Peppertree Capital Management, Inc.

Investing in the
future of
communication
infrastructure.

 

About Us

Peppertree Capital Management, Inc. is a private equity firm focused on making investments in growing communication infrastructure companies, both in the United States and internationally.

Peppertree’s core investment thesis is that the demand for data will overwhelm the wireless networks for the foreseeable future. Our mission is to discover ways to capitalize on that thesis, including by investing in companies that own the towers, the wireless spectrum and the fiber networks that make your mobile phone work.

Peppertree was formed in 2004 and is currently investing out of its tenth private equity fund and an evergreen debt fund. Peppertree has more than $6.0B under management and has made more than 145 investments in communication infrastructure companies in 14 countries. Virtually all of our capital is from institutional investors including insurance companies and university endowments.

In addition to sponsoring tower, DAS and communication rooftop developers, fiber network operators and spectrum auction participants, Peppertree seeks investments in real estate related to its areas of focus.

Investment Profile

Peppertree is primarily a growth equity investor, but we are willing to consider other types of transactions as well as investments structured at any place in the capital stack.

Unlike most capital sources, we are willing to provide as little as a few million dollars to companies that have potential. We have also provided several hundred million dollars to companies that continue to grow. Our style is hands-on and patient.

>$6.0B Under Management
>145 Investments Since
2004

Our Team

Experience, focus and consistency matter. Peppertree’s team has been operating and investing in communication infrastructure companies since 1997. The Co-Presidents have been partners since Peppertree’s inception in 2004.

We have a rigorous expectation of excellence. Our team is comprised of high integrity people with outstanding academic and operating credentials.

Investment Team

Ryan Lepene

Ryan Lepene

Co-President

Ryan Lepene

Co-President 440.528.0328

Ryan is Co-President of Peppertree Capital Management, Inc. Prior to joining Peppertree, he worked in investment banking with both Salomon Smith Barney and Brown Gibbons Lang & Company. Previously, Ryan was employed by Lehman Brothers and PricewaterhouseCoopers.

Ryan earned his BS degree from The Ohio State University and his MBA from the Yale School of Management.

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F. Howard Mandel

F. Howard Mandel

Co-President

F. Howard Mandel

Co-President 440.528.0330

Howard is Co-President of Peppertree Capital Management, Inc. Prior to forming Peppertree, he was a partner with Tregan Partners where he focused on telecommunications and media. Previously, Howard was a co-founder of OmniAmerica, Inc., one of the first publicly-held tower companies. Prior to the formation of OmniAmerica, he spent more than ten years as a transactional attorney with Thompson Hine LLP, the latter years as a partner.

Howard earned his BS degree from The Ohio State University and his JD from Cornell Law School.

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John Ranieri

John Ranieri

Managing Director

John Ranieri

Managing Director 440.528.0166

John is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he served as Chief Financial Officer for each of Open Mobile (San Juan, Puerto Rico), Revol Wireless (Cleveland, OH), Affinity Internet (Fort Lauderdale, FL), and Redfern Broadband Networks (Sydney, Australia). John started his career in the Mergers & Acquisitions Department of Morgan Stanley.

John earned his BA degree at Dartmouth College and his MBA from The Wharton School of Business.

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Daniel Weiser

Daniel Weiser

Managing Director

Daniel Weiser

Managing Director 440.528.0337

Daniel is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he was an investment professional at Magnetar Capital. Previously, Daniel worked in investment banking with Morgan Stanley.

Daniel earned his BSE in Industrial and Operations Engineering and MS in Financial Engineering, both from the University of Michigan.

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Arnoud Krijt

Arnoud Krijt

Managing Director

Arnoud Krijt

Managing Director 440.528.0341

Arnoud is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he served as Senior Vice President, Corporate Development for Uniti Group. Previously, Arnoud worked in business development and finance with Softcard (a joint venture between AT&T, Verizon, and T-Mobile) and started his career in investment banking with Stephens Inc.

Arnoud earned his BS degree from McNeese State University and his MSF from Louisiana State University.

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John (Jack) Gillette III

John (Jack) Gillette III

Principal

John (Jack) Gillette III

Principal 440.528.0320

Jack joined Peppertree Capital Management, Inc. in 2012 after graduating from The Dyson School of Applied Economics and Management at Cornell University. After earning his MBA from The Kellogg School of Management at Northwestern University, Jack returned to Peppertree as a Vice President.

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Sean M. Lojek

Sean M. Lojek

Principal

Sean M. Lojek

Principal 440.528.0290

Sean joined Peppertree Capital Management, Inc. in 2013. Previously, he was a Business Technology Analyst with Deloitte Consulting.

Sean earned his BS degree from Case Western Reserve University in Management with a Concentration in Finance.

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Mark Tupa

Mark Tupa

Assistant General Counsel

Mark Tupa

Assistant General Counsel 440.528.0169

Mark is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, Mark was an attorney at Jones Day and Calfee, Halter & Griswold where he focused his practice on private equity, mergers and acquisitions, corporate restructurings and other strategic transactions.

Mark received his BBA degree in Accounting from the University of Notre Dame and his JD from The Ohio State University.

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Caroline Moore

Caroline Moore

Associate

Caroline Moore

Associate (440) 528-0172

Caroline joined Peppertree Capital Management, Inc. in 2018 as an Analyst after graduating from Washington University in St. Louis with a BA in Economics and Spanish.

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Tom Brzozowski

Tom Brzozowski

Associate

Tom Brzozowski

Associate 440.528.0345

Tom joined Peppertree Capital Management, Inc. in 2021 as a Senior Analyst. Prior to joining Peppertree, he was an investment professional at Zimmer Partners. Previously, Tom worked in investment banking with Lazard.

Tom earned his BS in Finance and Operations Information Management from Georgetown University.

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Danny Abramowitz

Danny Abramowitz

Associate

Danny Abramowitz

Associate 440.528.0162

Danny joined Peppertree Capital Management, Inc. in 2021 as a Senior Analyst. Prior to joining Peppertree, he worked at Keybanc Capital Markets in the Utilities, Power & Renewable Energy group.

Danny earned his BA in Mathematics and Finance from Yeshiva University.

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Grant Bumbu

Grant Bumbu

Senior Analyst

Grant Bumbu

Senior Analyst (440) 528-0289

Grant joined Peppertree Capital Management, Inc. in 2020 as an Analyst after graduating from The Ohio State University with a BA in Finance and a minor in Real Estate.

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Ryan Alexander

Ryan Alexander

Senior Analyst

Ryan Alexander

Senior Analyst 440.528.0332

Ryan joined Peppertree Capital Management, Inc. in 2021 as an Analyst after graduating from Case Western Reserve University with a BA in Economics and MS in Finance.

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Tyler Markowitz

Tyler Markowitz

Analyst

Tyler Markowitz

Analyst 440.528.0159

Tyler joined Peppertree Capital Management, Inc. in 2023 as an Analyst after graduating from Indiana University with a BS in Finance and a Co-Major in Business Analytics.

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Firm Operations

Cynthia L. Debevec

Cynthia L. Debevec

COO & CCO

Cynthia L. Debevec

COO & CCO 440.528.0338

Cyndi joined Peppertree Capital Management, Inc. in 2010 and is the firm’s Chief Operating Officer and Chief Compliance Officer. Prior to joining Peppertree, Cyndi served for eight years as Chief Financial Administrator for the Ohio and Vicinity Regional Council of Carpenters. Prior thereto, she spent more than 10 years with Deloitte & Touche LLP where she rose to the level of Senior Manager, Assurance and Advisory Services.

Cyndi holds an MBA from Lake Erie College and a BA in Accounting from Notre Dame College. She was awarded the Certified Public Accounting designation in 1993 and currently holds a CPA license issued by the Accountancy Board of Ohio. Cyndi is a member of the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants.

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Joe Sass

Joe Sass

CFO

Joe Sass

CFO 440.528.0174

Joe joined Peppertree Capital Management, Inc. in 2023 as Chief Financial Officer. Prior to joining Peppertree, Joe spent over 6 years at The Riverside Company, most recently as an Associate Director, Finance. He began his career at EY, specializing in the Banking and Capital Markets assurance practice (EY FSO BCM).

Joe earned his BS in Accounting from Miami University and his MS in Accounting from The University of Akron. He currently holds a CPA license issued by the Accountancy Board of Ohio.

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Abigail Tovbin

Abigail Tovbin

Controller

Abigail Tovbin

Controller 440.528.0167

Abigail joined Peppertree Capital Management, Inc. as a Controller in 2021. Prior to joining Peppertree, Abigail worked as a Fund Controller at The Townsend Group. Previously, Abigail worked at Ernst & Young, specializing in the Wealth and Asset Management assurance sector (EY FSO WAM).

Abigail earned her BS in Accounting from Touro College in 2018. She earned the Certified Public Accountant designation in 2019 and currently holds an active CPA license issued by the Accountancy Board of Ohio. Abigail is a member of the American Institute of Certified Public Accountants (AICPA).

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Nicole McManamon

Nicole McManamon

Assistant Controller

Nicole McManamon

Assistant Controller 440.528.0292

Nicole joined Peppertree Capital Management, Inc. as an Assistant Controller in 2023. Prior to joining Peppertree, Nicole worked as a Senior Tax Accountant at Cohen & Company.

Nicole earned her BS in Accounting and MBA from John Carroll University. She earned the Certified Public Accountant designation in 2020 and actively holds a CPA license issued by the Accountancy Board of Ohio. Nicole is a member of the American Institute of Certified Public Accountants (AICPA) and the Ohio Society of Certified Public Accountants.

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Pamela J. Prentice

Pamela J. Prentice

Office Manager

Pamela J. Prentice

Office Manager 440.528.0288

Pam has been Office Manager of Peppertree Capital Management, Inc. since 2007.

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Portfolio Company Operations

Janet K. McGee

Janet K. McGee

Senior Controller – Portfolio Companies

Janet K. McGee

Senior Controller – Portfolio Companies 440.528.0176

Janet joined Peppertree Capital Management, Inc. in 2014. Prior to joining Peppertree, Janet spent five years as a Business Unit Controller at Avery Dennison and 12 years with Rockwell Automation. She began her career with Deloitte & Touche.

Janet earned her BS degree in Accounting from Duquesne University in Pittsburgh in 1988. She earned the Certified Public Accountant designation in 1991 and currently holds an active CPA license.

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Audrey Jackson

Audrey Jackson

Senior Controller – Portfolio Companies

Audrey Jackson

Senior Controller – Portfolio Companies 440.528.0325

Audrey joined Peppertree Capital Management, Inc. 2016. Prior to joining Peppertree, Audrey spent five years as the Controller at Joseph Industries Inc. and six years with FFR-DSI, Inc.

Audrey earned her BS in Accounting from Georgetown College in 1990. She earned the Certified Public Accountant designation in 2009 and currently holds an active CPA license. Audrey is a member of the Ohio Society of Certified Public Accountants.

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Ben Cullen

Ben Cullen

Controller

Ben Cullen

Controller 440.528.0285

Ben joined Peppertree Capital Management, Inc. 2020. Prior to joining Peppertree, Ben worked as a Senior Accountant at both Sotera Health LLC and Applied Industrial Technologies.

Ben earned his BS in Accounting from Cleveland State University in 2013. He earned the Certified Public Accounting designation in 2015 and currently holds an active CPA license issued by the Accountancy Board of Ohio.

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Cheryl Lewis

Cheryl Lewis

Controller

Cheryl Lewis

Controller 440.528.0339

Cheryl joined Peppertree Capital Management, Inc. as a Controller in 2023. Prior to joining Peppertree, Cheryl worked at Parker Hannifin Corporation for 22 years as Financial Team Leader.

Cheryl earned her BS in Accounting from John Carroll University and her MBA from Baldwin Wallace College.

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Chong Kim

Chong Kim

Assistant Controller

Chong Kim

Assistant Controller 440.528.0326

Chong joined Peppertree Capital Management, Inc. as an Assistant Controller in 2021. Prior to joining Peppertree, Chong worked as a Manager of Financial Services-Disbursement at Carlisle Brake & Friction.

Chong earned his BS in Accounting from Kansas State University and currently holds an active CPA license issued by the Accountancy Board of Wisconsin.

Chong earned the Chartered Global Management Accountant designation in 2012 and is a member of the American Institute of Certified Public Accountants and the Wisconsin Institute of Certified Public Accountants.

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Michael Cercek

Michael Cercek

Assistant Controller

Michael Cercek

Assistant Controller 440.528.0160

Michael joined Peppertree Capital Management, Inc. as an Assistant Controller in 2022. Prior to joining Peppertree, Michael worked as a Plant Controller for PolyOne and as a Senior Financial/Cost Analyst for Avery Dennison/CCL Industries.

Michael earned his BS in Finance from Miami University.

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Diane S. Leung

Diane S. Leung

General Counsel

Diane S. Leung

General Counsel 440.528.0336

Diane is General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she was a transactional attorney for more than 20 years at Thompson Hine LLP and focused her practice on the financing and acquisition of telecommunication and real estate assets.

Diane received her BA degree from the College of Wooster, her MLS from Kent State University, and her JD from Cleveland Marshall College of Law.

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Scott Ruebensaal

Scott Ruebensaal

Assistant General Counsel

Scott Ruebensaal

Assistant General Counsel 440.528.0323

Scott is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, he was an Associate in the real estate group at Jones Day where he focused his practice on acquisitions and dispositions of industrial, office, and retail projects, financing and refinancing of real estate assets, and commercial leasing and subleasing.

Scott received his BA and JD degrees from Cleveland State University.

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Sydney Benson

Sydney Benson

Assistant General Counsel

Sydney Benson

Assistant General Counsel 440.528.0170

Sydney is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she was an Associate at Walter Haverfield where she focused her practice on transactions related to the development and redevelopment of commercial properties, financing and refinancing of real estate assets and commercial leasing and subleasing.

Sydney received her BA from SUNY Fredonia and her JD from Case Western Reserve University School of Law.

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Aileen Sexton

Aileen Sexton

Assistant General Counsel

Aileen Sexton

Assistant General Counsel 440.528.0324

Aileen is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she practiced law for over 20 years in both private practice and as in-house counsel, focusing on commercial real estate, telecommunication infrastructure, corporate matters and low income housing tax credit (LIHTC) syndication.

Aileen received her BA from John Carroll University and her JD from Case Western Reserve University School of Law.

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Katie Graham

Katie Graham

Accounts Receivable Specialist

Katie Graham

Accounts Receivable Specialist 440.528.0171

Katie joined Peppertree Capital Management, Inc. in 2022 as an Accounts Receivable Specialist.

Prior to joining Peppertree, Katie gained more than 18 years of accounts receivable experience as a billing clerk and as an office assistant.

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Ricky Marcus

Ricky Marcus

Operations Administrative Assistant

Ricky Marcus

Operations Administrative Assistant 440.528.0286

Ricky joined Peppertree Capital Management, Inc. in 2023 as an Operations Administrative Assistant. Prior to joining Peppertree, Ricky held multiple positions with Case Western Reserve University and Kent State University focused on student advancement and engagement.

Ricky earned his M.Ed from Kent State University and BA from Indiana University.

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Midwestern
values,
global reach.

Contact Us

57 E. Washington Street
Chagrin Falls, Ohio 44022

Phone: 440.528.0333
Fax: 440.528.0334

Email: info@peppertreecapital.com

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