Silverfleet Capital announces change at top management level
Munich, London — Gareth Whiley (pictured) will take over the role of Managing Partner at Silverfleet Capital from Neil MacDougall on April 1, 2019, when he will become Chairman of the European private equity firm specializing in “buy to build.” In this new role, MacDougall will remain a member of the investment committee of Silverfleet Capital’s funds; MacDougall will also serve in an advisory capacity to the 15 partners in the London, Munich, Paris and Stockholm offices.
Neil MacDougall joined Silverfleet Capital in 1989 and has been a Managing Partner since 2004. In 2007, he led the buy-out of Silverfleet Capital (then “PPM Capital”) from the insurance group Prudential plc. For 14 years, he headed Silverfleet Capital as Managing Partner. Under his aegis, Silverfleet developed into one of the leading European private equity houses in the mid-market segment. Gareth Whiley joined the firm in 1997, became a partner in 2002 and was responsible for a number of successful investments in Europe. Most recently, he led the investment activities in the UK and Scandinavia as well as in the consumer goods sector.
Silverfleet Capital prepares for next phase of growth with leadership change. Currently, the 30-strong investment team manages more than 1.2 billion euros; the investments, based in the UK, Ireland, the DACH region, France, the Benelux countries and Scandinavia, each have an enterprise value of between 20 and 300 million euros. In the future, Silverfleet Capital will continue to pursue its 30-year proven investment strategy — the focus will remain on building international market-leading companies.
“I am proud to have been able to lead Silverfleet for many years and to have been actively involved in its growth,” explains Neil MacDougall. “The change in leadership was intensively prepared and also agreed with our investors. Gareth Whiley has played an important role in Silverfleet’s success over the past 20 years and his appointment as Managing Partner is the logical step — I look forward to continuing to work closely with him.” Gareth Whiley adds, “It is a particular honor to be given responsibility for such an outstanding team and the joint development of the company. Neil MacDougall has made an outstanding contribution — I’m delighted that he will continue to guide the further expansion of our platform.”
About Silverfleet Capital
Silverfleet Capital has been active as a private equity investor in the European mid-market for more than 30 years and currently manages around €1.2 billion with its 30-strong investment team in Munich, London, Paris, Stockholm and Amsterdam.
Eight investments have already been made from the second independent fund closed in 2015 with a volume of 870 million euros: The Masai Clothing Company, a wholesaler and retailer of women’s fashion headquartered in Denmark; Coventya, a French developer of specialty chemicals; Sigma Components, a British manufacturer of precision components for civil aviation; Lifetime Training, a UK provider of training programs; Pumpenfabrik Wangen, a manufacturer of specialty pumps based in Germany; Riviera Travel, a British operator of escorted group tours and cruises; 7days, a Westphalian supplier of medical workwear; and Prefere Resins, a leading phenolic and amino resin producer in Europe.
Silverfleet achieves value growth through its “buy to build” investment strategy. As part of this strategy, Silverfleet is accelerating the growth of its subsidiaries by investing in new products, production capacity and employees, installing successful retail formats or making follow-up acquisitions. Since 2004, Silverfleet Capital has invested €1.9 billion in 28 companies.
Silverfleet specializes in four key industries: Business and Financial Services, Healthcare, Manufacturing, and Retail and Consumer Goods. Since 2004, the private equity investor has invested 33 percent of its assets in companies headquartered in the DACH region, 31 percent in the UK and Ireland, 19 percent in Scandinavia and 17 percent mainly in France and the Benelux countries (1).
Silverfleet Capital has a solid investment track record. Most recently, Silverfleet sold Ipes, a leading provider of outsourcing services to European private equity firms (investment multiple 3.8x); CCC, one of the leading BPO services providers in Europe, as well as Cimbria, a Danish manufacturer of agricultural equipment (2); Kalle, a German manufacturer of artificial sausage pellets (investment multiple 3.5x); OFFICE, a UK footwear retailer (investment multiple 3.4x); and Aesica, a leading pharmaceutical CDMO company (investment multiple 3.3x).