MCLEAN, Va., Dec. 6 /PRNewswire/ -- Claris Capital announced that its Chairman, Dr. Paul G. Stern, has been confirmed as a new board member at ManTech International Corporation . ManTech is a leading provider of innovative technologies and solutions focused on mission-critical national security programs for the Department of Defense, the Intelligence Community, the Department of State, the Department of Justice, the Department of Homeland Security and other U.S. federal government customers.
"I'm pleased to join a leading, innovative solutions provider that plays such an important role in our national security and to assist in continuing the strong, profitable growth that ManTech has experienced under the leadership of Chairman and CEO George Pedersen," said Mr. Stern.
Mr. Stern's background ranges from significant capital market experience to serving as a Fortune 500 CEO. He continues to serve as a partner and co- founder of Arlington Capital Partners, a $452 million private equity firm based in Washington, D.C. Prior to Arlington, Stern co-founded Thayer Capital Partners and co-led its $364 million middle market private equity fund, Thayer Equity Investors III, L.P. Thayer completed a total of 19 investments through ten portfolio companies, including Software AG.
"Paul Stern is one of the most respected executives in the Greater Washington region as a result of his impressive blend of executive level operating and financial experience," said Brian Keane, Managing Director and Partner at Claris.
In 1993, Stern joined Forstmann Little & Co. as a special limited partner. During his two-year tenure at Forstmann Little, the partnership completed both the $1.4 billion acquisition of Ziff-Davis Publishing and the $700 million Thompson-Minwax transaction. Additionally, Stern served on the Forstmann Little Advisory Board as well as the boards of General Instruments and Gulfstream Aerospace.
From 1988 to 1992, Stern served as the Chairman and Chief Executive Officer of Northern Telecom Limited, now Nortel Networks. Under his leadership, sales rose by over 55 percent and net earnings increased three- fold from $183 million in 1988 to $548 million in 1992. Market capitalization of the company during that time increased from $4.1 billion to over $10.7 billion. While with Northern Telecom, Stern led the formation of several joint ventures, including ventures with Motorola and Matra, and joint ventures in China. In 1991, Stern led Northern Telecom's $2.6 billion acquisition of STC plc and its subsequent acquisition of Novatel Ltd.
Stern joined Burroughs Corporation (later Unisys) as an executive vice president and rose to become President and Chief Operating Officer. During his tenure, from 1981 to 1987, the company made several strategic acquisitions including: Memorex, System Development Corporation and Sperry Univac, which led to the formation of Unisys. Concurrently, the company tripled its sales to $9.7 billion, employed 100,000 people and increased the market value of its equity from $1.4 billion to $5 billion.
Stern currently serves on the boards of Whirlpool Corporation and Dow Chemical Company. Additionally, he is treasurer of the John F. Kennedy Center for the Performing Arts, the Wharton School of Business of the University of Pennsylvania, SEI Center for Advanced Studies in Management, Madison Council of the Library of Congress, the Lauder Institute, Business Executives for National Security, and through his career has served on over ten corporate boards.
He holds B.S. and M.S. degrees in electronics engineering (thermonuclear plasma physics), as well as a Ph.D. in solid state physics. He is fluent in German and Spanish.
About Claris
Claris Capital LLC, and its affiliate Claris Advisors LLC member NASD/SIPC, is a private investment bank based in the Washington, D.C. area which provides expert mergers and acquisitions, financial restructuring and capital formation advisory services to small and mid-sized companies. Claris' professionals come from Wall Street investment banks, marquee private equity firms, public technology operating companies and global professional services firms.
Claris is committed to helping our clients identify, develop and execute on strategic growth opportunities by providing a range of advisory and capital raising services. In total, Claris Advisors professionals have executed over 300 transactions, exceeding $55 billion in enterprise value. Additional information on Claris can be found at http://www.clariscapital.com/.
About ManTech International Corporation
ManTech's expertise includes technology and software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and is helping the Department of Justice's U.S. Marshall Service deploy a common, office automation system. With projected annual revenues in excess of $800 million for the current year and more than 5,500 highly qualified employees and several thousand consultants, the company operates in the United States and more than 30 countries worldwide. ManTech was selected by Business Week magazine as one of the Top 100 Hot Growth Companies for 2004. Also this year, VARBusiness magazine ranked ManTech as one of its Top 50 Fastest-Growing Solution Providers. Additional information on ManTech can be found at http://www.mantech.com/.
Claris Capital LLC
"I'm pleased to join a leading, innovative solutions provider that plays such an important role in our national security and to assist in continuing the strong, profitable growth that ManTech has experienced under the leadership of Chairman and CEO George Pedersen," said Mr. Stern.
Mr. Stern's background ranges from significant capital market experience to serving as a Fortune 500 CEO. He continues to serve as a partner and co- founder of Arlington Capital Partners, a $452 million private equity firm based in Washington, D.C. Prior to Arlington, Stern co-founded Thayer Capital Partners and co-led its $364 million middle market private equity fund, Thayer Equity Investors III, L.P. Thayer completed a total of 19 investments through ten portfolio companies, including Software AG.
"Paul Stern is one of the most respected executives in the Greater Washington region as a result of his impressive blend of executive level operating and financial experience," said Brian Keane, Managing Director and Partner at Claris.
In 1993, Stern joined Forstmann Little & Co. as a special limited partner. During his two-year tenure at Forstmann Little, the partnership completed both the $1.4 billion acquisition of Ziff-Davis Publishing and the $700 million Thompson-Minwax transaction. Additionally, Stern served on the Forstmann Little Advisory Board as well as the boards of General Instruments and Gulfstream Aerospace.
From 1988 to 1992, Stern served as the Chairman and Chief Executive Officer of Northern Telecom Limited, now Nortel Networks. Under his leadership, sales rose by over 55 percent and net earnings increased three- fold from $183 million in 1988 to $548 million in 1992. Market capitalization of the company during that time increased from $4.1 billion to over $10.7 billion. While with Northern Telecom, Stern led the formation of several joint ventures, including ventures with Motorola and Matra, and joint ventures in China. In 1991, Stern led Northern Telecom's $2.6 billion acquisition of STC plc and its subsequent acquisition of Novatel Ltd.
Stern joined Burroughs Corporation (later Unisys) as an executive vice president and rose to become President and Chief Operating Officer. During his tenure, from 1981 to 1987, the company made several strategic acquisitions including: Memorex, System Development Corporation and Sperry Univac, which led to the formation of Unisys. Concurrently, the company tripled its sales to $9.7 billion, employed 100,000 people and increased the market value of its equity from $1.4 billion to $5 billion.
Stern currently serves on the boards of Whirlpool Corporation and Dow Chemical Company. Additionally, he is treasurer of the John F. Kennedy Center for the Performing Arts, the Wharton School of Business of the University of Pennsylvania, SEI Center for Advanced Studies in Management, Madison Council of the Library of Congress, the Lauder Institute, Business Executives for National Security, and through his career has served on over ten corporate boards.
He holds B.S. and M.S. degrees in electronics engineering (thermonuclear plasma physics), as well as a Ph.D. in solid state physics. He is fluent in German and Spanish.
About Claris
Claris Capital LLC, and its affiliate Claris Advisors LLC member NASD/SIPC, is a private investment bank based in the Washington, D.C. area which provides expert mergers and acquisitions, financial restructuring and capital formation advisory services to small and mid-sized companies. Claris' professionals come from Wall Street investment banks, marquee private equity firms, public technology operating companies and global professional services firms.
Claris is committed to helping our clients identify, develop and execute on strategic growth opportunities by providing a range of advisory and capital raising services. In total, Claris Advisors professionals have executed over 300 transactions, exceeding $55 billion in enterprise value. Additional information on Claris can be found at http://www.clariscapital.com/.
About ManTech International Corporation
ManTech's expertise includes technology and software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and is helping the Department of Justice's U.S. Marshall Service deploy a common, office automation system. With projected annual revenues in excess of $800 million for the current year and more than 5,500 highly qualified employees and several thousand consultants, the company operates in the United States and more than 30 countries worldwide. ManTech was selected by Business Week magazine as one of the Top 100 Hot Growth Companies for 2004. Also this year, VARBusiness magazine ranked ManTech as one of its Top 50 Fastest-Growing Solution Providers. Additional information on ManTech can be found at http://www.mantech.com/.
Claris Capital LLC
© 2004 PR Newswire
