Pennsylvania Growth Fund
PGF makes investments only in business have established management and where the principals have relevant
business and management experience. PGF adds value by taking an active strategic and management role.
3 Rivers Capital Partners
3 Rivers Capital Partners invests in promising entrepreneurs pursuing established industries and stable markets.
Ed Anderson
In 1969, Ed founded M & A Supply Company (www.masupplycompany.com) as a middle-Tennessee focused
manufacturer and distributor of heating and air-conditioning supplies, sheet metal, and rain-carrying products. He
grew the company to the exclusive distributor of American Standard equipment and parts for Tennessee,
Arkansas, Alabama, and Mississippi serving its customers from twelve locations. M & A is a family owned business.
He lives in Dickson, TN and is active in the daily operations of M & A.
Yves Carreau
Yves is the owner and chef of Sonoma Grille (www.sonoma-grillle.com). Yves Carreau was born and raised in Lyon
France and graduated from the Thonon Les Bains Culinary Institute in 1978. After apprenticing in the French West
Indies for two years, he moved to Los Angeles where he worked at the famed La Serre restaurant in Studio City.
In 1984, he moved to Pittsburgh and managed the kitchen at Churchill Valley Country Club. In 1998, he opened
Asiago a French and Italian restaurant and in 2004, he opened Sonoma Grille. Yves lives in Pittsburgh and
operates both Sonoma Grille and Asiago.
Eric Close
Eric's bio can be found in the Advisor section.
David D'Appolonia
Dave began his career as a researcher and professor of civil engineering at the Massachusetts Institute of
Technology. Four years later he founded Engineered Construction, Inc., a specialty contracting company. He
grew the business into a multi-faceted engineering firm that was sold to a public company. He remained as a
senior executive for several years. Afterwards, he joined PDGE as president and vice chairman and helped the
company became a leading asbestos abatement contractor and a NASDAQ listed company. Dave lead a PDGE spin
out that went through the IPO process in 1995. He also completed the leveraged buyout and successful sale of
White Knight Healthcare, Inc. Dave is a managing partner of Saturn Asset Management, a private investment
banking firm and a partner of Seneca Capital, Inc., a private merchant banking firm. He has a B.S. from Carnegie
Mellon University and a Ph.D. Massachusetts Institute of Technology.
Chris Farls
Chris' bio can be found in the Advisor section.
Karl Krieger
Karl graduated from Yale University and joined the U.S. Navy as an Engineering Officer on a destroyer escort.
After leaving the Navy, he became president of Pittsburgh Carbon Corporation. Over the next 40 years, Karl grew
the company from a small manufacturer of steel mill maintenance items to a diversified manufacturer and holding
company with multiple operations in multiple markets. He sold a portion of the business to a German joint venture
partner, Karl remains active as the Chairman for portions of the business. Karl is an active participant in small
business advocacy. He has served on the board of SMC, National Small Business Untied, Research Institue for
Small and Emerging Business, and Pennsylvania Foundrymen's Association. Additionally, he participated in the
1986 White House Conference on Small Business.
Matt Levy
Matt is the Global Marketing Manager for Applied BioSystems (www.appliedbiosystems.com) which provides
services and equipment to research organizations. Applied Biosystems is traded under the symbol ABI. Prior to
joining Applied BisSystems, Matt worked at IBM in a sales capacity catering to the medical market. Matt is a
graduate of Carnegie Mellon's M.B.A. program. Matt met the Principals through the University's alumni network.
Matt lives in the San Francisco Bay area.
Barry Lhormer
Barry graduated from the University of Pennsylvania, Wharton Business School in 1956. He began his career in
residential land and housing development with Lhormer Real Estate. In 1962, he founded Busy Beaver Building
Centers. He sold 80% of the company to Cyclops Steel ten years later. He remained as President of Busy Beaver
for another decade until he sold his remaining interest. He then began a successful career completing executive
buy outs. He purchased a supply and furniture retailer, ran the business for two years, doubled the revenue, and
sold the company. He immediately bought a sporting goods distributor that the operated for six years before
selling to the industry's largest distributor. He is currently active in commercial and residential real estate
development.
Daniel Lynch
Dan is one of the founding partners at Lynch Weis, LLC (www.lynchweis.com). Prior to starting his own firm, Dan
had an eclectic and entrepreneurial career. After graduating law school, Dan completed two clerkships for the
Honorable James H. Brickley, Justice of the Michigan Supreme Court and for the Honorable Carol Los Mansmann of
the United States Court of Appeals for the Third Circuit. Dan then joined Reed Smith, LLP, a 700 person law firm,
where he focused his practice on complex commercial litigation. After six years, Dan left the traditional legal
career by becoming the CEO of 3e Soft, Inc., a start up company that provided software to the e-marketplaces.
Dan then joined as the Vice President and General Counsel for Quadrivius, Inc., a middle market company involved
in third-party logistics. Dan has a B.A. in mathematics from St. Vincent College and a J.D. from the University of
Detroit.
Hal Mendlowitz
Soon after graduating from the University of Pittsburgh, Hal started a home furnishing store. He spent the next
several years in the furniture industry running operations for department stores. In 1978, Hal joined Pennex
Products Company, Inc., a manufacturer and distributor of private label over the counter pharmaceutical and
health and beauty aids. Ten years later, he was instrumental in the sale of the business to a publicly held Dutch
company. He remained in the company as an officer and consultant. He is involved in numerous business and
civic activities. He is an investor and/or advisor to Urban Redevelopment Authority of Pittsburgh, Street Wear,
and SOK Beverage Services, Inc. Hal is also active on several organizations concerning he aging in Western
Pennsylvania.
Patrick Mercier
Patrick is the owner of several European and American businesses operating in various fields such as construction,
land development, real estate, restaurants, insurance, software, electronics and manufacturing. Patrick was born
and raised in Brussels but left his country in 1987 after graduating from Louvain-La-Neuve with degrees in Business,
Management, and Engineering. He founded the American subsidiary for B.E.A to design, manufacture, and sell
detection systems for automatic doors. Responsible for developing the American continent, he captured 90%
market share after 18 years of hard work. His two claims to fame: His company was elected, in 1995, to be
among the 500 fastest growing companies in the USA (#190 Inc. Magazine ); And he became Entrepreneur of the
Year 2000 in the High Technology sector in Western Pennsylvania (Ernst & Young).
Scott Wolford
Scott, a Pittsburgh native, is a Managing Partner of Signature Partners (www.signature4.com,
www.fortyninedegrees.com, www.gmcicorp.com), an Ohio and China based group of companies which design and
manufacture industrial and commercial components for the appliance, hardware, industrial controls, machine
castings, emergency vehicle, environmental graphic and point of purchase markets. Prior to joining Signature
Partners, Scott spent seven years as the Executive Vice President and Manager of Global Operations for BEA
Incorporated a European based sensor technology manufacturer with operating sites in Liege Belgium, Beijing
China, and Pittsburgh. Before joining BEA, Scott spent seven years as the Director of Operations for an Industrial
Glass Division of Newell Rubbermaid. In 2001, as its President and CEO, Scott founded JLP Logistix, Inc, a logistic
sourcing and consulting company.
Ned Collins and David Harel
Both Principals are investors in the fund. Their bios can be found in the Principals Section.