Silverfleet Capital has appointed Karl Eidem as co-head of the Nordic region. Previously, Eidem worked at Swedish national pension fund AP6 where he served as an investment director.
3rd April 2017
Silverfleet Capital (“Silverfleet”) is pleased to announce the appointment of Karl Eidem as Co-Head of the Nordic Region. Karl will work closely with Gareth Whiley, Partner who currently heads the region to further develop the firm’s capabilities and help to build on Silverfleet’s successful track record in Scandinavia, where the firm has made three investments and achieved one exit since 2013.
Karl joins Silverfleet from Swedish national pension fund AP6, where he was an Investment Director overseeing the development of an international investment programme through mid to large cap private equity firms and co-investments. Prior to that, he was a Senior Principal at Doughty Hanson in Stockholm and London, responsible for origination of Nordic investments. Previously he was a Partner at Nordic investment bank ABG Sundal Collier and an Investment Banking Director in the Nordic and Industrial team at Lehman Brothers International. Karl began his career as a management consultant with Accenture in Stockholm.
Karl has an MBA from Kellogg Graduate School of Management, Northwestern University in the US. He graduated with an MSc in Psychology from the University of Stockholm.
Neil MacDougall, Managing Partner at Silverfleet Capital, commented: “We are delighted to welcome Karl to Silverfleet. He brings valuable experience to our team and will play an important role as we continue to build up our presence in the Nordic Region.”
Commenting on his appointment, Karl said: “I have admired Silverfleet’s success in executing its buy-to-build investment strategy for many years and am excited to be joining the firm. I look forward to working with Gareth and the team to build on the firm’s first class reputation in the Nordic Region.”
Since 2004, 23% of Silverfleet’s new investments by capital have been in companies with headquarters in the Nordic region. In 2016 Silverfleet sold Cimbria, a Danish-headquartered manufacturer of equipment and processing lines for seed and grain, to AGCO Corporation for approximately €310 million. Existing Nordic investments include Copenhagen-headquartered Phase One, the leading provider of open-platform, high-end camera systems and solutions, and Masai, a Danish womenswear clothing brand.
About Silverfleet Capital:
Silverfleet Capital has been an active European mid-market private equity investor for more than 30 years. The investment team of 25 executives is based in offices in London, Munich and Paris and currently manages around €1.2 billion. Silverfleet Capital’s second independent fund closed in 2015 with commitments of €870 million. Since its close, the fund has completed investments in: The Masai Clothing Company, a Danish headquartered wholesaler and retailer of women’s fashion; Coventya, a French headquartered specialty chemicals business; Sigma Components, a UK precision components manufacturer focusing on the aerospace industry, and UK apprenticeship provider Lifetime Training.
Silverfleet Capital seeks to create value through its “buy-to-build” investment strategy. This means working closely with companies to accelerate their growth through investment in new products, production capacity or people, or through rolling out successful retail formats or through making follow-on acquisitions. Since 2004, Silverfleet Capital has invested €1.6 billion in 24 companies that have completed 72 acquisitions and opened in 196 locations.
Silverfleet Capital invests primarily in four sectors: business and financial services; healthcare; manufacturing; and retail, leisure and consumer goods. Since 2004, 28% of new investments by capital invested have been in companies with headquarters in the DACH region, 30% based in the UK and Ireland, 23% in the Nordic Region and 19% in France, the Benelux region and elsewhere in the world.
Silverfleet Capital has a consistently strong investment track record. Most recently, Silverfleet Capital has divested: Cimbria, a Danish agricultural manufacturer1; Kalle, a German artificial casings manufacturer (3.5x cost); OFFICE, the UK shoe retailer (3.4x cost); and Aesica, a leading pharmaceutical CDMO business (3.3x cost).
(1) Money multiple not disclosed for legal reasons.
To find out more: www.silverfleetcapital.com