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Bowmark Capital boosts team

The UK mid-market firm has strengthened its team, as it continues to invest its latest fund raised this year.

Bowmark Capital, a UK mid-market buyout firm, has promoted Mark Salter to senior partner and recruited Paraag Davé as an investment manager.

Salter has worked for 14 years in corporate finance and private equity, specialising in the healthcare and leisure sectors. He joined Bowmark from Bank Austria in 2001, after helping to establish and develop its UK private equity activities.

His investments at Bowmark include: the Education and Adventure Travel Group, a school holiday group; Kisimul, a residential care provider bought in 2006; and The Regard Partnership, another residential care provider. The latter was exited after three years in 2007, generating a return of 3.4 times and an internal rate of return of 77 percent.

Davé began his career at Monitor Company, a consultancy firm, and went on to work at Excel, a B2B logistics provider, where he became a solutions and development director in the automotive sector. He was most recently an associate at Paradigm Global, a start-up private equity firm.

Bowmark closed its latest fund on £265 million (€336 million; $519 million) in January. It bought Healthcare Homes, a residential care provider, from August Equity for £75 million last month.