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Blackford Capital expands team

Friday, March 21, 2025
Opalesque Industry Update - Blackford Capital, a leading private equity firm focused on investing in lower middle-market businesses, has appointed of Rick Lopez as Managing Director. With over 25 years of experience in finance, investment banking, and private equity investing, Rick brings a wealth of expertise to the firm.

In his new role, Rick will primarily oversee Blackford Capital's fundraising efforts, while also contributing to transaction sourcing, investment analysis, portfolio construction and management, deal financing, and internal operations. He will be based in the firm's Chicago office.

"We are thrilled to welcome Rick to the Blackford Capital team," said Martin Stein, Founder and Managing Director of Blackford Capital. "Rick's extensive background in capital raising, deal structuring, and his deep understanding of both investment banking and private equity make him an ideal fit to help guide the firm through its next phase of growth."

Prior to joining Blackford Capital, Rick was a Partner and Co-Founder at Rush Street Capital, a middle-market investment bank specializing in capital raising for private equity firms and their portfolio companies. In this capacity, he led the capital markets group and was responsible for deal sourcing, execution, sponsor and capital provider relationship management, and deal structuring and negotiation. Rick co-managed six deal professionals and over a dozen interns in his time at Rush Street. Additionally, Rick worked closely with Rush Street's investment arm assisting with deal sourcing, fundraising, diligence, the closing process, portfolio management, and served on the boards of the two portfolio companies. While at Rush Street Capital, Rick was involved with 93 total successful middle market raises totaling over $1.4 billion in capital commitments.

Jeff Johnson, Managing Director of Blackford Capital, noted that, "Rick's direct working experience with our team and our portfolio gives him a level of familiarity with Blackford Capital that has allowed him to be extremely effective since joining us." Rick assisted Blackford Capital as an advisor while at Rush Street between 2016 and 2024. During that period, Rick successfully completed 18 different mandates for Blackford Capital raising over $367 million in capital. Rick completed raises for six of Blackford Capital's current seven portfolio companies, including the initial platform investments for Helio Outdoors, Outova, PACIV, Security Fire Systems, and Design Environments. Rick also assisted with capital raises for key add-on acquisitions, such as Empire Distributing for Outova and Mortech Manufacturing for the recently exited Mopec investment.

Rick's extensive career also includes over 15 years at major financial institutions, including Chase Bank, LaSalle Bank, BMO, and Huntington Bank, where he gained valuable experience in retail banking and corporate bond units as well as commercial lending.

Beyond his professional accomplishments, Rick is an active member of the business community, serving on several boards. He is also a board member and treasurer of the Kellogg Alumni Club of Chicago-Western Suburbs and actively participates in ACG Chicago's Private Equity and M&A Committee.

Rick earned his bachelor's degree in business management from the University of Illinois at Chicago and his MBA from Northwestern University's Kellogg School of Management. Outside of work, Rick enjoys family time, early morning F3 Naperville bootcamps, and spending time at Wrigley Field.

"I am excited to join Blackford Capital and look forward to working with the team to help drive the firm's mission of creating value for our investors and portfolio companies," said Rick Lopez. "The firm's strong track record and commitment to supporting industrial businesses in the lower middle-market space present great opportunities for growth, and I am eager to contribute to its continued success and lead our Chicago office."

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