Team

Carson Biederman

Managing Partner

Carson has an extensive background investing in and building middle market companies. From 1996 to 2003, Carson executed buyouts and venture investments for Bain Capital, the leading private equity firm focused on applying management consulting principles to hands-on investing. Carson was a founding member of two new investment practices at Bain Capital, Bain Capital Ventures and Sankaty Advisors, with assets under management exceeding $2 billion.  He has also served as Chief Financial Officer of two middle market companies.

Prior to Bain Capital, Carson helped companies raise debt and equity financing and advised companies on mergers and acquisitions while in the investment banking group at Donaldson, Lufkin & Jenrette.  Carson graduated from the Wharton School of the University of Pennsylvania. Carson and his wife and daughter live in Boston.

Email: carson@mustanggroup.com Phone: 617-467-6800 Extension 226

Ian Blasco

Managing Partner

Ian has extensive investment experience in both large scale buyouts and in middle market transactions. Most recently, Ian served as one of four managing directors for Fidelity Equity Partners (FEP), a $500M investment fund focused on buying growing, asset-light, service-oriented companies.  Prior to FEP, Ian worked from 1998 to 2008 at Bain Capital where he focused on investments in the consumer, technology, and media spaces.  Sample transactions while at Bain include: Bombardier Recreational Products, Advertising Directory Solutions, Sensata Technologies, and OSI Restaurant Partners.  Ian also led Bain Capital’s pre business school recruiting efforts.

Prior to Bain Capital, Ian worked at a management consultant at Bain & Company.  Ian graduated from Princeton University and received his MBA from the Harvard Business School. Ian, his wife, and three children all live in the Boston area.

Email: ian@mustanggroup.com Phone: 617-467-6800 Extension 231

Ben Coes

Managing Partner

Ben has an extensive background doing leveraged buyouts as well as managing companies. From 1995 to 2000, Ben was a partner at Iron Road Railways Incorporated, a Washington, D.C.-based holding company that consolidated a significant share of the northeastern freight rail network. Ben also founded Beachfire, a venture-backed enterprise class software company that pioneered mediation technology solutions for the financial services sector.

Prior to Mustang, Ben served as campaign manager for Mitt Romney’s successful run for Governor of Massachusetts in 2002 and served as a Fellow at the John F. Kennedy School of Government at Harvard University. Ben began his career in the public sector as a White House Intern under President Ronald Reagan, then as a White House-appointed speechwriter for former U.S. Secretary of Energy James Watkins. A graduate of Columbia College, Ben lives in Wellesley, Massachusetts with his wife, Shannon, and their four children, Charlie, Teddy, Oscar and Esme.

Email: ben@mustanggroup.com Phone: 617-467-6800 Extension 227

Bob Crowley

Managing Partner

Bob, a veteran business operator, has held senior management positions for over 25 years with several outstanding companies. Two had highly successful public offerings, two were acquired for a cumulative amount of more than $2 billion and two of these companies remain privately held.

After graduating from Villanova University, Bob began his career managing cable television properties for American Cablesystems, followed by two well known successes in the enterprise software sector (CableData and Kenan Systems) and most recently was CEO of two technology pioneers in XML and Web services (Arbortext and Bowstreet). Prior to Mustang, Bob was managing director of Safeguard Scientific’s (NYSE:SFE) software portfolio. Bob has directly raised $160 million in equity and continues to sit on a variety of company boards. Bob’s expertise is accelerating growth of businesses in highly competitive environments. Bob and Marcy have two sons, Patrick and Drew and divide time between Newton, Massachusetts and Sacramento, California, where Bob increases Mustang’s reach west.   Bob is an ultra distance trail runner and is interested in skiing, horseback riding and music.

Email: bob@mustanggroup.com Phone: 617-467-6800 Extension 224

Eric Tencer

Principal

Eric has a broad range of investing and operating experience. From 2003 to 2005, Eric was an associate at Arcadia Partners, a leading venture capital firm, where he helped source, evaluate and conduct a range of transactions, while also working closely with company management teams on strategic, financial and operational projects for numerous companies in the health care, education and business service industries. Prior to Arcadia, Eric spent three years at Bain & Company working for consumer products, industrial manufacturing, retail, health care and telecommunications companies. At Bain, he helped lead initiatives evaluating new product introductions, analyzing pricing programs, creating business unit growth plans, developing supply chain strategy, and conducting due diligence for acquisitions.

Eric received his MBA from Harvard Business School and an economics degree from Duke University. He lives in Cambridge, Massachusetts with his wife, Genevieve, and is a passionate Duke basketball and Red Sox baseball fan.

Email: eric@mustanggroup.com Phone: 617-467-6800 Extension 222