Huron Capital’s portfolio company StayOnline has announced the appointment of Mark Panico as CEO. Founder and former CEO Jim Higgins and the board of directors say they found a successor with the skill set and experience necessary to lead StayOnline into its next phase of growth.
“In Mark, we have identified someone who possesses strong leadership, effective communication skills, deep industry knowledge, and close customer relationships,” says Higgins.
Panico brings more than 20 years of experience in management positions at companies in the data services and manufacturing industry. He was most recently the president of the data and communications division at Legrand, which includes the C2G, Lastar, Ortronics, and Quiktron brands. At Legrand, he led the company through six acquisitions in seven years.
Huron Capital partnered with StayOnline in 2017 through its non-control equity group, Huron Flex Equity. The partnership was a result of the goal of pursuing growth organically and through acquisition opportunities.
“We believe Mark’s successes in completing acquisitions and strong leadership skills make him the right fit to guide the company moving forward,” says Doug Sutton, partner at Huron Capital. “We also would like to sincerely thank Jim for his leadership and contribution to StayOnline over the past 32 years, growing it into the leading power and data cord manufacturer that it is today. The Company’s success to date would certainly not have been possible without him.”
Huron Capital is an operationally-focused private equity firm with a long history of helping lower middle-market companies through the proprietary ExecFactor buy-and-build investment model. The firm targets control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to create value.
StayOnline, founded in 1987, manufactures and distributes a wide selection of highly-specialized power cords and cables for the power infrastructure, data center, and industrial markets. The company has one of the largest in-stock inventories of its kind and exports to more than 100 countries each year.