About Black Cliffs Partners

Black Cliffs Partners is a private investment firm headquartered in Salt Lake City, Utah, which partners with successful companies and entrepreneurs to promote successful and sustainable growth. Black Cliffs supports the goals of business owners whether by providing capital, operational expertise, or by creating a liquidity event and transition. Black Cliffs’ team has experience as investors and entrepreneurs and looks to have a hands-on collaborative relationship with owners. In addition to private company investments Black Cliffs’ team is also an active real estate investor.


Our Investments


Investment Focus

Black Cliffs looks to make control investments in profitable companies, but will often make minority growth capital investments as well. Black Cliffs has a flexible approach and looks to structure investments creatively and will make investments in the form of debt or equity in a variety of industries and asset classes.


Our Partners


Marshal Lunt | Founder/Partner

Marshal has spent his career working in financial and operational consulting, controllership, and CFO positions. Marshal has acted as CFO and controller for several growth-stage companies in various industries. He is experienced in accounting, finance, and operations. In a prior role, he gained business development experience globally, including managing a team in India. Marshal also has operations consulting experience, working directly with business leaders and staff to identify process improvements and cost saving opportunities.

Marshal earned his MBA from the University of Chicago, with emphases in Accounting, Entrepreneurship, Operations Management, and Strategic Management. Marshal received his undergraduate degree in Accounting from Brigham Young University, and is a Certified Public Accountant.

Michael Lunt | Founder/Partner

Mike has extensive experience in both public and private investments across a variety of industries. Previously Mike formed Bennett Capital with former U.S. Senator Bob Bennett, which provided capital and consulting to both early and late stage busineses. In addition Mike worked with Lunt Capital Management, an investment advisory firm that manages a series of innovative alternative investment strategies for private and institutional investors. He worked as a venture partner with Intrepid Equity Partners, a successful middle market private equity firm. In addition, he has participated as both a managing and capital partner in multiple ventures. His background also includes experience with Ford Motor Company, Fidelity Investments, and the Notre Dame Endowment Fund. Mike serves as the Board Chair for the Salt Lake County Economic Development Revolving Loan Fund, which provides capital to early stage companies. He holds a BS in Finance from Brigham Young University and an MBA from the University of Notre Dame. He is fluent in Portuguese.

Ben De Voe | Founder/Partner

Benjamin has served in a wide range of roles in various mergers & acquisitions with an emphasis on corporate branding, marketing, sales and operations. He has participated as both a managing and capital partner in multiple ventures. He serves as a board member of Stiry production Co. He recently founded the non-profit Hats-4-Heroes, supporting service people across the nation. Benjamin was named the 2006 Utah Sportswriter of the Year by the National Sportscasters & Sportswriters Association and has a BS from the University of Utah.

Adam Nelson | Vice President

Adam is a seasoned M&A professional, with experience on both buy and sell-side mandates. He also has operational experience as general manager of a local distribution company. Mr. Nelson previously led the due diligence operations for WebBank, a nation-wide bank focusing on private-label financing for major industry leaders. Adam managed mergers and acquisitions at a boutique firm, United Mergers & Acquisitions. Prior to United, Adam worked as a research analyst for both a family investment office and Thorpe Capital. Adam is an emeritus member of the David Eccles Alumni Network Advisory Board and former vice president of the Young Financial Professionals of Salt Lake City. He holds a BS in Finance and a minor in French from The University of Utah, and an MBA from the University Texas at Austin.

Kip Kreiling | Vice President Business Development

Kip has extensive executive management experience across the value chain (strategy; business development; product management and development; operations; marketing; finance; etc.) in a broad range of industries and companies. With over 25 years of post-MBA work experience, Kip has led multiple product/division/company transformations in senior or executive roles at large companies (Ford, HP, VodaFone, UnitedHealth Group) and startups (OmniSky, StreetSmart, InstaWurk, Tomax). Kip is also a transformation author and speaker, with a focus on helping youth in correctional facilities. He earned a BS in Finance from Brigham Young University and an MBA from Indiana University.

Hayden Taylor | CTO

Hayden is a seasoned web developer with 10+ years of experience. He has a broad range of IT and technical skills, including development, graphic design, IT support, and technology consulting. He is the founder of Blueprint Coding and services a wide portfolio of clients. He holds a bachelors and masters in Information Systems from the University of Utah.

Itzak Lefler | Director of Finance & Controller

Itzak has spent majority of his career in the private equity industry as a managerial accountant and Controller for new, growing and diverse companies in Utah such as Pleasant Grove’s theatrical adventure park - Evermore Park, People Water beverages, The VOID hyper-reality virtual gaming, and The Grid indoor go-cart racing. He’s done extensive market research for new ventures and managed due diligence for raising capital from multiple banks and investors. As an entrepreneur he’s developed his own app for the Apple/Android market and leads Utah’s largest Tai Chi organization as the founder of Shao Long, LLC. He’s also a former US Marine in the United States Marine Corps. Itzak holds a BS in Business Management and earned his MBA from Westminster College in Salt Lake City with an emphasis and Certificate in Accounting.

Brent Celestin | Director of Financing

Mr Celestin began his career with Coopers & Lybrand in San Diego where he became licensed as a CPA. From there Mr Celestin entered private industry as a Controller for companies in the professional services and technology sectors. In eight years he moved into the CFO ranks for companies in the wholesale distribution, engineering and manufacturing spaces. In 2007 Mr Celestin founded Fullcourt Advisors to provide capital to privately held businesses with an emphasis on debt instruments – having raised close to $200M in small sized transactions ($5/10M and less). Today, in addition to capital raising efforts, he also provides ongoing contract CFO and turnaround advisory services to companies that range from start-ups to well established businesses. While he is based on the West Coast, Mr Celestin has ongoing relationships with clients across the country.

Brendan Botosan | Controller

Throughout his career Brendan has developed a broad range of skills including managerial accounting, financial reporting, and control systems development. In prior roles he has been principally responsible for the development of standard operating procedures and reporting frameworks that ensure that accurate and timely information is available to stakeholders and decision makers. He values simple repeatable processes and the benefits they create in streamlining interactions between our team members, staff, and management. Brendan earned his Masters in Accounting and Bachelors of Science in Economics at the University of Utah, and has studied Logistics at Vrije Universiteit in the Netherlands and Policy Development at Arizona State University in Phoenix, Arizona.

Kendall Stauffer | Data Scientist

Kendall has been working in the data analytics and data science world since 2017. He has skills in exploratory data analysis, dashboarding/data visualization, business intelligence, data mining, modeling, machine learning, and production data science. He has applied these skills across many industries, such as biotechnology, healthcare, and SAAS. Kendall is a believer in helping businesses make data driven decisions. He holds a Bachelor’s degree in Biotechnology from Utah Valley University and is in his final semester of his Master’s degree in Data Science from the University of Utah.

Seneca Duncan | Executive Assistant

Seneca has an extensive and broad resume spanning almost every department. She has served as director of customer relations, overseen accounting departments, and acted as operations director, as well as high-tech ventures. As an Executive Assistant she has a proven track record of helping company management achieve its desired goals. Seneca has served on many youth athletic boards and enjoys sharing her talents as a volunteer whenever possible.

Brock Arbon | Accountant

Brock is a seasoned account and has been working in the accounting field for more than 7 years. Brock brings a wide variety of accounting skills to the table. He brings experience in multiple different fields including non-profit accounting as well as doing accounting for hospitality and restaurants and in manufacturing accounting as well. Brock served in the United States Marine Corp for 5 years and during that time did a tour to Afghanistan as a member of the Police Advisory team. Brock enjoys going hiking, swimming and spending time outside with his wife and sweet dog Daisy.

Cayleena Hallman | Accountant

Cayleena holds a bachelors in accounting and is wrapping up her masters of accounting with a concentration in auditing. She enjoys spending her free-time training for an running marathons, horseback riding, and quilting.

Scott Liebman | Operating Partner

Scott is the Founder and Managing Partner of Liebman Group, an operationally focused private equity and consulting firm. He has more than a decade of experience in financial services and operations. Prior to founding Liebman Group, Scott was an Operating Partner at BASE Equity Partners, a New York-based private equity group. At BASE, Scott worked hand-in-hand with BASE’s portfolio companies, building infrastructure, maximizing efficiency and preparing them for growth. Prior to joining BASE, Scott was a member of the Senior Leadership team at Armchem International, an industrial supply distributor, where he led corporate mergers & acquisitions and strategy origination & execution. Prior to that, he was a M&A associate at Cross Keys Capital and a Portfolio Manager at FNY Capital Management. Scott holds an Honors Bachelor of Arts from the University of Pennsylvania. A devoted husband and father of two, Scott spends his free time volunteering as a Board Member of the University of Pennsylvania Alumni Association of the Florida Gold Coast and the David Posnack Jewish Community Center.

Grant Kessler | Senior Advisor

Srant Kessler is a Senior Advisor to and long time supporter of Black Cliffs Partners. He has served as a CEO for multiple public and private companies. Grant has a wealth of experience in Real estate, finance, operations and politics. In addition to military service Grant also earned a Bachelors and J.D. from the University of Utah.