Pritzker Group Private Capital today announced that Redbox founder and former CEO and former Coinstar President and COO Gregg Kaplan has joined the firm as its operating partner for the services team.
Kaplan will be based in Chicago, where he and investment partner David Rosen will lead the services investment and operations team. Rosen and Kaplan will source, invest in and oversee a group of services companies for Pritzker Group Private Capital. Pritzker Group Private Capital’s services companies today include PECO Pallet and Entertainment Cruises.
Kaplan, 45, has spent his career building and operating high-growth businesses. Kaplan founded Redbox, the ubiquitous movie-rental kiosk network, when it was an incubation project within McDonald’s Corporation. He grew the company from its earliest stages, bringing it to more than 20,000 kiosks, nearly $800 million in revenue and over $100 million in EBITDA in its first seven years.
After selling Redbox to Coinstar Inc. in 2009, Kaplan continued as president and chief operating officer of Coinstar Inc. until 2013. During this time, he oversaw the Redbox and Coinstar lines of business, which grew from $1 billion to $2.2 billion during his tenure. He also spearheaded all new growth strategy initiatives and ventures for the companies.
Previously, Kaplan was senior director of corporate strategy and business development for McDonald’s Corporation. He also has several years of experience in venture capital and investment banking, and was an early employee of two startup companies. Kaplan was named by Crain’s Chicago Business as one of the city’s top “40 Under 40” in 2009.
Since early 2013, Kaplan has been an active investor, co-founding Modjule LLC, a private investment firm focused on multi-unit retail businesses,and has joined several corporate and civic boards including Chicagoland Entrepreneurial Center (1871), Enova, In Context Solutions and Network for Teaching Entrepreneurship in Chicago.
“We are thrilled to welcome Gregg, a successful, seasoned executive, to the team,” said Paul Carbone, Pritzker Group Private Capital managing partner. “With exceptional entrepreneurial, innovation and growth experience, Gregg brings an exciting dimension to Pritzker Group Private Capital. As someone who helped build a multi-billion-dollar company from scratch, he’s sure to bring a wealth of ideas and expertise to our services team and companies.”
Kaplan holds a bachelor’s degree from the University of Michigan and a master’s degree from Harvard University’s Graduate School of Business Administration.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and health care sectors. The firm’s permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value.
Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies.