- UBS has hired Simon Perry as head of European CDOs. Based in London, he joins as managing director and will report to Jim Stehli, global head of the global CDO group. He joins UBS from IXIS, where he ran the European CDO team. The bank has also hired Sharif Anbar-Colas as a secondary CDO trader. He joins as director, reporting to Keith Grimaldi and Malay Patel, co-heads of secondary CDO trading, and will be based in London. Previously, he was a secondary CDO trader at Bear Stearns.
- Investec Private Bank has appointed Gary Edwards to expand funding activities in selected owner-managed and mid-market corporates. Edwards joins Investec after eight years at GE Commercial Finance Europe, where he was chief operating officer from December 2002. There, he spearheaded the growth of the business across 10 European countries.
- Listed private equity firm 3i acquired Skanska Modul from Skanska for £26m. The transaction includes the Temporent and Flexator business units. Skanska Modul is a market leader in Sweden in manufacturing and letting prefabricated premises. Estimated turnover for 2005 is £35.5m.
3i is introducing Mats Mared as the new chairman for Skanska Modul. Mared has experience in the sector, as he has worked for Skanska for 30 years. Additionally he has been managing director for stock exchange listed company, Drott AB.
3i has also invested €60m for a significant minority stake in Poliris, the Paris-based publisher of online real estate listings directories and property related information. Founded in 1992 by CEO Denys Chalumeau and MD Amal Amar, the company publishes four websites and has a turnover of €24m. Growth prospects are strong, following the current market switch from off-line to online listings, 3i said.
- UK-based middle market private equity firm Gresham Private Equity backed the MBO of Speciality Retail Group (SRG), a UK menswear retailer, in association with Adrian Wright, the former chief executive of Moss Bros. The deal represented the 11th investment since August 2004 for Gresham.
The firm is no stranger to the retail sector, having invested previously in Cooltrader, Perfect Pizza and Individual Restaurant Company. The UK men’s suit market is estimated at around £700m per annum and is forecast to experience further growth. The team will expand the business, with 35 new stores planned over the next three years and an enhanced product offering.
- Nordic Capital Fund V will acquire 75% of the equity of Permobil from a subsidiary of the Swedish Foundation for Technical Aid for Disabled Persons. Permobil employs about 500 staff and generated sales of approximately SKr840m (US$104m) in 2004.