The Candescent team has an extensive and successful record acquiring and investing in growth companies in the lower middle market.
Over the course of their careers, the Partners have invested more than $1 billion in over 50 companies. From this extensive experience, the Partners have developed a level of expertise and a perspective unique to private investing in the lower middle market.
Stephen M. Jenks
Steve Jenks is a Co-Founder and Managing Partner of Candescent Partners. He has thirty years of management and investing experience in private equity, most recently as Managing Partner of Capital Resource Partners (“CRP”) where Mr. Jenks worked for 15 years. At CRP, Mr. Jenks established and led the firm’s successful investment strategy in business services and software.
Prior to joining CRP in 1993, Mr. Jenks was an Associate with Norwest Venture Partners, where he sourced, analyzed, structured and managed private equity investments in business services, consumer services, healthcare and software industries. Mr. Jenks was a founder and Director of Marketing for Concord Financial Group, a successful venture backed start-up.
Mr. Jenks graduated with a Bachelor of Arts in Economics from Williams College in 1981, and also received his MBA from New York University in 1983.
Mr. Jenks previously served on the board of directors of CRP investments Lamont Digital, Loyaltyworks, Monitronics, Fluidrive, Olympus Healthcare, Onyx Acceptance, Altra Energy Technologies, LionBridge, Rodeer Systems, Summit Acceptance, Summit Global Partners, Trintel Communications, CommercialWare, ePredix, PaySys, The Richardson Group, Ardence, Dynamic Imaging, Platform Learning, OrderMotion, and United Country Real Estate. At Candescent Partners, Mr. Jenks served on the board of Quadrant Software and Dermatology Associates. He currently serves as a director at Definiti LLC. and ENT Partners.
Alexander S. McGrath
Alexander (“Sandy”) S. McGrath is a Co-Founder and Managing Partner of Candescent Partners. He has over thirty years of management and investing experience in private equity, most recently as Managing Partner of Capital Resource Partners (“CRP”) where Mr. McGrath worked for 20 years. At CRP, Mr. McGrath established and led the firm’s successful investment strategy in healthcare services and consumer products and services.
Prior to joining CRP in 1988, Mr. McGrath was an Associate with Atlas Associates, formerly Investments Orange Nassau, where he sourced, analyzed, structured and managed private equity investments in healthcare services, media and communications and business service industries. Mr. McGrath began his career on Wall Street as an Associate in the Capital Markets Group of Prudential Securities.
Mr. McGrath graduated with a Bachelor of Arts in History from Princeton University in 1984.
Mr. McGrath previously served on the board of directors of Cirrus Technologies, Candescent Healing, High End Systems, Polar Beverages, Gulf States Steel, Kirkland’s, Odyssey Healthcare, Fantasy Entertainment, Rowland Coffee Roasters, SemperCare, Aspen Dental Management and Solis Women’s Health. He currently serves as a director at ENT Partners.
Stephen A. Sahlman
Steve Sahlman is a Partner at Candescent Partners. Mr. Sahlman joined Candescent after graduating from Harvard Business School in 2009. During the summer of 2008, Mr. Sahlman worked as a summer intern in the Private Equity group at the Audax Group, a middle market buyout firm.
Prior to business school, in 2007, Mr. Sahlman worked as an Associate at Rockwood Equity Partners, where he focused on sourcing and analyzing investment opportunities in lower-middle market companies. Before joining Rockwood, Mr. Sahlman began his career as an analyst at Enhanced Capital Partners, a New York based venture capital firm, focusing on investments in early-stage technology businesses.
Mr. Sahlman graduated with a Bachelor of Arts in History from Princeton University in 2003, and also received his MBA from Harvard Business School. He currently serves as a director at Definiti LLC. and Imagine Technology Group.
Robert Lee is a Partner at Candescent Partners. Mr. Lee joined Candescent in 2020. He has over 15 years of management, investing, and capital markets experience, most recently as an Investment Analyst at Schonfeld Strategic Advisors, where he led the firm’s investments in technology companies.
Prior to Schonfeld, Mr. Lee worked as a Senior Analyst at Point72 Asset Management, where he invested in technology, software, media, telecom, and business services companies. He also worked at Theory Capital and Passport Capital, where he sourced, analyzed, and executed investment opportunities. Mr. Lee started his career on Wall Street as an Investment Banker at JPMorgan.
Mr. Lee graduated with a Bachelor of Science in Accounting from the University of Virginia in 2004, and also received his MBA from Harvard Business School.