Apparel Turnaround Specialists Form New Company
After several years as top executives at the Buxbaum Group, twins David and Richard Ellis have left the turnaround and consulting firm to form their own Los Angeles investment company called Gemelli Group. (In Italian, “gemelli” means twins.) David Ellis had been with Buxbaum for 12 years, where he was the president and chief operating officer. In that position, he was instrumental in the turnaround and sale of Rampage Clothing Company in Los Angeles to Iconix Brand Group in New York.
Richard Ellis, who had been with Buxbaum for three years as executive vice president, spent over a decade in the oil and gas industry and has experience in asset-based lending.
“It was time to do something on our own,” said David Ellis, who was traveling more than 50 percent of the year with Buxbaum.
Gemelli Group will concentrate on deals in the apparel, food processing, and oil and gas industries.
Meanwhile at Buxbaum Group, based in Calabasas, Calif., Paul Buxbaum has added the title of president to his other jobs of chairman and chief executive officer. Jim Siebersma has been named executive vice president. —Deborah Belgum
