New Harbor Capital is excited to announce it has hired Michael Shaffer as Principal of Portfolio Operations for New Harbor’s new Portfolio Operations Group.
The Portfolio Operations Group will directly assist New Harbor’s portfolio companies with quickly building scale and operational sophistication as they grow. Michael Shaffer is the first hire into the Portfolio Operations Group, and he will lead its financial and accounting activities. Plans include adding additional resources to his team in the near term as he ramps up his involvement in the portfolio.
“New Harbor invests with a point of view in partnership with business founders and is focused on accelerated growth and business transformation,” said Tom Formolo, Partner at New Harbor Capital. “Our Portfolio Operations Group will be instrumental in achieving best practices and optimizing the change management process.”
New Harbor Partner Ed Lhee added, “Mike brings with him broad private equity experience, as well as having been CFO of multiple private equity-backed companies. His insights will be very valuable to the management teams of our portfolio companies.”
Michael Shaffer, Principal of Portfolio Operations
As the Principal of New Harbor’s Portfolio Operations Group, Mike Shaffer will be responsible for providing hands-on financial and accounting support to portfolio company management teams on an individual project basis. Mike joins New Harbor with over 20 years of strategic leadership at the corporate, investor, and advisory levels, with a specific focus on the healthcare industry for the past 15 years. Most recently, he served as the Chief Financial Officer for IZI Medical Products, a private equity-backed manufacturer of medical devices. He also previously served as the Chief Financial Officer for The Stepping Stones Group, a specialty behavioral healthcare company. Mike also has previous private equity industry experience, having worked as the Vice President of Operations for Shore Capital Partners in Chicago. Before his time in private equity, Mike worked in corporate development, finance, and strategy roles for Landauer Inc. for six years. He started his career in investment banking with William Blair. Mike holds an MBA from Kellogg School of Management and BA in Political Science from Northwestern University.