Bowmark Capital, the UK lower mid-market private equity firm, has appointed Mike Simmonds as a director. Simmonds has spent the last six years as part of the investment team at UK mid-market focused Lloyds Development Capital (LDC).
While at LDC, Simmonds worked on the £12 million (€17 million; $23 million) MBO of Spearhead Exhibitions, the £12 million MBO of stockbroker Comdirect and the £14 million MBO of specialist manufacturer Kee Klamps. Prior to joining LDC, he was an assistant director in the corporate finance department at PricewaterhouseCoopers.
Last May, Bowmark appointed Duncan Calum and Toby Wyles – veterans of Bridgepoint and Apax Partners respectively – as directors. Simmonds’ appointment brings the number of investment professionals at the firm to nine.
Previously known as Sagitta Private Equity, the firm gained independence from former parent company Sagitta Asset Management last year and changed its name to Bowmark Capital in January 2005.
The firm closed its third fund on £105 million in February 2004 and targets buyouts, buy-ins, roll-outs, build-ups and expansion financing in the business services, leisure, healthcare, media and IT sectors. To date it has made investments in more than 60 businesses.