Terrance (“Terry”) Bruggeman currently serves as General Partner for Holder Capital Partners LLC, a Southern California focused, early stage, healthcare venture capital fund investing in healthcare delivery, information technologies, diagnostics and devices.

Mr. Bruggeman’s career has included: general partner of a private equity firm; COO and CEO of private equity and venture–backed companies, co-founder of Continental Illinois National Bank’s leasing company; Treasurer and CFO of two NYSE listed public companies; and an investment banker focused on the restructuring underperforming and troubled companies.

From 1989 to 1990, Bruggeman simultaneous served as Chief Operating Officer, Chief Financial Officer and a Director of three portfolio companies of Forstmann Little & Company, a leading leveraged buy out private equity firm including: Lear Siegler Diversified Holdings Corp, a $980 million revenues diversified aerospace parts, recreation craft, consumer products and industrial products; FL Industries, Inc., a $470 million revenues manufacturer of electrical products and industrial heaters; and Grimes Aerospace Corp., a $240 million manufacturer of interior and exterior lighting and fluid management systems for commercial and military aircraft manufacturers. Mr. Bruggeman oversaw the dramatic improvement in valuations across these businesses, including a 5.1% gross margin improvement at FL Industries and led the sale or spin-off of five businesses.

From 1990 to 1992, Mr. Bruggeman served as a general partner in Three Cities Research, Inc., a private equity firm focused on leveraged buyout investments. The principal investors are members of a billionaire French-Argentine family, the Bemberg Family, who own a controlling interest in Quilmes industrial SA, a producer of beer and soft drinks in South American (NYSE: LQU ).Mr. Bruggeman focused on the operational performance of the portfolio companies and due diligence for three new investments. He served on the Board of Directors of 10 companies and was Chairman of two. When Mr. Bruggeman joined the partnership, it had 13 portfolio investments with total revenues of $1.9 billion. Ten of the companies were significantly underperforming which internally valued the aggregate portfolio at $46 million versus the $129.2 million previously invested. He improved the operations of 9 companies and sold them for an aggregate cash gain from late 1990 until the end of 1992 of $96.7 million, a 110% improvement. As general partner, he made three new investments totaling $57.4 million in 1991-1992 which were valued at $141 million at the end of 1992, a $83.6 million gain, a 146% improvement in less than 2 years. Liquidity events for two of these three investments produced cash distributions of $101 million.

In 1993, Mr. Bruggeman was recruited by Alan Patricof, the founder and Chairman of Patricof & Co. Ventures, Inc., to enhance the performance of a number of their portfolio companies. He served as a consultant to the fund and was an interim CEO and a director of several venture and leveraged buyout portfolio companies including Network Management, Inc. and Regent Lighting. Patricof, now Apax Partners, (www.apax.com) had approximately $4.5 billion under management in the United States .

In 1996, Patricof & Co asked Mr. Bruggeman to evaluate a possible new investment. As a result, he became Chairman, President and Chief Executive Officer, (and a sizable co-investor in the Series B round) of Diversa Corporation, a biotechnology company that became the global leader in the discovery of novel bioactive compounds for use in industrial applications, chemical processing, agriculture and pharmaceuticals. Diversa had largely failed after its $11.0 million Series A investment in 1994. Mr. Bruggeman repositioned the Company from a supplier of novel enzyme reagents to a portfolio of 40 partnered and internal product applications focused on uses in agriculture, chemical processing, industrial and pharmaceutical applications. He raised $57.5 million from venture and mezzanine investors and took Diversa from a $16.1 million pre-money valuation to raising $200 million in an initial public offering (February 2000) which valued the company at $819 million. Shortly after the offering, Diversa was valued at $3.4 billion. The venture and mezzanine investors realized gain, at the expiration of the IPO lockup, of 10.8 X for the Series A venture investors, 16.8X for the Series B venture investors, 13.1X for the Mezzanine investors and 4.9X for the strategic investors - a $666 million total gain to the investors. He led Diversa’s efforts by entering into alliances with committed funding of $184.2 million with Boehringer Mannheim GmbH; Sigma Chemical; Finnfeeds International Limited; The Dow Chemical Company; Novartis Agribusiness Biotechnology Research Inc and Novartis Seeds AG; Rhone-Poulenc Animal Nutrition S.A. and ZymeQuest. These alliances have an expected value based on future milestones, royalties and product sales of more than $500 million.

In 1999 at the request of the founders, Mr. Bruggeman became a director of Provasis Therapeutics, Inc. Shortly thereafter, the venture investors asked him to serve as Chairman and then President and Chief Executive Officer of this medical device company developing compounds for use a endovascular occlusion devices for the treatment of neurovascular and peripheral vascular diseases. He raised $11.5 million from venture capital firms and a pharmaceutical partner.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 


Current Corporate Boards:

Somantis Limited (Chairman)

Current Non-Profit Boards:

OCTANe (Steering Cmte.)

RTA@CONNECT (Life Science Reviewer)

CSU , San Marcos (Advisor Director)

Burnham Institute (Trustee)

BIOCOM (Director, member of the Exec. Cmte.)

Chairmen’s Roundtable (Director, former Chairman)

Lincoln Park Zoological Society (Director and former CEO)


 


Previous
Boards

SureBeam Corporation (Director and Chief Executive Officer)

Provasis Therapeutics, Inc. (Director and CEO)

Yulex Corporation

Diversa Corporation (Director and CEO)

SYSCON Corporation (Director and CEO)

PIATL Holdings Inc. (Director and Chairman)

Network Management, Inc. (Director and CEO)

Regent Lighting Corporation

Garden Ridge Pottery, Inc.

Miss Erika, Inc.

Pameco Inc.

Alpha Wire Inc.

SGI Inc.

Silver Eagle Transport Inc.

Gulf Coast Lubrication Inc. (Director and Chairman)

Stationers Distributing Corp.

Curtis Industries Inc.

Lear Siegler Holdings (Director and Chief Operating Officer)

Harnischfeger Industries Inc.

Bridge Products Inc.

 

 


Significant
Awards

National Historic Preservation Trust Award for Café Brauer in Lincoln Park -1987

UCSD CONNECT –

Bill Otterson Award for Chairmen’s Roundtable


   

 

Mr. Bruggeman received his BA from the University of Notre Dame and attended the MBA program at the University of Chicago . He resides in Southern California , is married to Dianne Dyer, who is the VP Human Resources for Broadcom Corporation, and has two grown children and two grandsons.

 

 

 
 

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