Borgman Capital Grows Team and Establishes Twin Cities Presence with Addition of Ben Axelrod
M&A advisor Ben Axelrod has joined Borgman Capital as a managing director to initiate the firm’s presence in the Twin Cities.
MILWAUKEE – (MAY 16, 2023) – Borgman Capital, a lower middle market private equity firm headquartered in Milwaukee, announced today that Ben Axelrod, a veteran mergers and acquisitions advisor, has joined the firm as a managing director to initiate the firm’s presence in the Minneapolis-St. Paul area.
“Borgman Capital is committed to the lower middle market, and we believe the Upper Midwest, specifically Minnesota, the Dakotas and Iowa, continue to be underserved. That makes the Twin Cities an optimal place to put down roots,” said Sequoya Borgman, founder and CEO of Borgman Capital. “We are excited to welcome Ben to the team and establish a presence in Minnesota. We have worked with Ben previously on several transactions, including one of our earlier investments. His track record of serving business-owner entrepreneurs and families, and his dedication to the lower middle market, make him perfect for this role.”
Axelrod has more than 20 years of financial advisory experience. Prior to joining Borgman Capital, he was a managing director and group head of the investment banking practice at CLA. Axelrod launched CLA’s M&A advisory capabilities in 2014 to support and guide owners of privately-held businesses during the ownership transition.
Previously, Axelrod worked in the Minneapolis offices of Lazard and RBC Capital Markets. He began his career in mergers and acquisitions in Frankfurt, Germany, working at BHF Bank, a subsidiary of ING Barings. Axelrod received a Bachelor of Arts degree in economics with a minor in international relations from Stanford University. He has served in senior roles on boards of several community non-profit organizations focused on advancing education as well as youth athletics.
“Helping business owners and their families realize the fruits of their hard work has been a driving force for me for more than two decades. Along the way, I have had the great fortune of working with some remarkable business operators,” said Axelrod. “I am proud to be able to continue to do so, now on the buy-side at Borgman Capital, and look forward to building upon the firm’s success here in the Twin Cities.”
Founded in 2017 in Milwaukee, Borgman Capital has completed 16 acquisitions to-date and introduced a real estate practice in 2021. The firm’s portfolio currently includes seven businesses across a wide range of industries including telecommunications, manufacturing and food. Borgman Capital invests in profitable and stable companies with annual revenue between $10 to $100 million and EBITDA between $2 to $15 million.
“Expanding Borgman Capital’s footprint to include the Twin Cities is a significant step in enabling the team to serve additional lower middle market business owners and entrepreneurs across the Midwest,” Borgman added. “We take very seriously the responsibility we have to grow a business a founder has poured their livelihood into and ensure it succeeds under our care in its next chapter.”
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About Borgman Capital
Founded in 2017, Borgman Capital is a private equity firm focused on investing in successful lower middle market businesses that are poised for growth. The firm acquires companies with annual revenue between $10 and $100 million and EBITDA between $2 and $15 million. We are opportunistic in nature, ready to explore deals in a fair, flexible and creative manner. Borgman Capital is headquartered in Milwaukee with additional operations in the Twin Cities. Learn more at borgmancapital.com.