Kevin Madden
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Hey Kevin — similar path (IB → PE). been thinking a lot about proprietary origination in lower-middle market industrials lately. would be good to connect.
Hey Kevin, looks like we share a similar IB → PE path, though I was at CS & Greenhill in London not Credit Suisse in NY like you. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record tying anything together. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
Hey Kevin, looks like we came up through a similar IB → PE path, though I was in London doing growth equity at Treis not in Philly buying distressed manufacturing businesses like you. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected. every deal virtually sourced from scratch, nothing compounds on itself. curious if that resonates or if you've built something different at Saothair? — Russ
hey Kevin — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Pitchbook or Grata, maybe using ChatGPT to help qualify, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. the people, tools and ideas are all disconnected, so there's tonnes of wasted energy and everything ends up out of sync. been helping a few funds like Mentmore work through that. curious if you've run into the same thing at Saothair? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
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Prospect Research
## PROSPECT INFORMATION: Name: Kevin Madden Title: Co-Founder and Managing Partner Fund: Saothair Capital Partners Background: Kevin Madden is the Co-Founder and Managing Partner at Saothair Capital Partners, a Radnor, PA-based private equity firm. His current focus is investing in lower-middle market manufacturing and industrial businesses facing financial or operational challenges. He actively serves on the Board of Directors for several portfolio companies including GatesAir, Air Products & Controls (APC), T BAILEY INC., Pioneer Window Mfg. Corp., MJM Yachts, and Arandell. His background combines extensive private equity experience with public service and entrepreneurship. He served as a Council Member for Delaware County, Pennsylvania (2018–2025), where he was part of the first Democratic duo to win election to the governing council in over 140 years. Previously, he was an Investing Partner at StartUp Health, Co-Founder and CEO of NightOwl Technologies, and a Vice President at KPS Capital Partners. He began his career in investment banking at Credit Suisse. Key skills include Private Equity, Operational Turnarounds, M&A, Financial Modeling, and Strategic Planning. He holds a B.E. in Civil Engineering and Mathematics from Vanderbilt University and is proficient in Spanish. Recent LinkedIn Activity: - October 14, 2025: "Saothair is excited to announce the acquisition of GatesAir, a leading global designer, manufacturer, and installer of wireless, over-the-air content delivery and public safety communications equipment." - July 29, 2025: "Saothair has completed the acquisition of AAI from Halma Holdings Inc. Following the transaction, AAI will be named Air Products and Controls Inc. (“APC”), restoring the company’s historic name." - July 8, 2025: "Saothair has announced the final closing of Saothair Fund II, L.P., with $300 million in investor capital commitments, more than double the size of its predecessor inaugural fund." - December 23, 2024: "Saothair Capital Partners is excited to announce it has acquired a majority stake in T BAILEY, LLC... a leading vertically integrated provider of above-ground industrial tanks, casings, marine pontoons, penstocks, pressure vessels, and other large custom steel solutions." - November 23, 2024: Regarding Pioneer Windows: "the company has established itself as the leading supplier of window systems for the NYC School Construction Authority." - November 8, 2023: "We are honored to be partnering with an extraordinary collection of highly-respected institutional limited partners, including prestigious college and university endowments, single- and multi-family offices and outsourced CIOs." - December 8, 2020: Regarding the Arandell Corporation acquisition: "We look forward to our new partnership, and proud to play our role in keeping over 500 good jobs in SE Wisconsin." Fund details: - Description: Saothair Capital Partners is a private equity investment firm focused exclusively on lower-middle market industrial and manufacturing businesses facing unique operational and financial challenges. We believe sustainable value is created first and foremost through hands-on operational transformation. The partners of Saothair have worked with businesses across a range of end markets creating fundamental, sustainable improvement to every aspect of the operations of a business. We work in partnership with each of the key stakeholders invested in the long-term success of the business. The workforce, senior management, lenders, customers, suppliers, local officials – each have a vested interest in seeing the business thrive, and each is enrolled in the process of ensuring the business is on strong footing for a successful future. We are capable of investing in and acquiring businesses through a range of challenging situations, including corporate carve-outs, financial restructurings, or family-owned businesses looking for a successful transition. We understand that different circumstances require a flexibility in transactional approach, and we are capable of meeting the needs of a business with the appropriate transactional model. We can also show flexibility with selling stakeholders, allowing them to share in the value created under new ownership. We focus exclusively on lower-middle market manufacturing and industrial businesses with their primary operations in North America, though satellite operations or end-markets may be overseas. We have experience investing in and operating manufacturing businesses across a range of processes and end markets, including paper & packaging, plastics, metals processing, automotive or heavy truck, building products, healthcare-related products, food & beverage, and other niche manufacturing. More information about Saothair is available at www.saothair.com. - Website: https://www.saothair.com - Location: Wayne, Pennsylvania, United States - Lead qualification: Research: - Query: =Saothair Capital Partners Kevin Madden recent investments fund thesis - Answer: Saothair Capital Partners recently closed Fund II at $300 million, focusing on distressed manufacturing companies. Kevin Madden, co-founder, emphasized their mission to support businesses at critical points. The fund targets complex situations like restructurings and turnarounds.