3i’s Nolan to take responsibility for UK buyouts

Ian Nolan, a managing director in 3i’s European buyouts arm, will take over responsibilities for the UK buyout operations of the London-listed investor.

Global private equity firm 3i has appointed European buyouts managing director Ian Nolan to oversee its UK buyout operations.
 
Nolan will take over from Nick Badman, managing director in the UK buyouts team, who has been with 3i for the past 17 years and will be leaving the firm later this year.
 
“We are committed to providing a seamless cross-border approach across various industry sectors throughout Europe,” said Jonathan Russell, managing partner and global head of buyouts at 3i, in a release. “Over the last five years, we have built a truly international mid-market buyout business, leveraging off our global network and our considerable resource. Ian’s part in developing the UK business into a truly international one makes this a perfect role for him.”
 
Nolan began his career at 3i in 1987 in Manchester before moving to the London office as a director in the buyouts team in 1995. In 1998, he returned to Manchester as managing director of 3i’s business in the North West of England, assuming responsibility for the whole of the North of England and Scotland.
 
In 2004, Nolan returned to London as a managing director within 3i’s European buyouts team.
 
Most recently, Nolan worked on the €480 million ($583 million) sale of German pharmaceuticals business betapharm Arzneimittel to India’s Dr Reddy Laboratories.
 
The appointment caps a busy week for 3i. The firm has agreed to acquire the entire share capital of Gamesa Energia y Servicios (GES), the wind farm construction arm of Spain’s Corporacion Tecnologica Gamesa, which has an enterprise value of €170 million.
 
The firm has also divested 40 percent of its shares in the 13.2 times oversubscribed IPO of Berlin-based international multimedia software provider Magix on the Frankfurt Stock Exchange. 3i said that it will make a 3.7x multiple on its original 2000 investment of €10 million and will retain an 11.2 percent shareholding in Magix.