CHAMP Private Equity loses director

Paul Wilson has resigned from his position as a director at Sydney-based buyout firm CHAMP Private Equity.

Paul Wilson is one of four directors at the firm reporting to the senior management team of Bill Ferris, Joe Skrzynski and David Jones. He told PEO that he will leave CHAMP by the end of the year, and will then be subject to a 12-month “non-compete, non-poach” clause covering private equity and the healthcare industry.

Attributing his departure to the need for a “a break and a change”, Wilson said he would spend some of his gardening leave working at Sobo, a restaurant he owns on Bondi Beach, as well as at InSCRIPTion, a content generation company for Australian film, theatre and television where he is chairman.

Wilson was latterly involved in a bid for Brambles’ Australian waste management subsidiaries, in which CHAMP bid alongside trade partner Transpacific Industries. The asset was acquired by Kohlberg Kravis Roberts for A$1.83 billion ($1.35 billion) following a controversial auction process that resulted in an investigation being launched by Australian financial regulator ASIC. CHAMP and Transpacific claimed UBS, the financial adviser to the vendor, had led them to believe that they would be invited to a final round of negotiations, which in the event failed to materialise. The investigation is ongoing.

Wilson was a member of the founding team at CHAMP when it was established in 2000, and spent one year at Castle Harlan, the firm’s New York-based affiliate. Before that, he was based in London, where he was responsible for the European private equity investments of Metropolitan Life Insurance Company. His 11 years in private equity also included a prior spell at Ernst & Young in London and Australia where he focused on advisory roles, valuations and raising capital.

CHAMP is adviser to the CHAMP I and II funds, which have capital of approximately A$1.5 billion for investment in buyouts in Australasia. Earlier today, the firm announced that, along with Castle Harlan, it was acquiring Great Western Malting, Canada Malting Company, Barrett Burston Malting and a 60 percent stake in Bairds Malt to create United Malt Holdings, a malt producer with revenues of more than $400 million and operations in the US, Canada, Australia and the UK.