Miles Cresswell-Turner has joined Duke Street Capital as a partner, with a focus on financial services. He previously was a partner with Palamon Capital Partners.
Duke Street, the independent European mid-market Private Equity firm, announces today that Miles Cresswell-Turner has joined the company as Partner, specialising in Financial Services.
Miles joins from Palamon Capital Partners, where over a ten-year period as Partner he was involved in all areas of the investment process with a particular focus on the implementation of growth strategies, usually involving buy and build execution. Prior to Palamon, Miles spent seven years at HSBC Investment Management within their Specialised Finance team. He began his career in 1984 with Bankers Trust where he focused on management buy-outs.
Peter Taylor, Managing Partner, Duke Street:
“The appointment of someone of Miles’ calibre to the Duke Street team reflects the quality of the Duke Street portfolio and validates our investment strategy and open, participative culture. It also reflects our confidence in our ability to navigate current markets and the quality of the investment opportunities we expect for Duke Street investors over the next couple of years. He joins with a highly successful track record in originating deals and implementing growth strategies. We are very much looking forward to working with Miles to identify and develop high quality businesses.”
Miles Cresswell-Turner, Partner, Duke Street:
“Duke Street has built up an outstanding track record over the last 20 years of creating strong growth within its portfolio businesses. Right now is an exciting time for Private Equity and I look forward to working with the Duke Street team of investment professionals and Operating Partners in continuing to build leading and robust businesses.”
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Notes to Editors:
· Duke Street is a leading independent private equity firm with offices in London and Paris. It was founded in 1988 and focuses on mid-market leveraged buy-outs, investing in established UK and French businesses with enterprise values of up to €500 million. The business has raised six private equity funds to date totaling in excess of €2 billion. The latest fund is DS VI, which closed in 2007 at €960m.
· Duke Street considers all investment opportunities, but particularly focuses on the Consumer & Food, Leisure & Retail, Healthcare, Financial Services, Business Services and Industrial sectors.
Duke Street’s recent activities include;
· Leisure & Retail – Acquisitions of The Original Factory Shop and SandpiperCI. The exit of Sporting Index, Financière Galaxie, the owner of B&B hotels and Esporta, the health & racquet clubs operator.
· Consumer & Food – The acquisition of Brambles Foods, Superior Food Group, Buckingham Foods, Thomas Food Group and Food Partners to form Adelie Food Holdings. The acquisition of Burton’s Food and the exit of Marie Brizard, a leading French drinks company.
· Healthcare – Acquisition of Biomnis, a leading provider of spicalist medical diagnostics, Oasis Healthcare, a leading UK dentistry chain, Proclif, the Paris-based hospital operator; Affinity Healthcare, a leading regional operator of psychiatric hospitals and the exit of Paragon, the provider of specialist care homes
· Financial Services – The acquisition of Xafinity, the Benefits and Consultancy Services Group which was previously a division of Hogg Robinson. The exit of Equity Insurance Group, the motor and personal lines insurer.
· Business Services and Industrial sectors – Acquisition of Deloro Stellite and 2e2, the leading IT services business.