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“Not finance. Not strategy. Not technology. It is teamwork that remains the ultimate competitive advantage, both because it is so powerful and so rare.”

― Patrick Lencioni ―

Ginger Carter

Marketing Coordinator

Ginger is a Marketing Coordinator for Azalea Capital where she supports the firm’s business development efforts. She also manages Azalea’s marketing database, assists with event planning, and provides administrative support to the Azalea team.

Prior to Azalea, Ginger worked for Sanofi-Aventis Pharmaceuticals and Reformed University Fellowship, a college ministry organization. Her passions include reading, running, ministry, and cooking for others when she has the time.

Ginger graduated the University of South Carolina with a Bachelor of Arts degree and is married with two sons.

Marshall Cole

Managing Partner

Marshall joined Azalea Capital in 2008 as its Chief Financial Officer and a Partner in connection with the formation of Azalea Fund III. He concentrates on monitoring and assisting with the operations of Azalea III and participates in the Fund’s investment decisions and due diligence processes. Marshall brings to Azalea Capital a skilled operating background combined with many years of seasoned financial experience.

Marshall began his working career with Union Carbide where he held several financial management positions over a ten-year period. He later became Chief Financial Officer of the National Electrical Carbon Corp. (“NECC”), which was spun out of Union Carbide and acquired by Morgan Crucible Company, plc, headquartered in Great Britain. In 1993, he left NECC and acquired Wright Metal Products, Inc. As Chief Executive Officer of Wright Metals, he led the specialty metal machining and fabrication operation over the following ten-year period. Under Marshall’s leadership, Wright Metals flourished, becoming a regional leader in the production and assembly of metal parts and components, as well as a leader in specialty metal packaging products for the power sports industry (all terrain vehicles, watercraft, and motorcycles). In June 2003, Wright Metals was acquired by Thompson Street Capital Partners, located in St. Louis, Missouri.

Marshall is a Tennessee native and a graduate of Middle Tennessee State University with a Bachelor of Science in Business Administration, with an emphasis on accounting. He received his certification as a Certified Public Accountant in 1980. Marshall resides in Greenville, South Carolina, where he is involved in numerous civic and social organizations. Marshall is married with two sons.

Pat Duncan

Managing Partner

Pat co-founded Azalea Capital in December 1995. Immediately prior to forming Azalea Capital, he briefly served as the Chief Financial Officer and a Director of Kent Manufacturing Company. Prior to Kent, Pat’s business career was centered in banking, primarily with First Union National Bank where he held numerous positions. Most recently, he was Senior Vice President and Group Manager of the Corporate Banking Group for South Carolina, which serviced the large corporate market. During his career spanning banking, M&A advisory services and private equity investing, Pat has developed extensive relationships throughout the U.S. and has deep experience in corporate finance, mergers and acquisitions, equity and debt placements, marketing, and strategic planning.

Pat is involved in all aspects of Azalea’s business and is a board member for numerous portfolio companies. Outside of Azalea, Pat presently serves on the Senior Advisory Board of the College of Business at Clemson University, and the Advisory Council for Kairos Prison Ministries at Perry Correctional Institution. He and his family are active members at Buncombe Street United Methodist Church.

Pat is a South Carolina native and a graduate of Clemson University with both B.A. (1982) and M.A. (1984) degrees in Economics. He also holds diplomas from The National Commercial Lending Graduate School from the University of Oklahoma (1987), as well as The Stonier Graduate School of Banking from the University of Delaware (1990). Pat is married with three children.

Todd Littleton

Operating Partner

After graduating Auburn University in 1985 with a degree in Mechanical Engineering, Todd pursued a career with Bosch Corporation. Starting as manufacturing engineer, he quickly advanced in a leadership role, ultimately becoming one of the youngest Directors in the company, responsible for four business units with >$400M in revenue. He was enrolled in their executive development program, where he gained core capabilities in all functions of the organization. He was also selected to help develop the Bosch Production System, a lean manufacturing system for the entire U.S. organization, based on Toyota’s successful program. Todd was then recruited in 2001 as President of Champion Aerospace Inc., in Liberty, SC. The business achieved a 20% CAGR in EBITDA over a five year period. He accomplished this through empowering his organization in teamwork and customer focus, while closely driving financial performance.

In 2008, he pursued an entrepreneurial project in developing, building, and launching a new concept in Health and Wellness in Simpsonville, SC, called LivN Nsidout. This is a 65,000 square foot state of the art complex for exercise and nutrition, focused on education. The complex is now owned and operated by the YMCA and Greenville Hospital System.

In 2011, Todd became CEO of Jankel Tactical Systems, LLC, in Duncan, SC, a British defense company desiring to expand in the U.S. defense market. Todd guided this organization through 2017, achieving significant Government Defense contracts and growth, along with strong financial performance. He led the start-up company, with a hands on approach, from an empty warehouse to >$70M in revenue within three years. He also guided them to achieve a US Government Secret Security Clearance as a foreign owned company, and launched a new division to build commercially armored vehicles, in a building and equipment capacity expansion.

Since early 2018, Todd has acted as a strategic business advisor, through his consulting firm, to several companies in the Southeast region of the United States. His focus is on value creation, implementing key processes to increase profitability, including lean manufacturing, policy deployment, cost reduction, distribution and inventory analysis. He trains leadership to develop company wide strategies for both growth and organizational development.

Will Lucas

Principal

Will is a Principal at Azalea Capital. His responsibilities include identifying and evaluating investment opportunities, supporting transaction due diligence, and working with management teams to implement growth strategies. Previously, Will was a Senior Associate at Azalea Capital.

Prior to joining Azalea Capital, Will worked with Spinx Oil Company in Greenville, South Carolina as an analyst reporting to the CEO.

Will received his Bachelor of Arts in Business Administration from Furman University. He serves on the CommunityWorks Carolina Micro Loan Advisory Committee, Furman Young Alumni Council, Search Ministries Board, and is a member of the Association for Corporate Growth. Will is married and has a daughter and a son.

Meredith Pflug

Controller & CCO

Meredith is the Chief Compliance Officer and Controller for Azalea. She is responsible for financial reporting, risk management, and the oversight of all regulatory compliance for Azalea and its investment partnerships. Prior to joining Azalea, she was a Senior Associate with KPMG in the Greenville, SC office. While at KPMG, Meredith led audit teams on behalf of clients throughout the U.S., Canada, and Europe. In addition to her audit background, she has extensive experience working with manufacturing firms, both domestically and internationally.

Meredith is a 2012 graduate of Bob Jones University with a B.S. in Accounting. She is married with two daughters.

Vicki Sorbin

Investor Relations Manager

Vicki Sorbin

Investor Relations Manager

Vicki joined Azalea Capital in 2010 as Investor Relations & Office Manager. She is heavily involved in the firm’s accounting, operations, and administration. Vicki also assists in the event planning for the firm, including its annual partner meetings and conferences.

Prior to joining Azalea Capital, Vicki worked with Pella Corporation in Bedford, Ohio for 12 years as an Executive Assistant to the Treasurer. She is a native of Mentor, Ohio and attended Lakeland and Greenville Technical College with an emphasis in Accounting & Business Management. Vicki is married and has two children.

Ben Wallace

Partner

Ben is a Partner of Azalea Capital. He is responsible for identifying, evaluating, and executing new investments, as well as monitoring current portfolio companies. Ben has served on the Board of Directors for Orbital Tool Technologies, Inc and Power Services Group, Inc. He presently serves on the Board of Modus e-Discovery and Ark Naturals.

Before joining Azalea Capital in 2007, Ben worked as a Product Manager and Business Analyst for ScanSource, Inc. (NASDAQ), an international value-added distributor of technology products based in Greenville, South Carolina. From 2000 to 2003, he worked in Washington, D.C. as a Regional Sales Manager in the heating and air conditioning industry. Ben began his career by serving on the staff of United States Senator Strom Thurmond, where he was responsible for nuclear defense and energy issues impacting the Savannah River Site in South Carolina.

Ben grew up in Greenville, South Carolina. He received his Bachelor of Arts from Davidson College in 1997 and a Master of Business Administration from Vanderbilt University in 2005. He is a Liberty Fellow in the Class of 2015, a member of the Aspen Global Leadership Network, and the Association for Corporate Growth. Ben serves as an Elder at Downtown Presbyterian Church and is a founding Board member of Veritas Preparatory School in Greenville. He is married and has three children.

We believe exceptional leadership is the key to building high performing companies that have a sustained impact on their industry and community. Our accomplished group of advisors combine deep knowledge of their respective industries with a proven track record of principled leadership. These men and women are actively involved on our portfolio company boards by providing strategic industry insights, customer knowledge and relationships, and leadership guidance to our CEOs and management teams.

Daryl Brewster

CEO, Krispy Kreme • President, Kraft

Daryl Brewster

CEO, Krispy Kreme
President, Kraft

Consumer Goods

Tammy DeBoer

CMO, Family Dollar • VP/GM, Delhaize

Tammy DeBoer

CMO, Family Dollar
VP/GM, Delhaize

Consumer Goods

Bill Hendrix

CEO, Remington COO • Reliance Electric

Bill Hendrix

CEO, Remington
COO, Reliance Electric

Consumer / Industrial Goods

Michelle Higdon

President, Waggin’ Train • President, Greased Lightning

Michelle Higdon

President, Waggin’ Train
President, Greased Lightning

Consumer Goods

Carl Lee

CEO, Snyder’s-Lance • President, Nabisco/Kraft

Carl Lee

CEO, Snyder’s-Lance
President, Nabisco/Kraft

Consumer Goods

Tim Maharrey

SVP, FXI CEO, HDK Industries

Tim Maharrey

SVP, FXI
CEO, HDK Industries

Industrial Goods

Jim Miller

CEO, Southern Nuclear • SVP, GA Power

Jim Miller

CEO, Southern Nuclear
SVP, GA Power

Industrial Goods

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