Statement on Steelers Three New Partners in Ownership Transition
At a league meeting today in Dana Point, Calif., the NFL's 32 clubs approved three more partners to join the Steelers ownership group.
Bruce V. Rauner, Chairman of GTCR Golder Rauner, LLC, Hall of Famer and former Steelers player John Stallworth, President and CEO of Genesis II, and the Varischetti family were approved at today's meeting (bios of each partner attached).
Rauner, Stallworth and the Varischetti family join James Haslam III, the Paul family and Thomas Tull as new partners with Dan and Art II to help maintain the Rooney family ownership of the Steelers.
The agreement among the Rooney family for closing the transaction was originally set to take place before March 31, 2009, but with the possible addition of new investors the closing will be postponed until May, 2009.
Bruce V. Rauner
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- *53 years old; based in Chicago, Illinois
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- *Chairman of GTCR Golder Rauner, LLC, a venture capital and private equity firm.
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- *GTCR forms and finances companies in partnership with outstanding executives whose goal is to build market-leading businesses over time through strategic acquisitions as well as through disciplined internal growth.
- Member of the board of directors for a number of public and privately held companies nationally and serves on the boards of civic and philanthropic organizations around Chicago, including the Renaissance Schools Fund.
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- *Provided major funding for the construction of the Rauner Special Collections Library at Dartmouth College and has endowed and funded programs at Dartmouth College, Morehouse College, University of Chicago, Harvard Business School and University of Illinois.
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- *Works with the Nature Conservancy and Montana Land Reliance to preserve ranch land and wildlife habitat in Montana and received the Murie-Broome Award from The Wilderness Society for outstanding work in wilderness preservation.
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- *Chicago native who received a B.A. degree in economics, summa cum laude and Phi Beta Kappa from Dartmouth College and an M.B.A. from Harvard University.
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*John Stallworth
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- *56 years old; based in Huntsville, Alabama
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- *Played 14 seasons with the Pittsburgh Steelers and was a member of four Super Bowl championship teams. He earned four trips to the Pro Bowl and was inducted into the Pro Football Hall of Fame in 2002.
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- *Current partner at Genesis II, a family business office created in 2006 to enhance the partner's philanthropic support efforts, investments and related business interests.
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- *Serves as Chairman, Board of Directors for the John Stallworth Foundation, a non-profit organization he founded in 1984 to provide scholarships to students attending his alma mater, Alabama A&M University.
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- *Served as President and CEO of Madison Research Corporation (MRC) before selling the company and retiring in 2006. MRC is a technology and government contracting corporation in Huntsville, Ala., with operations in South Carolina, Georgia, Texas, Florida, Tennessee and Washington D.C.
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- *Earned his B.S. in Business Administration (Management) and his M.B.A. in Business Administration (Finance) from Alabama A&M University.
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- *Serves on the Board of Directors for many organizations, including Crestwood Medical Center, First Commercial Bank, Big Spring Partners, Alabama Sports Hall of Fame and the Huntsville Botanical Garden Foundation.
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- *Married (Flo) with two children (John, Jr. and Natasha) and four grandchildren (John III, Jacob, Julia and Taylor).
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*Varischetti Family
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- *Operations headquartered in Brockway, Pa.
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- *Family has substantial involvement in many businesses, including Guardian Elder Care Holdings, Inc.; Varischetti & Sons, Inc.; Phoenix Sintered Metals, Inc.; and Apple Tractor, Inc.
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- *All companies combined have over 2,000 employees.
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- *Family very active in community projects through the Frank Varischetti Foundation, which primarily serves the Brockway and DuBois areas.
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- *Guardian Elder Care Holdings, Inc. has 23 nursing facilities, including 20 in Pennsylvania, two in Ohio and one in West Virginia. The company was originated in 1995. Guardian also owns a long-term care pharmacy, a rehabilitation services company and a home health care company.
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- *Varischetti & Sons, Inc. owns and manages commercial real estate in Pennsylvania and New York and provides consultation services to the waste industry. The company's interest also includes VSI Racing, which competes on the Nationwide Series.
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- *Phoenix Sintered Metals, Inc. is a manufacturer of powder metal parts serving many different industries, including Outdoor Power Equipment, Sporting Goods, Hydraulic/Fluid Power, Automotive, Recreational Vehicles, Food Service and Medical. The company is a consolidation of assets from four local manufacturing plants in one central location in Brockway.
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- *Apple Tractor, Inc. is a major supplier of quality machinery for the construction and mining industries, selling, renting and buying new and used equipment such as tractors, excavators, wheel loaders, crawler loaders, backhoes, articulated trucks and hydraulic hammers.
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- *The Varischetti business history dates back to the 1960's when the late Frank Varischetti built Varischetti Sanitation into one of the largest independently owned sanitation companies in Pennsylvania.
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