Cinven strengthens France, Germany

The UK-based private equity firm has announced the appointment of investment executives for the firm’s Paris and Frankfurt offices.

European private equity firm Cinven has announced a brace of appointments at its European offices, continuing its strategy of sourcing European deal activity from local offices.

 

The firm has appointed Thierry Célestin and Bruno Schick as investment executives at Cinven’s French and German offices resepectively.

 

Célestin joins the firm’s Paris office from the UK corporate finance office at Lazard, where he focused on transactions in the media sector. Among others transactions, Célestin was involved in the contested offer for Tempus Group by Havas Advertising and WPP Group, the merger between Granada Group and Compass and the IPO of Granada Media.

 

Schick joins Cinven’s Frankfurt office, also as an investment director.  Schick is the former CEO of Surplex AG, a provider of asset recovery services based in Germany, which he co-founded in 1999. Prior to this he spent three years in the investment banking division at Goldman Sachs where he completed a number of M&A and corporate finance transactions in the German-speaking region.

 

“We are delighted to welcome both individuals to the team,” said Robin Hall, managing director at Cinven. “We place considerable emphasis on European activity and recognise the importance of building a strong team of local specialists in each of our offices.” 

 

Much of Cinven’s deal activity has been sourced in Continental Europe since the firm closed its third buyout fund at E4.4bn last July. The firm teamed with Candover to acquire Kluwer Academic Publishers from its Dutch parent, multinational information services company Wolters Kluwer, for a total enterprise value of E600m last October. In May the two firms teamed up a second time to acquire rival academic publisher BertelsmannSpringer from German group Bertelsmann for E1.05bn.

 

The firm’s recent deal making in France involved two exits where Cinven sold its remaining stake in Générale de Santé. It also completed, alongside PAI partners and Astorg Partners, the disposal of French building materials producer Frans Bonhomme to Apax Partners for E520m.