PPM becomes Silverfleet

London-based buyouts house PPM Capital has unveiled a new name: Silverfleet Capital. The rebranding follows the firm’s buyout from Prudential in November 2007.

The firm still has close ties to its former parent, managing approximately €700m of private equity investments on behalf of Prudential’s UK life fund alongside a newly raised independent fund.

Led by Neil MacDougall, Silverfleet has offices in London, Munich, Paris and Chicago, with 11 companies in its portfolio including department store chain TJ Hughes and the Chez Gérard restaurant chain. The firm’s last announced investment came in July 2007 – German temping agency Jobs in Time.

MacDougall said: “Our independence provides additional motivation for the team to build on our success over the last 20 years. During that time we have made over 100 investments and established an excellent track record, particularly in the retail, leisure, healthcare, business and financial services sectors. We have invested in numerous companies many of which are now household names such as Barracuda, Gala, Oasis and Tetley Tea.”