Apax Partners has elected Andrew Sillitoe and Mitch Truwit as the firm’s new co-chief executive officers. They will assume their roles on 1st January, 2014, succeeding Martin Halusa, who has served as Apax’s CEO since 2004 and who will become chairman of the firm, until his retirement at the end of the Apax VIII investment period.
Apax Partners (“Apax”), a leading global private equity firm, today announced the election of Andrew Sillitoe and Mitch Truwit as the Firm’s new Co-Chief Executive Officers. Andrew and Mitch will assume their roles on 1st January, 2014, succeeding Martin Halusa, who has served as Apax’s CEO since 2004 and who will become Chairman of the Firm, until his retirement at the end of the Apax VIII investment period.
Martin Halusa said, “I am delighted with today’s election of Andrew and Mitch as Apax’s new co-CEOs. This marks the successful outcome of the Firm’s formal succession process first established when our founder Sir Ronald Cohen stepped down a decade ago. Apax’s partnership model and consensus driven approach have served the Firm and all of its stakeholders extremely well over the past three decades and I believe Andrew and Mitch are well-qualified and experienced to lead and inspire the next generation of Apax.”
Andrew Sillitoe said, “On behalf of all of the Partners, I’d like to thank Martin for the tremendous leadership he has provided to the Firm as CEO over the past decade in creating one of the few global partnerships in the private equity industry. I look forward to continuing to work closely with Mitch in the years ahead and taking Apax to the next level.”
Mitch Truwit said, “I am excited, together with Andrew, to be working with an extremely talented, entrepreneurial team that will build upon the global platform and culture of stewardship Martin has helped establish, and to continue delivering the best possible outcomes for our investors.”
Note to Editors:
Dr. Halusa, age 58, was elected CEO of Apax Partners in October 2003, succeeding Apax founder Sir Ronald Cohen in 2004. In 1990, Dr. Halusa co-founded Apax Partners in Germany as Managing Director. Dr. Halusa’s investment experience has focused primarily on the telecommunications and service industries.
Mr. Sillitoe, age 41, is a Partner in the Apax Tech & Telco team and has been based in London since joining the Firm in 1998. Mr. Sillitoe has led or been involved in a number of investments, including Orange Switzerland, TIVIT, TDC, Intelsat and Inmarsat. Prior to joining Apax Partners, Mr. Sillitoe was a consultant at LEK where he advised clients on acquisitions in a number of sectors. Mr. Sillitoe holds an MA in Politics, Philosophy and Economics from Oxford and an MBA from INSEAD. Mr. Truwit, age 44, is a Partner in the Apax Services team and has led or been involved in a number of investments, including HUB International, Bankrate, Advantage Sales & Marketing, Dealer.com, Trader Canada and Garda. Prior to joining Apax Partners in 2006, Mr. Truwit was the President and CEO of Orbitz Worldwide, a subsidiary of Travelport, between 2005 and 2006 and was the Executive Vice President and Chief Operating Officer of priceline.com between 2001 and 2005. Mr. Truwit is a graduate of Vassar College where he received a BA in Political Science. He also has an MBA from Harvard Business School.
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About Apax Partners Apax Partners is one of the world’s leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over $40 billion around the world in aggregate. Funds advised by Apax invest in companies across four global sectors of Consumer, Healthcare, Services and Tech & Telco. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.
Contacts Apax Partners Sarah Rajani CFA Director of Communications Apax Partners t: +44 20 7666 6573 e: firstname.lastname@example.org US Enquiries Todd Fogarty Senior Vice President Kekst & Company t: +1 212 521 4854 e: email@example.com