Spinnaker’s principals, Michael Luther and Charles Matteson, have worked closely for 15 years and have extensive operating experience as senior managers of middle market companies and together have over 50 years of extensive operational experience in all aspects of developing, financing and managing multi-unit retail chains. Moreover, Spinnaker has formed an Investment Committee including former senior managers from Deutsche Bank’s Special Situations Group to assist in evaluating, structuring and negotiating the financial aspects of the transactions. The principals believe that the combination of their operating and investing expertise represents a significant advantage to the Fund in sourcing unique or exclusive transactions, in adding value to portfolio companies and in generating superior returns.
The General Partners include:
Charles C. Matteson, Jr. is an entrepreneur with over 20 years experience in managing retail and franchised operations. He founded and became one of the largest franchisees for Nutri/System weight loss clinics. He owned and operated 21 centers with over $12 million in sales and 200 employees. He was elected to the franchisee’s Board and was President of the Advertising Cooperative. He was honored by the franchisees for operational excellence and was four times recognized in Ernst & Young’s/Inc. Magazine’s “Entrepreneur of the Year” program. He founded Incontrol Systems LLC and led the development of a protocol, business plan, marketing program and franchising plan for retail-based healthcare company. He secured $1 million initial venture capital. Previously, Mr. Matteson held various positions in the sales and management in the computer and Real Estate industries He is a graduate of Pennsylvania State University with a B.S. in Marketing.
Michael S. Luther has been involved in corporate finance and merchant banking for 20 years. He managed a hedge fund for Deutsche Bank, which focused on structured investments into “value based” businesses. He led transactions with investments of over $5 billion including the purchase of Alamo National Car Rental, by Cerberus Capital of New York. He was Chief Operating Officer of Jack Zwick Associates (“JZA”), which specializes in multinational finance advising multilateral institutions including the World Bank, and IMF. His other areas of proficiency included, project finance, credit and risk management corporate finance, and complex value based transactions. Such transactions include bankruptcy, spin-offs, MBO’s and other event transactions. He served on the staff of the Southeastern Energy Academy hosted annually at the University of Georgia. His advisory and investment assignments range from middle market companies to Fortune 500 businesses. Mr. Luther is a CPA.