Mr. Steiner founded Webster Capital in 2003 and leads Webster's consumer investment practice.
Mr. Steiner brings over thirty years of business experience to Webster Capital. Prior to forming Webster Capital, Mr. Steiner spent eight years as founder and Executive Officer of Cornerstone Brands, ten years in the private equity business as a General Partner and Co-Founder of Boston Capital Ventures and ten years at The Gillette Company in brand management, marketing, and new business development.
In his role as private equity investor and as a founder and operating executive, Mr. Steiner has worked with over 50 companies to help them build value and solidify and differentiate their respective brands. Mr. Steiner has deep experience in sourcing and structuring private equity transactions both on a direct basis and through a broad network of referral sources during his career as an operator and investor. Many of the CEOs, private equity managing partners and leaders of financial institutional with whom Mr. Steiner has worked in the past have invested in Webster Capital as Limited Partners. These LPs are a valuable resource for the Fund and for our companies.
Prior to forming Webster Capital, he conceptualized and founded Cornerstone Brands. He raised $70 million in equity financing, identified and recruited the senior management team, developed and implemented the business plan and completed six acquisitions of growing catalog companies. Cornerstone Brands’ family of catalog/internet companies includes: Frontgate, Ballard Designs, Garnet Hill, Smith and Noble, The Territory Ahead and TravelSmith Outfitters. In 2005 Cornerstone Brands was sold to IAC Interactive Corporation/Home Shopping Network for $750 million.
Mr. Steiner co-founded Boston Capital Ventures ("BCV") in 1983. BCV raised approximately $130 million over the next ten years and invested in a wide range of companies including business services, technology and healthcare. Several of these companies, including Nextel Communications, Bright Horizons Childcare Centers, and Parexel Clinical Trials Management, followed a core company buy and build strategy which Mr. Steiner subsequently applied at Cornerstone Brands.
Prior to forming Boston Capital Ventures, Mr. Steiner spent ten years with the Gillette Company where he served as a Group Product Manager with the Personal Care Products Division, helped launch The Gillette Appliance Division and then helped form the corporate New Business Development group. Acquisitions were made to develop new markets in oral hygiene, skin care, stationery products, vision care, beauty spas, plant care and vitamins. Subsequent acquisitions included Oral B, Duracell Batteries and Waterman Pens.
Mr. Steiner is a Director of Mondetta, RIO Brands, Dover Saddlery, Lifestyle Brands and Matilda Jane. He is also an overseer for Boys and Girls Clubs of Greater Boston and on the Leadership Council of Horizons for Homeless Children.
Don Steiner was educated at Rutgers University and Harvard Business School.