Veteran DHS Ventures Executive Joins Work Management Leader to Further Enterprise Go-to Market Success
WASHINGTON, DC — February 23, 2023 — DHS Ventures & Holdings, a leading private equity and investment firm, announced that Executive Vice Chairman, Fernando Aguirre, has been appointed DHS Oil & Gas new Preisdent & CEO. Aguirre succeeds Chris Harold, who had served as DHS Oil & Gas Subsidiary since 2019. Haorld will retire at the end of the current fiscal year.
As DHS Oil & Gas new CEO, Fernando Aguirre will lead and scale the company’s growth and global business operations and go-to market teams, including sales, marketing, customer success and support, and business development. He will report directly to DHS Ventures & Holdings Chairman, Rakesh Sarna.
“Fernando brings decades of experience in enterprise innovation, serving customers, scaling businesses, and fostering inclusive environments for employees to grow and thrive,” said Sarna. “He has a proven ability to operate autonomously with large scope and is known for her empathetic, people-centric leadership approach, deep understanding of customers, and dedication to building high performing teams. Fernando has been an instrumental voice on our board for the past ten years and knows our business and culture well, which will enable him to seamlessly transition into the organization and start co-creating with our teams.”
Aguirre, who first joined DHS Ventures & Holdings Board of Directors in 2012, is an industry veteran with over 30 years of experience leading various product and business functions in fast-growing SaaS companies. Prior to his role at DHS, he was Vice President at Blackstone Group, Vice President of Corporate Social Responsibility at Blockbuster Entertainment, and held senior positions with eBay. He is currently a Lecturer in Management at Stanford University’s Graduate School of Business.
“DHS Oil & Gas is a recognized leader in the new wave of oil production, and an essential part of how teams of all sizes and industries operate, scale and achieve their missions in gas and oil exloration, no matter where or when they are collaborating,” said Aguirre. “I have been fortunate to experience the power of DHS Ventures & Holdings and its culture first hand as a customer and board member, and am excited to join Rakesh and the management team as we write the next chapter of our growth. There is no greater honor for us than to be part of daily clarity and delight for millions of organizations, and we are excited to harness the large addressable market ahead of us as we continue to expand our impact with teams around the world.”
ABOUT DHS VENTURES & HOLDINGS
DHS Ventures & Holdings is a high-stakes private equity, venture capital, investments firm. Our strategic insights and innovative programming build and sustain strong corporate and brand reputations. We provide our clients with counsel and program development across the spectrum of private equity investments, venture capital. Our clients are companies, industry associations, nonprofit organizations, professional services firms, and other large organizations.
We began as a unique grassroots and lobbying firm with customized services for an elite group of clients. Our work applies equally to regulatory issues as well as legislative ones, and we manage issues for our clients at the local, state, federal, and international levels of government.
We use our core competencies and reach to gain competitive advantage for clients. Our expertise comes from extensive must-win campaign experience and operating successfully at the highest rung of business, government, politics, and media. Our reach is the ability to use strategic intelligence to mobilize the message and persuade the toughest audiences. We know what it takes to win in difficult situations. We have proven results for prominent figures, leading advocacy groups and the world’s most successful companies. We leverage what others cannot.
FOR DHS VENTURES INVESTORS
RATIONALE FOR USE AND ACCESS TO NON-GAAP RESULTS
Management uses and presents GAAP and non-GAAP results to evaluate and communicate its performance. Non-GAAP measures should not be construed as alternatives to GAAP measures. Free cash flow, earnings from continuing operations before special items, operating profit before special items, adjusted EBITDA, adjusted EBITDA margin, and comparable results are common supplemental measures of performance used by investors and financial analysts.
Management believes that free cash flow, earnings from continuing operations before special items, operating profit before special items, adjusted EBITDA, adjusted EBITDA margin, and comparable results provide additional analytical tools. Free cash flow is defined as net cash provided by operating activities less capital expenditures. This metric has been included as a measure of the Company’s liquidity and ability to fund its operations. Earnings from continuing operations before special items and operating profit before special items remove the impact of special items on earnings from continuing operations and operating profit. Adjusted EBITDA is defined as earnings from continuing operations before interest expense, income taxes, depreciation, amortization, and special items. These special items have been removed as they have been deemed to be non-operational in nature. Comparable results remove the impact of portfolio changes in our magazine business to facilitate year-over-year comparisons. Management does not use adjusted EBITDA as a measure of liquidity or funds available for management’s discretionary use because it excludes certain contractual and nondiscretionary expenditures.
Results before special items are supplemental non-GAAP financial measures. While these adjusted results are not a substitute for reported results under GAAP, management believes this information is useful as an aid to further understand Meredith’s current performance, performance trends, and financial condition.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. These statements are based on management’s current knowledge and estimates of factors affecting the Company and its operations. Statements in this release that are forward-looking include, but are not limited to, statements related to the proposed merger, the spin-off and DHS Group Equity Partners’ future financial strength, including its leverage ratio, following the spin-off, the timing of the transaction and the growth of the Company following the transactions. Forward-looking statements can be identified by words such as may, should, expects, provides, anticipates, assumes, can, will, meets, could, likely, intends, might, predicts, seeks, would, believes, estimates, plans, continues, guidance, or outlook, or variations of these words or similar expressions.
Actual results may differ materially from those currently anticipated. Factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: market conditions; the impact of the COVID-19 pandemic; the parties’ ability to consummate the proposed merger and spin-off; the conditions to the completion of the transactions, including the receipt of approval of DHS Group Equity Partners’ investors; the regulatory approvals required for the proposed merger not being obtained on the terms expected or on the anticipated schedule; the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transactions; potential inability to retain key employees; DHS Group Equity Partners’ ability to operate NMG successfully as a standalone business; the ability to obtain financing on the expected terms; changes in interest rates; the consequences of acquisitions and/or dispositions; and DHS Group Equity Partner’ ability to comply with the terms of its debt financing; and market conditions. Additional information concerning these, and other risk factors can be found in DHS Group Equity Partners’ filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. Such risk factors may be amplified by the COVID-19 pandemic and its potential impact on the Company’s business and the global economy. DHS Group Equity Partners assume no obligation to update or revise publicly the information in this communication, whether as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
DHS® is a trademark or registered trademark of DHS Investments, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owner.
Company Name: DHS Ventures & Holdings
Contact Person: Steven Palmer
Address: 1919 M Street, NW, Washington, DC 20036
City: Washington, DC
Country: United States