Cortec Group has a cohesive team, led by Managing Partners who have worked together for nearly 15 years. We have built our firm with talented and diverse personnel who have meaningful operating, private equity, and transaction experience.
David L. SchnadigManaging Partner
Dave joined Cortec in 1995 as a Managing Director, was promoted to Partner in 2000 and Managing Partner in 2010. Prior to Cortec, Mr. Schnadig was Assistant to the Chairman of SunAmerica Inc. where he co-led merger and acquisition activities and managed a $350 million alternative asset investment portfolio. Prior to SunAmerica Inc., Dave was an investment banker at Lehman Brothers, Inc. and a management consultant at Cresap, McCormick & Paget. Mr. Schnadig earned a M.B.A. degree from the Kellogg School of Management at Northwestern University and holds a B.A. degree, with honors, from Trinity College where he was elected to Phi Beta Kappa.
Jeffrey A. LipsitzManaging Partner
Jeff joined Cortec in 1998 as a Managing Director, was promoted to Partner in 2005 and Managing Partner in 2010. Prior to Cortec, Mr. Lipsitz was Vice President of Corporate Development for PLY GEM Industries, Inc., a U.S. manufacturer and distributor of specialty building products. At PLY GEM, Jeff was responsible for merger and acquisition activities, strategic planning, and financial analysis of its ten operating subsidiaries as well as the operating performance of several businesses. Mr. Lipsitz earned a M.B.A. degree from the Columbia University Graduate School of Business and holds a B.A. from Union College.
R. Scott SchaflerManaging Partner
Scott founded Cortec Group in 1984. Prior to Cortec, Mr. Schafler was Vice President of Operations and a Director of Condec Corporation. Within Condec, all commercial/industrial businesses reported to Scott. He was also the founder and Chairman of UC Industries, Condec’s joint venture with the United States Gypsum Company and a Director of Unimation Inc. He has served as a Director of Fidelity Bank, Chock-ful-o-Nuts and Sequa Corporation. Scott earned a M.B.A. degree, with honors, from the Harvard Graduate School of Business Administration and holds a B.A. from Johns Hopkins University.
Michael E. NajjarManaging Partner
Mike joined Cortec in 2004 as a Managing Director, was promoted to Senior Managing Director in 2005, Partner in 2010 and Managing Partner in 2015. Prior to Cortec, Mr. Najjar was a Managing Director at Cornerstone Equity Investors where he was actively involved in sourcing, financing, closing and managing a wide variety of transactions including private company recapitalizations, divisional acquisitions, public to private transactions and build-ups in the manufacturing, distribution and business services sectors. Prior to Cornerstone Equity Investors, Mike was an investment banker at Donaldson, Lufkin & Jenrette. Mr. Najjar earned a M.B.A. from The Wharton School at the University of Pennsylvania and holds a B.A. from Cornell University.
Jonathan A. SteinPartner
Jon joined Cortec in 2000 as a Managing Director, was promoted to Senior Managing Director in 2005 and Partner in 2010. Prior to Cortec, Mr. Stein was a Principal of Three Cities Research, Inc. (TCR), a private equity investment firm. While at TCR, Jon was responsible for sourcing, evaluating and executing acquisitions as well as developing and divesting portfolio investments. Mr. Stein earned a B.A. degree, with honors, from Harvard College.
Jeffrey R. ShannonPartner
Jeff joined Cortec in 2002 as an Associate, was promoted to Senior Associate in 2004, Vice President in 2006, Managing Director in 2010 and Partner in 2015. Prior to Cortec, Mr. Shannon was an Analyst in investment banking at Salomon Smith Barney, where he worked in the financial sponsor coverage group in New York and the mergers and acquisitions group in London. Jeff pursued his undergraduate degree at the United States Naval Academy and Texas A&M University, where he earned a B.S. in Ocean Engineering. Mr. Shannon also earned a M.S. in Civil Engineering from the University of Illinois.
Eugene P. NesbedaSenior Managing Director
Gene joined Cortec in 2008 and is currently a Senior Managing Director. Prior to Cortec he was a Managing Director of CITIC Capital Partners, a Shanghai, China based private equity group where he managed the firm’s buyout and strategic minority investments in U.S. based middle-market companies seeking access to Asian manufacturing sources and market opportunities. Prior to CITIC, Mr. Nesbeda was Vice President of Corporate Development at General Electric and later head of GE Plastics’ Structured Products Group. Gene also served as President of the Plastics Packaging Division of Tetra Pak Group and was a founding member of Strategic Planning Associates (now Oliver Wyman). Mr. Nesbeda earned a M.B.A., with honors, from the Harvard Graduate School of Business Administration and holds a B.S. from the Columbia University School of Engineering and Applied Science.
James W. ("Bill") TuckerManaging Director
Bill joined Cortec Group in 2004 as an Associate, rejoined Cortec in 2008 as a Senior Associate, was promoted to Vice President in 2010 and Managing Director in 2015. Prior to Cortec, Mr. Tucker was an Analyst in the mergers and acquisitions group at Wachovia Capital Markets, LLC. Bill received a M.B.A. degree from the Columbia University Graduate School of Business and graduated cum laude from the College of William & Mary with a B.B.A. in Accounting.
Douglas R. KruepManaging Director
Doug joined Cortec in 2015 as a Managing Director. Prior to Cortec, Mr. Kruep was Vice President and General Manager, U.S. Sports & Entertainment at The Topps Company. Prior to his role at Topps, Doug worked with Jarden Corporation where he served as Vice President and General Manager – Games, Arts & Crafts. Before joining Jarden, Mr. Kruep held several marketing positions with Sanford Brands, a Newell Rubbermaid Company and spent several years with Tommy Armour Golf Company. Doug earned a M.B.A. degree from the Kellogg School of Management at Northwestern University and has a B.S. in Business Administration from Saint Louis University.
Robert W. WhippleManaging Director
Rob joined Cortec in 2016 as a Managing Director. Prior to Cortec, Mr. Whipple was a Principal at Apax Partners, where he helped manage the Consumer practice in North America and also participated in a number of key transactions in the Services and Healthcare sectors. Prior to joining Apax Partners, Rob was an Associate at Aurora Capital Group and an Analyst in investment banking at Morgan Stanley. Mr. Whipple earned a M.B.A. from The Wharton School at the University of Pennsylvania and a B.A. in Economics and Politics from Pomona College.
Ajay ChokshiManaging Director
Ajay joined Cortec in 2017 as a Managing Director. Prior to Cortec, Ajay was Group President with Surgical Care Affiliates, a national outpatient surgery platform, where he was a member of the Senior Leadership Team and had general management responsibilities for the Midwest and West Groups. Before joining Surgical Care Affiliates, Ajay worked with DaVita Healthcare Partners and as a management consultant. Ajay earned a B.S. and B.A. from The George Washington University.
Allison Sacks KlazkinVice President
Allie joined Cortec Group in 2009 as an Associate and was promoted to Vice President in 2014. Prior to Cortec, Mrs. Klazkin was an Analyst at Sagent Advisors where she worked on middle market mergers and acquisitions, financial advisory services and private placement transactions. Allie graduated with honors from Washington University in St. Louis with a B.A. in Economics and a concentration in Finance.
Jack T. MinerVice President
Jack joined Cortec Group in 2011 as an Associate, and was promoted to Vice President in 2016. Prior to Cortec, Mr. Miner was an Analyst at Piper Jaffray & Co. where he worked in the industrials and financial sponsor coverage groups. Jack graduated with honors from the University of Southern California with a B.A. in Economics and a minor in Business Administration.
Jacob S. GrossettiSenior Associate
Jacob joined Cortec Group in 2014 as an Associate and was promoted to Senior Associate in 2017. Prior to Cortec, Mr. Grossetti was an Associate at PNC Mezzanine Capital where he evaluated and executed junior capital investments across a wide range of industries. Prior to PNC Mezzanine Capital, Jacob was an Analyst at both SunTrust Robinson Humphrey and Morgan Keegan, where he worked on middle market mergers and acquisitions, financial advisory services and public equity offerings. Mr. Grossetti graduated with high honors from the University of Pittsburgh with a B.S. in Finance.
Jessica D. PalfreyAssociate
Jessica joined Cortec Group in 2015 as an Associate. Prior to Cortec, Ms. Palfrey was an Analyst at BlackArch Partners where she worked on middle market mergers and acquisitions, private capital solutions and strategic advisory services. Jessica graduated with honors from Davidson College with a B.A. in Economics and a concentration in Applied Mathematics.
Nicholas M. CooperAssociate
Nick joined Cortec Group in 2016 as an Associate. Prior to Cortec, Mr. Cooper was an Analyst at Piper Jaffray & Co., where he worked on middle market mergers and acquisitions and strategic advisory services. Prior to Piper Jaffray, Mr. Cooper was an Auditor at Ernst & Young LLP. Nick graduated from the University of North Carolina – Chapel Hill with a Master of Accounting and the University of Kentucky with a B.B.A. in Finance.
Michael S. NeubergerChief Financial Officer
Michael joined Cortec in 2015 as our Chief Financial Officer. Prior to Cortec, Mr. Neuberger was a Senior Vice President at Cerberus Capital Management, L.P., where he managed the Fund Accounting team covering the Institutional, Real Estate, and Non-Performing Loan Funds. Prior to Cerberus, Michael spent 16 years at Goldman Sachs in the Controller Group responsible for financial, product, and management reporting. Mr. Neuberger is a CPA, earned a M.B.A. in Finance from Fordham University and holds a B.S. from Brooklyn College.
Kim OrtizStaff Accountant
Kim joined Cortec in 2005 and is a Staff Accountant.
Tina ChiuOffice Manager
Tina joined Cortec in 2007 and is the Office Manager.
Deb MillerExecutive Assistant
Deb joined Cortec in 2016 and is an Executive Assistant.
Betsy KrollExecutive Assistant
Betsy joined Cortec in 2018 and is an Executive Assistant.
Analiese joined Cortec in 2018 and is the Receptionist.
Since inception, Cortec Group has acquired more than 75 U.S. and Canadian middle-market companies and raised six institutional funds with aggregate capital commitments of more than $2.6 billion.