28 November 2007
Silverfleet Capital, the mid-market private equity firm, completes management buyout from M&G, the fund management arm of Prudential plc.
Silverfleet Capital Partners LLP today announces it has completed the acquisition of the business of Silverfleet Capital, the mid-market private equity firm, from M&G, the fund management arm of Prudential plc. As part of the buyout, Silverfleet Capital Partners LLP will continue to manage the current portfolio of companies. Further terms of the transaction have not been disclosed.
Silverfleet Capital Partners LLP is a partnership comprising the 15 senior members of the Silverfleet management team and is led by Neil MacDougall, Managing Partner. Silverfleet has established an excellent track record of successful investments over the last twenty years. Since 1990, Silverfleet has invested in 105 mid-market companies mainly in the retail, leisure, healthcare, business and financial services sectors. Silverfleet has in particular generated strong investment returns from Buy & Build transactions such as Astron, Barracuda and Phadia.
Silverfleet is currently invested in 12 UK and European companies which have a combined EBITDA of approximately £265 million.
Commenting on the transaction, Neil MacDougall, Managing Partner of Silverfleet Capital Partners LLP, said:
"We are delighted to announce the successful buyout of Silverfleet Capital. We will continue to manage the current portfolio on behalf of the UK Life Fund of Prudential who have also agreed to invest in any new transactions. Our focus now is to extend our excellent track record of successful buy and build investments across Europe and further develop Silverfleet as a top tier mid-market investment house."