Duke Street recruits Stanley Tools head as operating partner

Duke Street Capital, the UK mid market private equity firm, has appointed Thierry Paternot as operating partner. He will specialise in consumer facing businesses.

Paternot is currently president of Stanley Tools, Europe, the specialist tools company with over 4,000 employees and 13 factories. He was previously the CEO of Facom in Paris, before its acquisition by Stanley Europe in January 2006. As CEO of Facom he was responsible for the complete turnaround of the business, growing operating income from €8m in 2003 to €57m in 2005. Prior to joining Facom, Thierry was chairman of Reemtsma in Germany, the world’s fourth largest cigarette manufacturer. He previously spent 22 years at L’Oréal, during which time he was Managing Director of Germany, France and Southern Europe.