European private equity provider Candover Investments has announced the appointment of Brian Mercer from TMT specialist Broadview International. Mercer will join the board of Candover Partners Limited and will primarily focus on buyouts in the technology services sector.
In his 12 years at Broadview International, Mercer co-founded Broadview’s European business in 1989 and was responsible for developing the firm’s activities throughout Europe. Broadview enjoyed success in M&A and investment banking during the tech boom although the sector's decline has impacted on the company's recent performance.
Prior to joining Broadview, Mercer spent eight years in global M&A. He describes his previous experiences as the ideal combination for the beginning of his 'third career'. 'These are exciting times to be joining Candover. We will be looking to develop our emphasis on IT and technology services, building on the success of recent investments such as Druid Group and Detica.' Candover is currently raising a new fund, The Candover 2001 Fund, which has raised E1.8bn to date and is targeted to close at E2.5bn.
Commenting on the appointment, Colin Buffin, Candover Managing Director, said Mercer’s experience and network of contacts would help Candover to identify and complete some attractive technology transactions over the coming years.
Mercer's appointment takes the number of buyout executives at the firm to 18.