Byron Trott

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Byron Trott
Byron trott.jpg
Born (1958-12-02) December 2, 1958 (age 60)
Springfield, Missouri, United States
ResidenceWinnetka, Illinois, United States
NationalityAmerican
Alma materUniversity of Chicago (AB, MBA)
OccupationInvestment banker
Spouse(s)Tina Trott

Byron David Trott (born December 2, 1958) is the founder, chairman and CEO of BDT Capital Partners, a merchant bank that provides advice and capital to family and founder-led companies. Formerly, Trott was vice chairman of Investment Banking at Goldman Sachs. Warren Buffett has called Trott the only banker he trusts.[1][2]

Early life and education[edit]

Raised in Union, Missouri, Trott received an AB from the University of Chicago in 1981, and an MBA from the University of Chicago Booth School of Business in 1982.[3] As an undergraduate, he played on the varsity baseball and football teams, and joined the Chi Upsilon chapter of Phi Gamma Delta.[4] Trott was the 1981 recipient of the Amos Alonzo Stagg Medal, an award presented to the senior male student-athlete at the University of Chicago with the best overall record for academics, athletics and character.[5]

Professional career[edit]

In 1982, Trott joined Goldman Sachs as a stockbroker, joining Goldman's investment banking division in 1988 and serving underneath future U.S. Treasury Secretary Henry Paulson.[6] He eventually rose to become vice chairman of investment banking at Goldman Sachs.[6] He advised many of the wealthiest families and closely held companies in deals ranging from the $23 billion Mars-Wrigley combination, the Pritzker’s $4.5 billion sale of Marmon Holdings to Berkshire Hathaway, and the $5 billion capital infusion from Berkshire Hathaway into Goldman Sachs in September 2008 during the financial crisis.[7]

Trott left Goldman Sachs in early 2009 to strike out on his own.[8] He runs Chicago-based BDT Capital Partners. BDT Capital Partners is a merchant bank that provides long-term capital and advice through its affiliate BDT & Company to help family and founder-led businesses pursue their strategic and financial objectives.[9] BDT Capital Partners manages more than $9 billion across its investment funds from its global limited partner investor base.[9] Among the fund’s investments are a partnership with the Stephen family in Weber-Stephen Products,[10] a manufacturer of barbecue grills; a minority stake in Pilot Flying J, which operates U.S. highway rest stops and is controlled by Tennessee's Haslam family; a minority investment in Tory Burch LLC;[11] the Wrigley Building in Chicago;[12] a partnership with the Rales family in Colfax, an industrial manufacturer,[13] a partnership with the Eckstein family in Marquette Transportation;[14] a partnership with Alliance management and co-investors in Alliance Laundry Systems,[15] the world’s leading commercial laundry equipment manufacturer; and a partnership with Cox Enterprises and its founding family to facilitate the acquisition of Dealertrack.[16] BDT Capital Partners also partnered with the Malnati family to acquire an equity stake in Lou Malnati's Pizzeria[17] and partnered with founder and CEO Mark Kaufman on an investment in Athletico Physical Therapy, a provider of orthopedic rehabilitation services.[9] Additional minority portfolio investments include Peet’s Coffee & Tea, Caribou Coffee, Einstein Bros. Bagels and Krispy Kreme Doughnuts, in addition to JDE and Keurig Green Mountain, all in partnership with JAB, the investment vehicle of the Reimann family from Germany.[18]

From an advisory standpoint, BDT & Company has advised many leading business-owning families and their companies, including Alberto-Culver, Carlson, Cox Enterprises, EXOR, Guardian Industries, Guthy-Renker, Hyatt, JAB, Mars, Molex, S. C. Johnson & Son, and Wrigley.[18][19]

Personal life[edit]

Trott serves as a trustee of the University of Chicago, founded the Jeff Metcalf Internship Program and helped to launch the Trott Business Program, which provides undergraduate UChicago students with practical work experience and mentoring.[20] Trott also is a director of Conservation International and in 2011 was inducted into the Horatio Alger Association of Distinguished Americans and now serves as President of the Association.[21]

References[edit]

  1. ^ Moore, Heidi N. (2009-03-30). "Byron Trott to Leave Goldman Sachs. Warren Buffett Signs On". The Wall Street Journal. Retrieved 2010-06-13.
  2. ^ Blackhurst, Chris (2008-09-08). "Billionaire Buffett and the only banker he trusts". London Evening Standard. Archived from the original on 2011-01-03. Retrieved 2010-06-13.
  3. ^ Foley, Stephen (2009-04-01). "Trott on the march: is he Buffett's chosen successor?". The Independent. London.
  4. ^ https://campaign.uchicago.edu/donor-recognition/spotlight/tina-and-byron-trott-house/
  5. ^ http://athletics.uchicago.edu/about/history/stagg-medal
  6. ^ a b "When This Banker Talks, Even Buffett Listens". The New York Times. 2008-10-07.
  7. ^ Berman, Dennis K. (2011-05-16). "The Midwest Medicis' Favorite Financier". The Wall Street Journal.
  8. ^ Moore, Heidi N. (2009-03-30). "Byron Trott to Leave Goldman Sachs. Warren Buffett Signs On". The Wall Street Journal.
  9. ^ a b c "Athletico Physical Therapy Welcomes Growth Investment From BDT Capital Partners, LLC". TheStreet.com. November 15, 2016.
  10. ^ Bryan Gurley (June 27, 2013). "Weber Grills: Mostly Made in America by Private Equity". Bloomberg L.P.
  11. ^ Yerak, Becky (January 2, 2013). "BDT Capital takes stake in Tory Burch". Chicago Tribune.
  12. ^ Melissa Harris and Emily Bryson York (September 17, 2011). "BDT Capital Partners to buy Wrigley Building, sources say". Chicago Tribune.
  13. ^ Yerak, Becky (March 20, 2012). "BDT Capital begins raising additional $1B". Chicago Tribune.
  14. ^ "Marquette Transportation Company Holdings, LLC Forms Partnership with BDT Capital Partners, LLC". Business Wire. March 31, 2015.
  15. ^ Lynne Marek (August 7, 2015). "Byron Trott is now king of Speed Queen". Chicago Business.
  16. ^ "Cox Automotive is buying Dealertrack for $4 billion". Fortune. June 15, 2015.
  17. ^ Phil Vettel (September 21, 2016). "Lou Malnati's sells a slice to investor Byron Trott's firm". Chicago Tribune.
  18. ^ a b Adam Lashinsky (September 17, 2011). "Byron Trott: The billionaires' banker". Fortune.
  19. ^ Frank Chaparro (January 10, 2017). "Warren Buffett's favourite banker just landed a $9 billion dollar deal". Fortune.
  20. ^ Sarah Manhardt (November 15, 2016). "$10 million gift supports newly named Trott Business Program". UChicagoNews.
  21. ^ "Horatio Alger Association of Distinguished Americans".