NEW YORK (April 19, 2016) — Soundcore Capital Partners L.L.C., a control-oriented private equity firm, has hired former American Tire Distributors Holdings Inc. (ATD) CEO William (Bill) M. Berry as operating partner.
New York-based Soundcore, which invests in lower middle market businesses, said Mr. Berry's role will be to “provide management and operating expertise to Soundcore's portfolio companies, with a focus on specialty distribution and business services.”
Jarrett Turner, managing partner at Soundcore, called Mr. Berry “a remarkable leader with more than 35 years of experience under his belt.
“Our ability to provide portfolio company CEOs with guidance from someone who has faced similar challenges on a larger scale is invaluable. Bill is the perfect fit to do this with our team, given his industry expertise and years of experience working with private equity sponsors.”
Mr. Berry was with ATD from 2009 to 2015, during which the wholesaler grew from $1.9 billion in sales to more than $5 billion in sales, while more than tripling the company's EBITDA (earnings before interest, taxes, depreciation and amortization). He began his automotive aftermarket career at Interstate Tire Co. — a predecessor of ATD — in 1984 and, according to Soundcore, helped facilitate the sale of that company to Wingate Capital Partners in 1995. Following mergers that thereafter created ATD, Mr. Berry was named COO and eventually CEO.
Prior to his time with Interstate, he served as a controller and vice president of finance at beverage company Dr. Pepper in one of its bottling and distribution operations. Mr. Berry began his career as a certified public accountant after graduating from Virginia Tech with a bachelor's degree in business administration.