PPM Capital Partners is a partnership comprising the 15 senior members of the PPM management team and is led by Neil MacDougall. As part of the buyout PPM Capital Partners will continue to manage the current portfolio of companies. Since 1990, PPM has invested in 105 mid-market companies mainly in the retail, leisure, healthcare, business and financial services sectors and is currently invested in 12 UK and European companies including Paramount Restaurants, Azzurri Communications, the voice and data communications consultancy and Orizon, the leading German temporary work agency. The combined EBITDA for the current portfolio is approximately £265m.
Bruning, added: “For companies of all sizes, minimising environmental impact is increasingly becoming an economic issue as well as a social responsibility issue. We are keen to help companies in waste management and recycling industries.” Current sector investments include Swift, the oil & gas recruitment company and Olaer which produces hydraulic components used in wind and wave power generation. Both have benefited from a growing number of companies focusing on their environmental credentials.
“These are a strong set of half-year results,” said 3i chief executive Philip Yea. “Given the broad spread of our investment business and the strong capabilities we are building across the world, 3i faces this potentially more challenging environment from a substantially stronger position than in previous cycles.”