Leadership transitions reveal institutional priorities. Promotion decisions indicate which capabilities organizations value, which sectors receive emphasis, and how succession planning progresses. When Waud Capital Partners elevated Tim Cremieux, Kyle Lattner, and Paul Sutphin to partner in January 2025, alongside Mike Lehman’s promotion to principal, the moves reflected sector expertise accumulated over multi-year tenures.
The promoted executives joined the firm between 2013 and 2021, spending 4 to 12 years learning Waud Capital Partners’ investment approach before ascending to partner level. This extended apprenticeship model contrasts with firms hiring senior professionals laterally or promoting associates on compressed timelines.
Healthcare Group Elevations
Two of the three partner promotions occurred within the healthcare investment team. Kyle Lattner joined Waud Capital Partners in 2013 and helped lead recent investments in Senior Helpers and Mopec Group. He also supports Ivy Rehab, a physical therapy clinic network where Waud Capital has maintained investment through a continuation fund structure, and APDerm, a dermatology practice management platform.
Lattner’s focus areas include medical device and supply chain services, home care, multi-site providers, and behavioral health—core sectors where Waud Capital Partners has deployed capital repeatedly. His promotion to partner coincided with the January 2025 closing of the Mopec Group acquisition, a pathology equipment manufacturer where he commented on the firm’s Medical Device & Supply Services campaign.
Tim Cremieux joined in 2017 and led the PharmAlliance platform investment. His portfolio responsibilities include Apotheco pharmacy services, PromptCare home infusion, and Provider Network Holdings. Cremieux actively works on investments across pharma services, payor services, medication supply chain, and wellness sectors—areas showing healthcare’s shift toward specialty pharmaceuticals and alternate site care delivery.
Mike Lehman’s promotion to principal positions him for future partner consideration. He supports Ivy Rehab, Unifeye Vision Partners, and Mopec Group. Lehman joined Waud Capital Partners in 2021, making his promotion relatively swift compared to typical trajectories.
Software and Technology Leadership
Paul Sutphin’s elevation reflects the software and technology side of Waud Capital Partners’ dual-sector focus. He joined in 2013, matching Kyle Lattner’s tenure, and led the firm’s investment in Science Exchange, a platform connecting researchers with laboratory service providers. His current portfolio includes Fusion Health, PracticeTek, and Sphere—companies operating at the intersection of software, healthcare IT, fintech, and tech-enabled services.
Chris Graber, partner and head of the healthcare group, noted that the promoted executives “have demonstrated extraordinary leadership, delivering value, insights and expertise to their portfolio companies and contributing to the continued success of Waud Capital.”
Founder Commentary and Implications
Reeve Waud emphasized human capital in his statement on the promotions: “At Waud Capital, we firmly believe that exceptional people drive exceptional value, and it holds true in both our portfolio and firm. I am proud of the caliber of talent we have within Waud Capital, and these promotions are a testament to that.”
The framing connects internal organizational development to portfolio company value creation. Waud Capital Partners’ investment approach relies on recruiting exceptional CEOs and operating executives to lead platforms—the same talent-focused methodology applies to building the investment team.
Justin DuPere, partner and co-head of the software and technology group, commented that the promotions “underscore our momentum going into 2025 as we look to deploy capital across key sectors.” The timing suggests the firm holds substantial dry powder for new platform investments and add-on acquisitions across healthcare and software portfolios.
Partnership expansion enables the firm to pursue more simultaneous investments without overtaxing senior professionals. Reeve Waud and the existing partner group can allocate responsibilities across a deeper bench, supporting the acceleration visible in recent transaction pace: from 450+ total investments at the 30-year anniversary in late 2023 to 480+ by early 2025.
Related: Hurh joins Waud Capital’s human capital team as a principal
