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This profile was last updated on 11/1/14  and contains information from public web pages and contributions from the ZoomInfo community.

General Partner

Serent Capital LLC
1 Embarcadero Center, Suite 1150
San Francisco, California 94111
United States

Company Description: At Serent Capital, we pride ourselves on being approachable and we are always keen to meet entrepreneurs, intermediaries, and executives who share our passion for...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • MA
    Stanford University
  • MBA
    Stanford University
  • MBA
    Stanford University's Graduate School of Business
29 Total References
Web References
Serent Capital : Team
www.serentcapital.com, 1 Nov 2014 [cached]
David Kennedy
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David Kennedy
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David Kennedy, Partner
David is Serent's co-Founder and one of its Partners. He leads Serent's investments in healthcare, tech-enabled business process outsourcing (BPO) and education. Prior to co-founding Serent, David was co-CEO of ServiceSource (NASDAQ: SREV), a BPO and SaaS company that served many of the world's leading technology companies. Under David's leadership, ServiceSource grew revenues, profits, and employees organically by 10x and returned over 20x to its shareholders. Previously David was a consultant at McKinsey & Company in London, Dublin and San Francisco, and an Operations Manager at HJ Heinz in Central & Eastern Europe. David has undergraduate and graduate degrees in Business from University College Dublin in Ireland, both received with first class honors, and received the IAM Gold Medal as the leading undergraduate of his year. He has also received an MBA and MA from Stanford University, where he was an Arjay Miller scholar. He was awarded and subsequently declined a Fulbright Scholarship for his studies at Stanford.
"They really like the company, the ...
www.securitysystemsnews.com, 17 Sept 2014 [cached]
"They really like the company, the team and the market that it was in," David Kennedy, a director at Harris Williams & Co., a middle market investment bank that advised BHC on the deal, told Security Systems News.
He added, "I think there's a lot that Behrman thinks they can do with [BECO], by maybe doing some additional acquisitions to make the company even larger."
Behrman bought BECO from another PE firm, Freeman Spogli & Co., to which Behrman had sold the company in 2010, after owning it for 12 years. The repurchase deal closed Aug. 29 and the sale price and terms of the deal are not being disclosed, Kennedy said. He described the transaction as "a good deal," adding, "I think it will be very beneficial for the customer base and for the company as a whole."
He told SSN that it's unusual that a PE firm buys back a company it previously owned. "It's not too often where that happens," Kennedy said. "A lot of times, as companies grow, they go to larger private equity funds."
BECO did grow during the past four years it was owned by Freeman Spogli, Kennedy said, "but it's still in the size range that fits for [Behrman], so it ended up working out."
...
Owning a company that length of time also is unusual for a PE firm, which more typically sells after about four years, like Freeman Spogli did, according to Kennedy.
...
"With private equity funds, they do sort of have a limited amount of time for owning companies before they have to return money to their limited partners," Kennedy explained. "And so part of the dynamic of the original sale back in 2010 was just driven by that: It was sort of time for [Behrman] to sell [BECO]."
Harris Williams & Co., whose U.S. headquarters are in Richmond, Va., advised BECO on both the 2010 deal and this one. "We know the company pretty well by now," Kennedy said.
He said Behrman's continued interest in BECO, "says that if you know [BECO], it's a great team that you want to get behind and back."
BECO sells directly to installers, Kennedy said. From the installers' perspective, he said, "There shouldn't be any change at all, just because the ownership changed. It will be the same business as usual. In fact, installers could benefit because there "could be additional product opportunities" in the future.
Harris, Williams & Co.'s Specialty Distribution Group led the transaction. In addition to Kennedy, the group included Bob Baltimore, Derek Lewis, and Marshall Croft.
...
David Kennedy,
Our leadership team drives the business forward. | ServiceSource: We grow service share
www.servicesource.com, 20 Jan 2009 [cached]
David Kennedy, Member of the Board David Kennedy is a member of ServiceSource's Board of Directors. Before his involvement with ServiceSource, Kennedy was a management consultant at McKinsey & Company in multiple offices across Europe and the United States. His experience includes more than 30 client engagements, focusing on operational efficiency improvement, product marketing and sales, mergers and acquisitions and corporate and business strategy. Kennedy worked at H.J. Heinz as the Operations Manager for Central and Eastern Europe. Kennedy holds an MBA from Stanford University's Graduate School of Business, where he was an Arjay Miller Scholar. He also holds undergraduate and graduate degrees in Business from University College Dublin in Ireland and an MA from Stanford University in International Policy Studies. He was awarded a Fulbright Scholarship at Stanford.
Serent Capital : News
www.serentcapital.com, 4 April 2008 [cached]
David Kennedy and Kevin Frick founded Serent Capital with the goal of building an institution that would be recognized as the premier source of capital and expertise for high growth services businesses.
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Mr. Kennedy most recently was the President of ServiceSource, where he remains as Chairman, and where he and his partner led the company through a 20X increase in revenue and enterprise value. Mr. Kennedy also sits on the boards of several high growth companies, where he has been a personal investor.
"Having led a successful services company, I have experienced both the thrills and the challenges of driving growth. Helping CEOs navigate those same challenges has been rewarding for me as a personal investor and board member, and I am looking forward to partnering with Serent's portfolio company CEOs to help build great businesses," said Mr. Kennedy.
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David Kennedy and Serent were spotlighted in the monthly feature, "Five Questions With . . ." in Buyouts Magazine. David discussed fundraising, Serent's focus on services businesses and the deal environment. Click here for more >>
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Kevin Frick spoke to Dow Jones LBO Newswire to discuss the types of companies Serent is targeting and provide additional background on David and himself.
David Kennedy, co-founder ...
www.capstonellc.com, 1 Aug 2012 [cached]
David Kennedy, co-founder and General Partner of Serent Capital, added: "The company's extraordinary growth is a testament to the founder's vision and execution to date.
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