West Palm Beach, FL, March 2010: The Comvest Group (“Comvest”) is pleased to announce that Joe Wright has agreed to join Comvest’s Strategic Advisory Board effective immediately. He will work with the New Business Development group targeting transactions in his areas of expertise, and will be available to all senior Investment Team members as needed.
Mr. Wright was previously CEO and a Board member of Scientific Games. Prior to that, he was Chairman of Intelsat, the world’s largest provider of satellite/fiber services and CEO of PanAmSat which was acquired by Intelsat in 2006. In the late 1990’s he was Chairman of GRC International Inc., a public company providing advanced IT technologies to government/commercial customers, which was sold to AT&T, and Co-Chairman of Baker & Taylor Holdings, Inc., an international book/video/software distribution and e-commerce company. In the early 1990’s he was EVP, Vice Chairman, and Director of W.R. Grace & Company.
In the 1980’s he was a member of President Reagan’s Cabinet as Deputy Director then Director of the Federal Office of Management and Budget in the Executive Office of the President and earlier as Deputy Secretary of Commerce. He was later appointed to the President’s Export Council by President H.W. Bush and was appointed by President W. Bush to the President’s Commission on U.S. Postal Service Reform, the National Security Telecommunications Advisory Committee (NSTAC), the FCC’s Network Reliability and Interoperability Council and Security and Reliability Council, and is currently serving as a member of President Obama’s Defense Business Board. Mr. Wright also serves on the Board of Directors/Advisors of Terremark Worldwide, Federal Signal Corporation, CiNet, Cowen Group Inc, The Chart Group L.P., the Council on Foreign Relations, the Committee for the Responsible Federal Budget and the New York Economic Club.
Comvest Founding and Managing Partner Michael Falk said “Joe has a highly successful business and government background – including several successful Private Equity backed turnarounds. We are delighted to add Joe’s extensive skill set and expertise to the Comvest team.”
The Comvest Group is a leading private investment firm focused on providing debt and equity solutions to middle-market companies with enterprise values of less than $350 million. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies worldwide. Through its extensive financial resources and broad network of industry experts, Comvest is able to offer its companies total financial sponsorship, critical strategic support and business development assistance.