Advent continues recruitment drive

Marking the seventh addition to the firm’s operating programme in 2009, Advent International has recruited Michael McShane to focus on investment opportunities in the oil, gas and equipment sector.

Prior to joining Advent, he was chairman and chief executive officer of stem manufacturer Grant Prideco for six years. Before Grant Prideco, McShane was the chief financial officer of BJ Services. He currently serves on the board of two public companies, Complete Product Services and Spectra Energy, as well as two private companies.

Recent additions to Advent’s operating programme include technology specialists Richard Atkins, Sergio Giacoletto and John Hughes. P. Jayendra Nayak also joined to advise the firm on its Indian investment opportunities and will focus mainly on the financial services sector. Former Boots CEO Richard Baker was added to target retail and consumer sectors and former chairman of Merrill Lynch Bob Wigley is to advise the firm on opportunities in the financial services sector in Europe.

Advent’s operating programme involves business leaders from various sectors working as consultants to the firm. They are responsible for sourcing investment opportunities, assisting with the due diligence process and advising on strategic and operational development of portfolio companies. The programme currently includes over 70 individuals.