Essential Properties Realty Trust, Inc. (NYSE: EPRT), an
internally managed real estate investment trust (REIT) that
acquires, owns and manages primarily single-tenant properties that
are net leased on a long-term basis to companies operating
service-oriented or experience-based businesses, today announced
that the Board of Directors has elected Lawrence J. Minich, Heather
Leed Neary and Janaki Sivanesan to serve on the company’s Board of
Directors. With these elections, the board consists of nine
members, eight of whom are independent.
“On behalf of our Board, I am pleased to welcome Lawrence J.
Minich, Heather Leed Neary and Janaki Sivanesan to Essential
Properties’ Board of Directors,” said Paul Bossidy, Chairman of the
Board of Essential Properties. “Larry’s experience and long tenure
as a senior executive at Mister Car Wash, where he served as Chief
Financial Officer from 1999-2013 and as a Vice President and
Special Advisor, focusing on, among other things, sourcing and
negotiating sale-leaseback transactions, are highly relevant to our
business. Similarly, we are delighted that Heather has joined our
Board. Heather has been the President of Auntie Anne’s, the largest
soft pretzel franchisor, since November 2015, and has held various
positions of increasing responsibility at that company since 2005.
We will benefit from Heather’s extensive experience in
consumer-facing marketing, operations and as a senior executive at
a company with significant retail tenancies. Finally, Janu’s
experience as an investor, focusing on early stage and middle
market companies, and as a practicing attorney is extensive. We
will benefit from Janu’s experience with complex legal and
financing transactions as well as mergers and acquisitions and
governance matters. Collectively, these three seasoned executives
bring significant financial, operational, leasing, real estate,
legal, franchising, marketing, governance and investment experience
to our Board. We are pleased to welcome these talented executives
to a board comprised of highly engaged and experienced directors
with diverse, relevant backgrounds and a shared commitment to
strong corporate governance and stockholder value.”
Lawrence J. Minich. Mr. Minich retired in 2019 as an executive
officer of Hotshine Holdings, Inc. (d/b/a Mister Car Wash), a
private equity-backed company that is one of the largest car wash
operators in the United States. Mr. Minich served as the company’s
Chief Financial Officer from 1999-2013, at which time he
relinquished that position as part of the company’s management
succession plan, and from 2014-2019 he served as a Vice President
of and Special Advisor to Mister Car Wash. During that later
period, Mr. Minich continued to work with the company’s acquisition
team in evaluating and negotiating acquisitions, including the
sourcing and negotiation of sale-leaseback transactions. He also
served on the company’s investment committee and as an advisor to
senior management on strategic, operational and administrative
matters. Prior his affiliation with Mister Car Wash, Mr. Minich
worked as a financial consultant from 1997-1999 and served as
Senior Vice President & Treasurer of Blue Coral, Inc., a
privately held manufacturing company in the automotive aftermarket,
from 1981-1996, when the company was sold to Quaker State Oil.
Earlier in his career, from 1970-1981, Mr. Minich worked in the
audit department of Arthur Andersen & Co. Mr. Minich received
his B.S. in Accounting from the University of Akron in 1970 and his
CPA certificate in 1972.
Heather Leed Neary. Since November 2015, Ms. Neary has been the
President of Auntie Anne’s, the largest soft pretzel franchisor,
with more than 1,800 locations in 48 states and over 25 countries.
Ms. Neary joined Auntie Anne’s in 2005 and has held positions of
increasing responsibility, including Vice President, Global
Marketing immediately prior to her promotion to President in 2015.
During her tenure at Auntie Anne’s, Ms. Neary has been responsible
for various functions, including overseeing marketing,
communications, operations, research and development, product
innovation and the franchisee leadership team. Prior to joining
Auntie Anne’s, Ms. Neary held roles in marketing and as a managing
editor for a business magazine. In addition to her commercial
activities, Ms. Neary serves on the Board of Directors of the
Lancaster Family YMCA, a charitable organization in Lancaster
Pennsylvania focused on improving the health and well-being of the
community. She also serves on the Board of Advisors for Penn State
Harrisburg and the Advisory Board for Alex’s Lemonade Stand
Foundation. Ms. Neary also mentors high school women as part of the
Lancaster Chamber of Commerce’s Women in Business program. Ms.
Neary received a B.A. from Millersville University in 1999 and an
M.B.A. from Penn State University in 2009.
Janaki Sivanesan. Ms. Sivanesan is a practicing attorney and
private investor in early stage and middle market companies. She
was also a founding principal of a private equity firm focused on
middle market investments. Ms. Sivanesan has over 20 years of legal
experience, including practicing as a partner at large,
international firms. As an independent sponsor-principal and as a
legal advisor, Ms. Sivanesan has participated in a wide range of
transactions, including mergers and acquisitions, complex corporate
financings and restructurings. Ms. Sivanesan has structured and
negotiated private equity and debt investments in a range of
industries, including technology, healthcare, oil and gas, and real
estate development. Ms. Sivanesan also has experience in
cross-border transactions related to manufacturing and outsourcing,
and is knowledgeable with respect to business operations in India.
Ms. Sivanesan has been a member of the Board of Directors of Hurco
Companies, Inc. (Nasdaq Global Select Market: HURC), an
international industrial technology company, since 2008. Ms.
Sivanesan received her Bachelors of Arts in Business
Administration, finance, magna cum laude, from Kennesaw State
University in 1991 and her Juris Doctor, cum laude, from Case
Western Reserve University School of Law in 1995.
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed
real estate investment trust (REIT) that acquires, owns and manages
primarily single-tenant properties that are net leased on a
long-term basis to companies operating service-oriented or
experience-based businesses. As of September 30, 2019, Essential
Properties had a portfolio of 917 freestanding net lease properties
with a weighted average lease term of 14.4 years and a weighted
average rent coverage ratio of 2.9x. As of the same date, Essential
Properties’ portfolio was 100.0% leased to 199 tenants operating
233 different concepts in 16 industries across 45 states.
Additional information about Essential Properties can be found on
its website at www.essentialproperties.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. When used in this press
release, the words “expect” and “will,” or the negative of these
words, or similar words or phrases that are predictions of or
indicate future events and that do not relate solely to historical
matters, are intended to identify forward-looking statements. You
can also identify forward-looking statements by discussions of
strategy, plans or intentions. Forward-looking statements involve
numerous risks and uncertainties and you should not rely on them as
predictions of future events. Forward-looking statements depend on
assumptions, data or methods that may be incorrect or imprecise.
Essential Properties does not guarantee that the transactions and
events described will happen as described (or that they will happen
at all). You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
press release. While forward-looking statements reflect Essential
Properties’ good faith beliefs, they are not guarantees of future
performance. Essential Properties undertakes no obligation to
publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date of this press release or to reflect
the occurrence of unanticipated events, except as required by law.
In light of these risks and uncertainties, the forward-looking
events discussed in this press release might not occur as
described, or at all.
Additional information concerning factors that could cause
actual results to differ materially from these forward-looking
statements is contained from time to time in Essential Properties’
SEC filings. Copies of each filing may be obtained from Essential
Properties or the SEC. Such forward-looking statements should be
regarded solely as reflections of Essential Properties’ current
plans and estimates. Actual results may differ materially from what
is expressed or forecast in this press release. These
forward-looking statements speak only as of the date of this press
release and should not be relied upon as predictions of future
events. Essential Properties expressly disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained herein, to reflect any change in Essential Properties’
expectations with regard thereto, or any other change in events,
conditions or circumstances on which any such statement is based,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200127005201/en/
Investor/Media: Essential Properties Realty Trust, Inc. Daniel
Donlan Senior Vice President, Capital Markets 609-436-0619
investors@essentialproperties.com
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