Wellspring Capital Management LLC, a New York private-equity firm, announced Tuesday that it has hired John E. Morningstar as a principal and William E. Ramsey as an executive director.
Mr. Morningstar, the firm's third principal, will oversee senior-level activities involving the acquisition, monitoring, and sales of portfolio companies.
Previously, Mr. Morningstar was with Castle Harlan Inc. of New York, where he worked on a number of leveraged buyouts of consumer-related, packaging, and industrial companies. He also has worked in the investment banking department of Merrill Lynch & Co. Inc.
Mr. Ramsey, who will work with Wellspring's portfolio company management teams to improve operating performance, was a senior operations officer for Honeywell International Inc.
Wellspring manages more than $2 billion of equity capital.
