Dustin S. Campbell

Managing Partner

Prior to starting DSG, Dustin consulted with multiple private equity-owned companies on growth strategy and operational improvements. He also served for four years as Director of Strategic Planning and Bid Administration for North American Bus Industries, Inc. (NABI), a Cerberus Capital Management company.  In this capacity he led efforts to build out a more robust financial infrastructure, revamp the firm’s new business evaluation process, streamline the product portfolio, and executed many tactical operational improvements throughout the business. He currently serves as the President of Adtech Systems, LLC, and is a member of Adtech's Board of Directors.


Prior to NABI, Dustin worked for Cerberus on its operations team, leading improvement projects in various portfolio companies.  Earlier in his career, he worked at Boston Consulting Group, Eli Lilly and SunTrust Robinson Humphrey, where he focused on mergers and acquisitions.  He received his MBA from Harvard Business School and undergraduate degree from Indiana University.  


Philip J. Muscatello

Managing Partner

Philip has a background primarily as a research analyst and portfolio manager.  Prior to starting DSG, he was a partner at Lee Munder Capital Group.  The majority of his work has been focused on small cap growth companies.  He has developed an expertise in the energy and industrial sectors and has strong knowledge of consumer services, business services,  and alternative energy industries.  His investment philosophy is based on identifying macro trends that have implications for growth in smaller companies, augmenting this with a rigorous and methodical research and evaluation process.  He currently serves as the SVP of Sales & Marketing of Adtech Systems, LLC, and is a member of Adtech's Board of Directors.

Philip received his MBA from Boston College and his undergraduate degree from St. Joseph’s University.


Erik R. Waters


Erik joined Davis Square Group in 2015 with a background in Finance, M&A, and Operations.  Prior to joining DSG, Erik spent 4 years with Ascend Learning, an educational content and technology company.  At Ascend, Erik first led corporate development and then moved to an operating role, leading the conversion of a traditional publishing division into a digital-first educational technology company.  Prior to Ascend, Erik was VP of Finance for GreatPoint Energy, an energy technology company.  Earlier in his career, Erik worked for Cambridge Associates and in the Americorps/VISTA program.  He currently serves as the CFO of Adtech Systems, LLC, and is a member of Adtech's Board of Directors.

Erik received an MBA from the University of Chicago Booth School of Business and a B.A. in Economics from Colby College.


Thomas L. Holman


Tom joined Davis Square Group in 2016 with over 23 years of experience in managing small cap growth equity strategies at Invista Capital Management, Evergreen Investment Management, Lee Munder Capital Group, and most recently at Manulife Asset Management.  Tom was responsible for analyzing investment opportunities across a wide range of industries and for consistently executing the investment process.  He was also responsible for promoting his team's strategies through a rigorous business development process that focused on value proposition and differentiation. Tom currently serves in a business development role at Adtech Systems.

Tom received his MS in Business Administration and his undergraduate degree from Iowa State University.