NatWest Development Capital, which last month quietly changed its name to Royal Bank Development Capital, has moved Daniel Smith into its Birmingham, UK office.
Smith has worked for Royal Bank of Scotland since 1993, most recently as associate director in the bank’s leveraged finance department in Birmingham, providing senior and mezzanine finance in support of leveraged buyouts, buy-ins and acquisition transactions across the Midlands. Recent deals include the GBP25 million management buyout of Pimpernel International and the GBP25 million institutional buyout of Initial Personnel Services.
Royal Bank Development Capital focuses on private equity transactions with a value of between GBP2 and GBP20 million and so it’s between Royal Bank Ventures and Royal Bank Private Equity in terms of its target deal size. Royal Bank Development Capital now has a network of six offices based in Edinburgh, Leeds, Nottingham, London, with the recent additions of Birmingham and Manchester in October 2001.