European buyout firm Candover has recruited Mark Dickinson as a director from global investment firm 3i.
During his ten years at 3i Dickinson led several buyouts, mainly in the support services, leisure and oil and gas sectors. Dickinson coordinated 3i’s role in the $925 million (€630.7 million) acquisition of oil and gas company Vetco International, alongside Candover and US bank JP Morgan. Vetco was divided in two and sold to GE Capital for $1.9 billion and Ferd Private Equity for $900 million in 2007, generating a return of 4.1 times.
He also headed up the $700 million buyout of Dockwise, the oil and gas rig transportation company, in December 2006. Dockwise was then merged with Sealift and listed on the Oslo stock exchange with an enterprise value of $2 billion in May 2007.
Dickinson is one of a number of people to move since the New Year.
This week Darren Redmayne left UK merchant bank Close Brothers as head of European financial sponsors to set up US bank Lincoln International’s London office. Lower mid-market firm Inflexion also recruited Gareth Healy and Malcolm Coffin as investment director and investment executive from European banks Close Brothers and NM Rothschild & Sons respectively yesterday.
Candover appointed Lord Jay of Ewelme as a non executive director last month.