Gary Klesch | $1B+
Get in touch with Gary Klesch | Gary Klesch, founder and chairman of the Klesch Group, is a veteran industrialist known for acquiring and restructuring distressed industrial and commodity businesses across Europe. Since launching his firm in 1990, he has built a portfolio spanning chemicals, metals, refining, and energy, often stepping into complex turnaround situations that larger corporations avoid. With a reputation for decisive management, deep operational expertise, and a contrarian investment approach, Klesch has transformed underperforming assets into competitive enterprises while establishing the Klesch Group as a major player in European heavy industry.
A. Gary Klesch (born 1947) is an Anglo-American entrepreneur, who in 1990 founded the Klesch Group, a global industrial company, based in Geneva, Switzerland, which he owns and chairs.[1][2] The Klesch Group of companies has interests in metals, mining, oil and gas, power generation, chemicals and other traditional "heavy" industries. Klesch specializes in principal investing in companies that are operating below their full potential.[3]
Early life
Klesch was born in Cleveland, Ohio in 1947 and educated by Jesuits. He graduated from John Carroll University in 1968 with a B.A. in Political Science.[4]
Career
In 1969, aged 22, Klesch joined McDonald & Company,[5] then one of the largest regional investment banking firms, based in Cleveland, Ohio, as an associate. Two years later, aged 24, Klesch was made McDonald & Company's youngest-ever Partner.[6]
Klesch then came to the attention of Bill Simon, who had just been appointed Secretary of the Treasury under President Gerald Ford, and in 1975, aged 28, he was appointed Director of Capital Markets Policy.[4] In this role he contributed to the development of a new model of financial regulation. Klesch's responsibilities included developing the legislation that set in motion the deregulation of the securities and financial services industries in the United States. Whilst at the Treasury Department, Klesch also served as the Ford Administration's representative in negotiations leading to US Government loans and guarantees to various financially troubled entities, including Lockheed and New York City. He also served as the US Government's representative on the Board of the United States Railway Association, where he played a role in the negotiation and reorganization of troubled railroad companies, most notably the Penn Central Corporation.[7] Additionally, he was responsible for finding private finance for the space shuttle.[8]
In 1978, after two and half years in Washington, Klesch took a sabbatical and then joined the management of Smith Barney Harris Upham & International Smith Barney Harris Upham & Company, Inc. | Better Business Bureau Profile, the Wall Street securities house, in Paris. He was the Director responsible for Middle East development.
In 1980, he was appointed President of the brokerage firm Dean Witter Reynolds Overseas Ltd.[9] in London, where he was responsible for the firms' international activities. Two years later Klesch left to create his own investment company.[10]
Quadrex
In 1983, Klesch set up[11] Quadrex, which started in the Euromarkets but soon moved into acquisition finance, leverage buyouts and restructurings.[12] The firm had operations in both London and New York. Quadrex Holdings first subsidiary, Quadrex Securities Ltd. specialized in international financial transactions.[13]
Klesch Group
In 1990, Klesch founded Klesch & Company Limited to specialize in distressed and turnaround investing.[14] Klesch & Co today invests in industrial businesses and refines, markets and sells petroleum products and financial derivates.[15] It employs 1,000 people across 6 locations in 4 countries. In 2023, the Group had turnover of €8.5 billion.[16]
Corporate activity
1993: acquisition of DAF Dutch truck manufacturer[17]
1996: acquisition of TC Farries, Scottish bookseller[18]
1998: acquisition of Knickerbox, a British lingerie chain, and of Myrys, a French shoemaker[18]
2009: acquisition of Delfzijl steelworks in Netherlands[19] and of Heide refinery in Germany (from Shell) [20]
July 2012: acquisition of Kem One, vinyls activities of the French Arkema Group[21]
February 2013: acquisition of Groupe Leali,[22] an Italian steel producer[23]
January 2022: acquisition of Kalundborg Refinery and its terminal located in Hedehusene in Denmark (from Equinor)[24]
Criticism
Klesch has been described in the media as a “vulture capitalist” due to a history of investing in struggling businesses and slashing costs. [25]
The events involving Klesch and Arkema were later referenced by employees at a steel factory in Sardinia owned by Alcoa as they protested against reports that Klesch & Co were exploring a possible takeover.
Disclaimer: This profile is based on publicly available information. No endorsement or affiliation is implied.
Join UHNWI direct Affiliate Program
Earn Passive Income by Sharing Verified Contact Information of Billionaires, Centi-Millionaires, and Multi-Millionaires on the UHNWI Direct Platform
Maximize your earnings potential by sharing direct and validated contact information of the ultra-wealthy, including billionaires, centi-millionaires, and multi-millionaires. Join the UHNWI Direct platform and tap into a lucrative passive income stream by providing valuable data to those seeking high-net-worth connections. Start earning today with UHNWI Direct.
You may also be interested in reviewing other UHNWIs profiles.
To find the person you want to contact, start typing their name or other relevant tags in the search bar.
Please note: Our database contains over 10,000 direct contacts of UHNWIs, and it is highly likely that the individual you are seeking is already included. However, creating individual profiles for each contact is a meticulous and time-intensive process, So, if you are unable to find the profile of the individual you are looking for, please click here.
Filter by Net Worth: All | Billionaires | Centi-Millionaires | Multi-Millionaires
Filter by Location: All | USA | Canada | Europe | UK | Russia & CIS | Asia | MEIA | Australia | Latin America
Filter by Age: 1920-1930 | 1930-1940 | 1940-1950 | 1950-1960 | 1960-1970 | 1970-1980 | 1980-1990 | 1990-2000
Related People
UHNWI direct
