Paraag Davé, Tom Shelford and David Torbet have been appointed partners of UK-based mid-market private equity firm Bowmark Capital. At the same time senior partner, Mark Salter, joins Bowmark’s management committee alongside Kevin Grassby and Charles Ind.
Paraag Davé, Tom Shelford and David Torbet have been made partners of Bowmark Capital, the mid-market private equity firm. At the same time senior partner, Mark Salter, joins Bowmark’s management committee alongside Kevin Grassby and Charles Ind.
This significant internal reorganisation follows the recent successful fund-raising of Bowmark Capital Partners V, which closed in December 2013 at its cap of £375 million. The new fund’s investment period begins this month and it will invest in growth-oriented service companies, typically with enterprise values of up to £100 million, building on Bowmark’s proven strategy and track record.
Mark Salter has played a key role in Bowmark’s development over the past 12 years, including leading a number of its successful investments in the healthcare, leisure and business services sectors, such as Kisimul, School Travel Group and Leaders Lettings.
Paraag Davé joined Bowmark in 2008 having worked in a number of management roles at B2B logistics provider, Excel PLC, and prior to that at strategic consultancy firm Monitor Company. He has been instrumental in the development of Bowmark’s IT practice, working on a number of transactions, including the investments in Datix, CSL DualCom and iprism.
Tom Shelford also joined Bowmark in 2008, from Nomura Private Equity. He is responsible for the firm’s activities in the education sector and led its recent investment in ISIS Education Group. He has also helped develop Bowmark’s expertise in the business services, healthcare and media sectors, and has worked on a number of investments including Romans, Glenside and Law Business Research.
David Torbet has been with Bowmark since 2006 having worked at OC&C Strategy Consultants and food service market leader Brakes. He has played a key role in the development of Bowmark’s leisure and healthcare practices over the past eight years, and his investments include JAC Travel, CARE Fertility and Drake & Morgan.
Today’s announcement follows a busy period for Bowmark, which has committed over £120 million of equity to five new companies since the start of 2013. In addition, its portfolio companies have completed more than 20 bolt-on acquisitions during the same period.
Charles Ind, joint managing partner, said: “We are delighted to announce Mark’s promotion, and to welcome Paraag, Tom and David to the partnership. They will further strengthen our management team as we embark on the investment programme for Bowmark Capital Partners V.”
For further information, please contact:
Bowmark Capital: Charles Ind or Kevin Grassby on
020 7189 9000
Caroline Cecil Associates: Caroline Cecil or Mike Tate on
020 7610 4110
Bowmark Capital is a leading private equity firm specialising in UK mid-market companies. Founded in 1997, Bowmark manages and advises funds totalling approximately £850 million on behalf of a blue chip investor base including public pension funds, insurance companies and financial institutions from the UK, US and Continental Europe.
The Bowmark team has extensive experience of investing in growth companies, and has supported businesses in a range of industries including healthcare, education, business services, consumer and leisure, IT services and media.
Current investments include: Leaders Lettings, the UK’s largest specialist residential lettings agency; CARE Fertility, the UK’s leading independent provider of fertility services; JAC Group, a leading provider of B2B travel services; Las Iguanas, the UK’s leading chain of Latin American restaurants; and Drake & Morgan, the fast growing London-based bar-restaurant group.
Exits include: Data Explorers, the leading supplier of securities lending data to the global financial industry; Education and Adventure Travel, the leading specialist educational travel services group; Medscreen, Europe’s leading dedicated provider of drug and alcohol testing services; The Regard Partnership, a provider of care and residential services to people with a learning disability; and Datix, a leading provider of patient safety and risk management software to the healthcare sector.
Bowmark Capital LLP is authorised and regulated by the Financial Conduct Authority.