Triangle Capital LLC
Triangle Capital LLC is a privately-held financial advisory firm founded in New York in 2003 by three partners who all had successful careers at large Wall Street institutions.
Richard Kestenbaum spent over 30 years as an investment banker at several firms, most recently at Drexel Burnham Lambert where he was a partner, and a boutique firm called Financo, Inc. Errol Glasser held prominent positions within Kidder Peabody and Marc Winthrop developed expertise at Salomon Smith Barney and Prudential. The firm has made a name for itself in advising retail, apparel and consumer product companies such as Cross Pen, Red Envelope, Liz Lange Maternity, and Iconix Brand Group but also counts a diverse group of non retail companies on its roster of clients.
Kestenbaum is a regular speaker at the Fashion Institute of Technology, the New York State Society of Certified Public Accountants, in China at the invitation of the Chinese Government to members of the Chinese apparel manufacturing sector and other industry forums. He is often quoted in Women’s Wear Daily and other industry publications.
History
Triangle Capital LLC was founded in 2003 when Glasser and Winthrop, who reconnected after working together at Kidder Peabody, joined forces with Kestenbaum. Kestenbaum had met Glasser when he was on the opposing side of a transaction years before.
Kestenbaum began his career at Drexel Burnham Lambert where he was a partner in the firm's New York office. Following the collapse of Drexel, Kestenbaum left to join Financo, Inc. where he served as managing director conducting the majority of that firm’s apparel transaction business during his 10 year tenure there. Kestenbaum has also written three books on finance and computer science and taught International Business at New York University’s Stern School of Business.
Glasser is a native of South Africa, but came to the U.S. in 1978 after qualifying as a Chartered Accountant. He began his finance career at Revlon in corporate development. After joining Kidder Peabody in 1986, Glasser quickly rose in the ranks, joining the Operating Committee in 1991 and became the head of West Coast banking. After leaving Kidder, Glasser went out on his own, purchasing and running several different companies before getting back into investment banking. He has served on numerous boards including Tyco Toys, Montgomery Ward, Pay ‘n Save, Telescene and Regency Affiliates.
Winthrop, a nuclear engineer by training, entered into investment banking with Kidder Peabody in 1987 and later the M&A department at Salomon Smith Barney. In 1989, he left to become an entrepreneur and founded the Orlando Bagel Factory, retail chain in Florida. In 1997, Winthrop sold the bagel company and joined the New Orleans office of Advantage Capital Partners, a $750 mm private equity firm which specializes in CAPCO’s. During his tenure at Advantage, Winthrop took investment and operating roles at a diverse group of companies including the Rainforest Crunch company, Intelligent Machine Concepts, Chapman Instruments and PressCorps. After spending a substantial amount of time in New York, Winthrop returned to Wall Street to join the Prudential Volpe technology group. Winthrop focuses his time on a diverse group of companies in such areas as technology, recycling and industrials.
Business Services
Triangle Capital’s primary role is providing advice to middle market companies relating to mergers and acquisitions. Much of its work is sell-side engagements where the firm is hired to sell a company for its owners. Triangle Capital is also actively involved in raising capital for companies that are looking to grow, or want to recapitalize.
In addition, the firm has worked with distressed firms in and out of bankruptcy.
Triangle also includes fairness opinions among its services.