The recent partner promotions at Waud Capital Partners offer meaningful insights into how the firm approaches leadership development and succession planning. By elevating Tim Cremieux, Kyle Lattner, and Paul Sutphin to Partner roles and promoting Mike Lehman to Principal, the Chicago-based private equity firm demonstrates its commitment to recognizing talent and creating pathways for advancement.

This focus on internal development traces back to the vision Reeve B. Waud established when founding the firm in 1993. By building an organization that identifies and nurtures exceptional professionals, Waud Capital creates continuity in its investment approach while preparing for future growth opportunities.

Strategic Recognition of Specialized Expertise

Each of the newly promoted partners brings distinctive capabilities that strengthen Waud Capital’s position across its target sectors. Cremieux contributes specialized knowledge in pharma services and payor services, while Lattner offers expertise in medical device services and behavioral health. Sutphin complements these healthcare-focused skills with deep experience in software, healthcare IT, and fintech.

“At Waud Capital, we firmly believe that exceptional people drive exceptional value, and it holds true in both our portfolio and firm,” noted Reeve Waud in the announcement. This statement captures the fundamental connection between talent development and investment success that has guided the firm throughout its history.

Building on Established Investment Principles

The promotions reflect Waud Capital’s commitment to maintaining its founding principles while adapting to changing market conditions. By elevating professionals who embody the firm’s investment philosophy, Waud Capital ensures continuity in its approach to identifying promising companies and creating value through operational improvements.

Chris Graber, Partner and Head of the Healthcare Group, emphasized this point in the announcement, noting that the newly promoted partners “have demonstrated extraordinary leadership, delivering value, insights and expertise to their portfolio companies and contributing to the continued success of Waud Capital.”

Creating Value Through Leadership Continuity

Reeve Waud’s focus on building strong leadership teams extends beyond the firm itself to its portfolio companies. This approach has produced notable successes, including Acadia Healthcare, which became a leading behavioral health provider under Waud Capital’s guidance.

By promoting from within, Waud Capital maintains institutional knowledge while positioning itself for continued growth. The newly elevated partners have already demonstrated their capabilities through successful investments, providing a foundation for future achievements across healthcare and technology sectors.

Positioned for Continued Success

As Justin DuPere, Partner and Co-Head of the Software & Technology Group, noted in the announcement, “These promotions underscore our momentum going into 2025 as we look to deploy capital across key sectors. Our newly elevated leaders exemplify our talent-led, thesis-driven investment approach.”

This combination of experience and specialization positions Waud Capital to identify promising opportunities and implement effective value-creation strategies. By strengthening its leadership team across both healthcare and technology groups, the firm enhances its ability to navigate complex investment environments while maintaining its focus on building market-leading companies.

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