acquisitions included Oral B, Duracell
Batteries and Waterman Pens.
Mr. Steiner is chairman of Sundance Holdings
and is a director of MooreCo International, Jan-Pro,
Vox, Hudson Jeans and also serves on the board
of overseers of the Boys and Girls Club of Greater
Boston and on the Leadership Council of Horizons
for Homeless Children.
Don Steiner was educated at Rutgers University
and Harvard Business School.
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