Michael Brofft joined Fort Point Capital in 2020 as a Vice President.
Prior to Fort Point, Michael was an Associate at Siguler Guff, where he invested in lower middle market companies across the business services, industrial and consumer industries. He began his career as an investment banking analyst at Keefe, Bruyette & Woods, advising clients on M&A and financing transactions in the commercial finance, consumer finance and broker-dealer industries.
Michael received a B.A. in economics from Williams College and an M.B.A. from the Wharton School at the University of Pennsylvania. He enjoys golf, art history and is a lifelong fan of the Philadelphia Flyers.
Questions & answers
Our partnerships are built on transparent, two-way dialogue and collaboration. This partnership mentality is present throughout our hold period, starting with our formal strategic planning process at the onset of an investment and continuing throughout our hold period where management input on hires, acquisition opportunities or strategic investments are always valued. We are active partners alongside our portfolio companies, with each member of our team from the most junior to the most senior member playing an active role with our investments.
I’d tell that owner to take the time to speak to sellers and managers across your potential PE partner’s portfolio. There’s no better way to build conviction around a potential partnership than hearing from those who have walked before you. Some of my key questions would be: How did the team manage through a difficult situation? Was your voice always heard or considered? And what support did you receive while navigating periods of growth or challenges?
One of the biggest challenges we and our executive teams face is the prioritization of value creation opportunities. As with most family-owned businesses, our partnership is often a catalyst for management teams to step back and think about their wishes and wants for their business in its next phase of growth. Whether it’s a strategic hire, M&A opportunity or technology investment, there’s always more that can be done but the challenge to prioritize and optimize so as to not disrupt the success and trajectory of a business.
I love learning about different business models and meeting the managers behind these companies. The best part of my job is hearing the creation and success story behind a company while spending time with management teams on-site or out in the field. In our part of the market, there are so many niche service-oriented companies that each one is always unique and different. You really do learn something new every day.
I’m typically spending time with my wife and son, either out to an early dinner at our favorite South End restaurant or getting away to Maine for the weekend. I’m also an avid Philadelphia sports fan and enjoy escaping to the golf course whenever I can.