Capstone Partners Names 15-Year M&A Veteran Timothy Harned Managing Director.

Business Editors

BOSTON--(BUSINESS WIRE)--April 20, 2004

Investment Banking Specialist Joins Executive Team To Drive Capstone's Leadership and Growth of Middle Market M&A and Strategic Advisory Services 

Capstone Partners LLC, a national investment banking advisory firm that specializes in middle market merger and acquisition transactions, today announced that it has named Timothy Harned as Managing Director. Harned is a 15-year veteran of the capital markets and comes to Capstone with a broad portfolio of investment banking expertise including mergers and acquisitions, corporate development, private equity, leveraged finance and venture capital.

"Tim and I were together in the mergers and acquisitions group at Lehman Brothers in New York and I know what he is capable of. His track record in deal execution and capital markets savvy will add tremendous value to the firm's clients. He has worked for some of the best firms on Wall Street and has deep expertise across shareholder advisory engagements, buy- and sell-side transactions and capital raising assignments.," said John Ferrara. "Most critically, Tim is as dedicated as everyone on the Capstone team to bringing these world class capabilities to middle market business owners and solidifying our leadership in this area."

"I am thrilled to become part of Capstone's leadership team and am eager to help continue growing the firm into the leading Boston-based investment bank offering advisory and financing services to middle market companies and entrepreneurs," said Harned. "The middle market is clearly robust and poised for continued growth and I look forward to expanding Capstone's impressive global foothold in the marketplace."

Throughout his career, Harned has helped develop successful investment banking practices for leading national financial institutions including Morgan Stanley, Banc of America Securities and Lehman Brothers. From 2000-2002, Harned served as Executive Director for Morgan Stanley's Boston office, where he was responsible for developing corporate, venture capital and buyout relationships in New England with a focus on semiconductor devices and equipment, and communications equipment and software.

From 1996-2000, Harned served in senior capacities with Banc of America Securities, (formerly Montgomery Securities), most recently serving as co-head of the firm's Boston Technology Corporate Finance Office. During his tenure, he managed more than 25 strategic transactions aggregating over $6.0 billion in value. Harned began his career at Lehman Brothers where he spent five years in the firm's mergers and acquisitions group in New York primarily covering food and beverage, manufacturing, defense and distribution companies.

Educated in Scotland and India, Harned graduated with a bachelors degree in English from Kenyon College in Gambier, OH, and a masters degree in business administration from Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.

About Capstone

Capstone Partners LLC (www.capstonellc.com) is a national investment banking advisory firm dedicated to serving the strategic needs of middle market businesses. With offices in Boston and Silicon Valley, the firm maintains dedicated transactional and research resources in the technology, business services and specialty manufacturing industries.