CCMP Capital has reported the passing away of the former President and CEO Steve Murray. Murray, who left the firm barely a month to his death sited health related problems as the main reason for his resignation.
Murray passed on at the age of 52. He was a long term employee of CCMP Capital; having joined predecessor firms that bore CCMP in 1989. CEO Stephen Murray CCMP Capital‘s career has been extraordinary, the firm that was at one time known as Chase Capital was purchased by JP Morgan partners. The Group sought independence in 2006, and in 2007 Murray was appointed CEO, succeeding group founder Jeff Walker.
CCMP Capital through its chairman Greg Brenneman spoke on behalf of the company. He spoke of immense grief that had come to them upon the passing of a longtime friend and partner Steve. He passed his condolences, thoughts and prayers to the family of Steve. The company passed on their gratitude for the diligent service accorded to them by Steve who was a co founder of CCMP Capital. Steve by his very nature was an exemplified individual with a wonderful character which he used to close deals. CCMP Capital’s success is widely attributed to the efforts of Steve who spent most of his career in private equity.
Stephen P. Murray CCMP Capital was born on August2,1962; he was raised in New York City Suburb Westchester County, he graduated from Boston College in 1984 with a Degree in Economics. He also graduated with a master’s degree in Business Administration from the Columbia Business School.
Upon completing his under graduate degree Steve joined the credit analyst training program at Manufacturers Hannover Corporation. In 1989 there was a merger between MH Equity Corporation which combined Manufacturers Hannover’s Private Equity Group with its finance Unit. The company later became CCMP Capital in 2006.
CCMP Capital a company founded by Steve has a reputation of investing $100million-$500million of equity per transaction. The company has since its inception focused their investments on consumer, industrial, health care and the energy sectors.
Murray was all about giving back to the society, this is evidenced by the financial support given to the Make-a-wish Foundation of Metro New York, the Food Bank of Lower Fair Field County and the Stamford Museum.
The Death of Murray as reported by NY Post has hit CCMP Capital at its core. This is because Murray was not only a vibrant individual but also a key player in all the dealings of the company which invests highly in equities. Since Joining the company which has rebranded over time, Steve Murray was a focal point in the company and has inspired immense growth.
Replacing Murray will not be easy with the company setting sights on making a comeback through the new chairman and CEO Greg Brenneman.