European People Briefs, October 2012

Deutsche Beteiligungs Shuffles Top Brass

Following the summer closure of its sixth buyout fund, veteran German private equity house Deutsche Beteiligungs (DB) has named Susanne Zeidler as its incoming CFO.

Zeidler spent two decades as an auditor at KPMG before a brief stint in charge of Aid to the Church in Need, the charity she leaves to join DB’s management board.

She will take over from Wilken von Hodenberg, who will step down from the board alongside André Mangin as part of a “generational change” amongst the firm’s senior executives.

Although Ziedler joins the board this November, her tenure as CFO will begin in March 2013, when Mangin and von Hodenberg depart.

Von Hodenberg’s role as spokesman for the board will be assumed by Torsten Grede.

Deutsche Beteiligungs’ €567 million ($703 million) sixth fund targets industrial and services companies in German-speaking countries.

Respected Scientist Joins Ludgate Environmental Fund

Two senior figures from the worlds of science and economics have added considerable firepower to the investment committee of London-based Ludgate Investments, a private equity firm that acquires resource efficiency businesses.

Bernard Bulkin, once chief scientist at BP, and Ekaterina Sharashidze, a former minister of economic development for Georgia, join Ludgate as non-executive directors.

While Sharashidze has accumulated years of private equity experience since leaving politics, Bulkin’s time overseeing BP’s clean fuel strategy positions him well to advise a Ludgate portfolio that includes oil recycling, biogas and other renewable energy businesses. 

He also advises San Bruno, Calif.-based VantagePoint Capital Partners, which has a similar sector focus to Ludgate’s.

Ludgate’s Environmental Fund has invested £51 million ($81 million) in 16 companies and completed two exits since its launch in 2007.

Arle Makes Goode Partner

London-based Arle Capital Partners will take on Peter Goode as a partner after working with him on five deals in the energy sector.

These included last year’s sale by Arle of Capital Safety Group, where Goode was chairman, to KKR for $1.1 billion.

That realization helped slash net debt at Candover Investments, the private equity firm that is having its portfolio wound up by Arle, which spun out of Candover in 2010.

Goode’s most recent role was as CEO of Transfield Services Group, an energy sector services provider. He was set to join Arle on Oct. 1.

Maven Strengthens SLF Team

Almost two years and £15 million ($24 million) of investment into its Scottish Loan Fund (SLF) mandate, Glasgow-based Maven Capital Partners has hired Alan Robertson as an investment manager to oversee further deals for the fund.

Originally funded exclusively by state money, the SLF has now raised £113 million ($180 million) after commitments from a number of banks.

It invests up to £5 million ($8 million) in Scottish businesses with annual sales exceeding £1 million and has funded six businesses to date.

Maven Partner Andrew Craig told VCJ he hoped the fund would complete four more deals before year’s-end.

Robertson will work in Maven’s Edinburgh office.

Rutland’s New Double-Barrelled Dealmaker

London-based turnaround investor Rutland Partners has added James Barrington-Wells, a chartered accountant, to its investment team.

Barrington-Wells previously worked at consultancy Deloitte covering the consumer business, technology and manufacturing sectors.

Rutland continues to invest its second fund, which closed at £322 million ($522 million) in 2007, but has been busier in the exit market this year.

Compiled by Alex Derber