Catalyst Capital Announces New Chief Financial Officer To Expand Its Management Services
NEWPORT BEACH, Calif., Nov 21, 2000 /PRNewswire via COMTEX/ -- Catalyst Capital, a leading venture management firm, announced today the appointment of David Hyman as its CFO. In addition, Mr. Hyman will also assume the CFO position in selected Catalyst client companies. A native of South Africa, David Hyman will bring 20 years of expertise as CFO and auditor to Catalyst Capital.
Hyman comes to the Newport Beach venture capital firm after 14 years as CFO of the TFM Group of South Africa. TFM, which employs 1,500 workers, manufactures armored vehicles for the military as well as a range of special-purpose vehicles for the private sector and government organizations.
Hyman was instrumental in introducing the concept of leasing specialized vehicles to the South African government, enabling the customer to use vehicles (including commuter buses) that it was unable to purchase due to budget constraints, while at the same time securing manufacturing contracts for the TFM group. At TFM, Hyman created a dedicated finance company to source the funds for the leasing.
"David brings a depth of CFO experience as well as a strong accounting/audit background from his work as a Senior Auditor with Deloitte & Touche," said Robert J. Zwerling, Senior Managing Partner of Catalyst. "David's financial acumen will be instrumental in allowing us to continue assisting companies the right way -- through patience and planning."
Among Catalyst client companies is USAutoNews.com, the first and largest Internet automotive portal providing communications and e-commerce business to automotive dealers and trade in the $1 trillion automotive industry.
USAutoNews.com recently announced a partnership with PurchasePro.com that will create a universal dealer e-marketplace for the sale and distribution of products and services for the automotive industry using browser-based, business-to-business e-commerce solutions.
Other new Catalyst client companies include CSA/PrepStar, a college sports recruiting and Internet Company and Preference Technologies, a provider of Internet software for business communication and retention to their customers.
Hyman is a 1980 graduate of Wits University in South Africa with Bachelors degrees in Commerce and Accountancy. He is a Chartered Accountant of South Africa, that country's equivalent of a Certified Public Accountant.
In addition to his tenure at the TFM Group of Companies, Hyman also worked five years for Deloitte & Touche in Johannesburg as a senior auditor.
About Catalyst
Catalyst Capital is a venture management firm that provides a unique blend of management and merchant banking services to emerging growth Internet, software and technology companies. Rather than just advise a company, Catalyst actually becomes the company's management team. Using its proprietary management methodologies, Catalyst works with carefully qualified emerging-growth companies that have the potential to achieve an enterprise valuation of at least $100 million within an average of 24 months.
The Company's management team possesses extensive expertise in business planning, corporate organization, strategic marketing, strategic alliance negotiation and planning, budgeting and process controls, information and digital technology and capital funding. Using these skills and experience, together with its time-tested management processes, Catalyst develops and implements an operating plan that allows its portfolio companies to achieve a target enterprise value through an initial public offering or through an acquisition or merger. Catalyst Capital's principal place of business is 4100 MacArthur Blvd., Suite 305, Newport Beach, CA 92660. Its telephone number is (949) 955-5400 and fax is (949) 955-5406. The company's web address is www.catalystcapital.com.
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Source: Catalyst Capital Partners, LLC
Contact:
Barry Webster of Catalyst Capital Partners, LLC, 949-955-5401
URL: catalystcapital.com
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