Stephen Murray Leaves Behind A Great Legacy At CCMP

Steve Murray was the CEO of CCMP Capital, an investment firm that owns a large chain of retail, energy, healthcare, and other manufacturing and construction-based companies. The firm oversees mergers and acquisitions, leveraged buyouts, wealth management, and facilitating other large equity transactions. Read more: 5 Questions with Stephen Murray, CEO of CCMP Capital

Much of the success the company has had since their start in 2007 is owed to Steve Murray, a man who knew how to do business effectively and knew which kind of startup companies were good to invest in. CCMP’s name itself is a representation of Murray’s career, including in it all the banks that his company was a part of.

Stephen Murray was raised in Manhattan and got his degrees in economics from Boston College and Columbia University. He started out as a credit analyst for Manufacturers Hanover, the bank whose leveraged finance division would become the key player in big buyouts. Murray was so effective at his job that he became an executive in a fairly short period, and the bank started managing client funds totalling in the millions.

Manufacturers Hanover would merge with Chemical Partners Bank, become bought out by Chase, until finally JP Morgan took over the entire operation. Murray grew JP Morgan’s empire with his buyout deals, and the company now had some surging startup companies that lined its portfolio.

When some of JP Morgan’s clients grew unhappy about being outbid on buyouts, the leveraged finance unit broke off and became its own company, CCMP. Some of the companies in CCMP’s portfolio include Quizno’s Subs, Pure Gym, CareMore Medical Enterprises, and Latigo Petroleum. Learn more about Steve Murray:

Murray was also a philanthropist who loved museums, was active in social causes, and donated to many of New York’s charities. In late 2014, Murray had to resign from CCMP due to health concerns, and died in March of 2015. He was a well-liked and respected man and the new CEO Greg Brenneman will look to follow in Murray’s footsteps.