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Our TeamFNEC's professionals use their collective expertise and experience across many disciplines to provide valuable and productive advice to the companies with which we partner. Richard C. Klaffky, Managing Principal Rick Klaffky co-founded First New England Capital L.P. in 1987 and has over 25 years experience investing in middle market operating companies. Prior to the formation of FNEC, he spent 14 years with Aetna Business Credit, Inc., which, through acquisition, became Barclays Business Credit, Inc. Rick's positions at Barclays included Vice President and Manager for the Intermediate Term Lending Division and Senior Vice President with the Asset Based Lending Division, responsible for New Business Development in the Northeast region. Prior to joining Aetna Business Credit, he spent three years with the Travelers Corporation as a Securities Analyst in the Private Placement Department. Rick is a graduate of Brown University and the Columbia University Graduate School of Business. He has served on the Board of Governors of the National Association of Small Business Investment Companies (NASBIC) and is the past President of the Northeast Regional Association of Small Business Investment Companies (NERASBIC). John L. Ritter, Principal John Ritter co-founded First New England L.P. in 1987 and has over 20 years of experience in providing mezzanine and equity capital to small and medium size businesses. Prior to co-founding First New England Capital L.P., John was a practicing attorney focusing on commercial litigation, first at Blume and Elbaum and thereafter as General Counsel at Independent Energy Corporation. John holds a Bachelors of Arts degree from Macalester College, a Master of Arts in Religion from Yale University and a Doctor of Jurisprudence from the University of Connecticut School of Law. He serves on the Board of Directors of various companies, including two not-for-profit organizations. In addition, he has served as a member of the West Hartford Town Council and as a Legislator in the Connecticut State House of Representatives. John has also previously served on the Executive Committee of the Northeast Regional Association of Small Business Investment Companies (NERASBIC). Seth W. Alvord, Principal Seth Alvord joined FNEC in early 2007 as a Principal. Seth has over 17 years of investment banking and private equity experience providing equity and debt financings, merger and advisory services and strategic consulting services to middle market companies. Prior to joining FNEC, Seth served as a Vice President and Senior Vice President in the Investment Banking Division of CRT Capital Group LLC where he focused on middle market companies and private equity sponsors. Prior to CRT, Seth held the positions of Associate and Vice President in the Financial Sponsors Group within the Investment Banking Division of Morgan Stanley from 1997 until 2003 and served as an Analyst and Associate in the Corporate Finance Department of Advest, Inc. from 1993 until 1996. Seth holds a Bachelor of Arts from Connecticut College and a Masters in Business Administration from Cornell University. He currently serves as a Trustee of the Northfield Mount Hermon School, where he serves on the Investment and Audit Committees. Robert J. Gibson, Senior Vice President Rob Gibson joined FNEC in early 2009 as a Senior Vice President. He has over nine years of investment banking and private equity experience providing capital raising, mergers and acquisitions and financial advisory services to middle market businesses. Prior to joining FNEC, Rob was an Analyst, Associate and, most recently, a Vice President in the Investment Banking division of CRT Capital Group LLC, a middle-market investment bank, where he structured and executed debt and equity financings for and advised small and medium size companies in a wide range of industries. Before joining CRT, Rob began his career as an Analyst in the Healthcare Investment Banking Group at Bear, Stearns & Co. Inc. Rob is a graduate of Amherst College, magna cum laude, where he received his degree in Political Science. He currently serves on the Executive Committee for the Northeast Regional Association of Small Business Investment Companies (NERASBIC). Paul F. Romanelli, Vice President Paul Romanelli has been involved with FNEC since 1988 through his involvement on the Board of FINEC Corp., initially serving as a Director and currently holding the positions of Chairman of the Board and Treasurer. In addition, Paul stepped into an operational role with FNEC as a Vice President in 2009. He currently is also a Principal in The Wadsworth Group and Madison Energy Group, private companies focused on consulting, developing, financing, and operating independent energy production facilities whether driven by renewable or conventional energy sources. Paul was a Co-Founder, President and Chief Executive Officer of Independent Energy Corporation (IEC), which developed, financed and operated energy projects in the United States, Central America, and the Caribbean with a total capital cost of over $500 million. IEC was sold to an integrated energy company listed on the NYSE. Paul is a member of the Board of Business Lenders, LLC, a Hartford, Connecticut-based Small Business Administration lender owned by Merrill Lynch and the company’s management. Prior to co-founding IEC, he was involved with business and financial consulting with both Arthur Andersen & Company and his own firm for eight and ten years, respectively. Paul holds a Bachelors of Science and a Masters of Science from the University of Rhode Island and a Masters of Arts from Trinity College in Hartford, Connecticut. Hugh Kinsman, CPA, Advisory Director Hugh Kinsman joined FNEC in 2010 as an Advisory Director. Hugh has over 17 years of private equity, corporate finance, commercial lending and public accounting experience focused primarily on lower middle market companies. Prior to joining FNEC, Hugh worked for Full Circle Capital, a senior and mezzanine debt fund focused on the information technology, media and telecommunications industries, from 2007 until 2010. Prior to Full Circle Capital, he served as a General Partner at WallerSutton, a private equity fund targeting the media and telecommunications sectors, from 2000 until 2007, a Senior Associate in Structured Finance Group at GE Capital from 1998 to 2000, a Senior Credit Analyst with Fleet Bank and Summit Bank and as an auditor for a regional CPA firm. Hugh holds a Bachelors of Arts from Penn State University and a Masters in Business Administration from Cornell University. He is also a Certified Public Accountant. Adam H. Sauerteig, Analyst Adam Sauerteig joined FNEC in 2010 as an Analyst. Prior to joining FNEC, Adam served as Director of Development for David Adam Realty, Inc., a real estate investment and management firm. As Director of Development, Adam structured, recapitalized, and executed investments across a variety of commercial real estate assets. Adam is a graduate of Colgate University, where he received his degree in Political Science. Anthony Mandile, Controller Anthony Mandile is a Certified Public Accountant with 20 years of experience providing consulting and accounting services. Besides providing consulting and financial reporting for FNEC, Tony is the managing partner of Ciampi & Mandile and Company. He is a member of the Connecticut Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Tony’s firm also provides investment advisory services through related entities. Prior to forming Ciampi & Mandile and Company, his positions included financial reporting for Aetna Life and Casualty Company and Aetna Separate Accounts. He also was an Associate with Blum Shapiro and Company in their tax department. Tony is a graduate of Central Connecticut State University where he received a Bachelor's degree in Accounting. Kelli Schaller, Executive Assistant Kelli Schaller joined FNEC in July 2003 as an Executive Assistant. Prior to joining FNEC, Kelli was a Program Administrator and Tutor Trainer for Literacy Volunteers of Central Connecticut from 1999 to 2003. Kelli has 10 years of experience in the area of Marketing, having served as an Account Representative for Chubb Corporation, where she earned a license in Property & Casualty Insurance and as Marketing Supervisor for a national healthcare publication, The Little Blue Book, a division of Web MD. Kelli is a graduate of The University of Connecticut with a Bachelors of Arts in Business Administration. She is a fundraising volunteer for Literacy Volunteers of Central Connecticut.
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