Mill Road Capital Management LLC

Founded in 2004, Mill Road Capital has developed an innovative investment product with a creative approach to value creation by bringing private equity governance to small public companies. Mill Road Capital applies private equity skills to small public companies. Its funds have a private equity fund structure and can invest in publicly traded equity and debt, provide primary capital of any type to support growth or help companies deleverage, and partner with management to take companies private. As market conditions change, Mill Road Capital is able to shift its focus to the investment type it believes is most attractively valued.

Thomas E. Lynch

Thomas E. Lynch is the Senior Managing Director and Founder of Mill Road Capital, established in 2004. He chairs the firm’s Management Committee and oversees all investment and portfolio activities. He began his investment career at Blackstone as the first professional dedicated to its private equity group, later serving as Managing Director for its first two private equity funds. He went on to found Lazard Capital Partners.

Mr. Lynch has served on over 15 boards, including Panera Bread (PNRA), Noodles & Company (NDLS), and Physicians Formula (FACE). Earlier in his career, he worked in advertising and at Monitor Group.

He holds a BA from Williams College, an MPhil from Oxford (first in class), and an MBA from Stanford.

Deven H. Petito

Deven H. Petito is a Managing Director at Mill Road Capital and a member of its Management Committee. He leads idea generation and due diligence for the public equity portfolio and is responsible for private equity deal origination, execution, and portfolio management. Since joining in 2014, he has led over 20 investments across multiple sectors and currently serves on the boards of Superior Industries (SUP) and Mother’s Market & Kitchen.

Previously, he worked in private equity at KKR and in investment banking at Morgan Stanley. Mr. Petito holds an AB in Economics from Princeton and an MBA from Harvard Business School.

Eric T. Yanagi

Eric T. Yanagi is a Managing Director at Mill Road Capital and a member of its Management Committee. He oversees governance and public investing and plays a key role in financing private companies. He serves on the boards of Performant Financial (PFMT), Contrail Asset Management, Mother’s Market & Kitchen, R.G. Barry, and Skullcandy, and has held roles at several former portfolio companies, including School Specialty and Physicians Formula.

Mr. Yanagi previously worked at Nautic Partners and in M&A at Credit Suisse. He holds an AB in Economics from Princeton and an MBA from UC Berkeley’s Haas School of Business.

Sarah A. Heberle

Sarah A. Heberle is a Managing Director at Mill Road Capital, where she co-manages the firm’s public equity portfolio and oversees trading and public market operations. Since joining in 2010, she has led investments in the mining sector and worked across multiple industries including aerospace, energy, and retail. She also contributed to Mill Road’s structured investment in National Technical Systems.

Previously, Ms. Heberle worked in M&A at Blackstone in New York and London. She holds a BS in Economics from the Wharton School at the University of Pennsylvania, graduating summa cum laude.

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Companies with fund stakes involved in activist actions such as 13D filing(s) or proxy campaign(s).