CVC Capital Partners has hired Thomas Kichler as partner and US head of industrials and energy, a newly-created position, according to the firm.
Kichler, who joins CVC’s Chicago office, was previously a managing director at Orb Equity Partners. Before that, he was partner and managing director at One Equity Partners for 13 years. He had also been at Salomon/Citigroup CIB, Wasserstein Perella and Ernst & Young, according to a statement.
CVC has formed this new role within the firm amid oil prices that have been plunging since late 2014. As of 7 January, the West Texas Intermediate crude oil price had fallen to a 52-week low of $32.10 per barrel, 49 percent below the 52-week high of $65.50 per barrel. Most recently, in June, CVC partnered with The Carlyle Group to fund an investment vehicle called Neptune Oil & Gas, which will invest in large oil and gas portfolios resulting from the current energy market conditions.
CVC spokeswoman told Private Equity International that Kichler will be sourcing deals and making investments in his new position.
“His wealth of industry expertise will be of great value to CVC and we look forward to working with Tom to further develop our presence in the industrials and oil & gas markets,” Christopher Stadler, managing partner of CVC's US business, said in a statement.
Kichler sits on the board of several companies in the oil and energy sector, including Dubai-based Polarcus and LBC Tank Terminals. He has also led transactions with companies such as Progress Rail, Columbian Chemicals, Sonneborn Refined Products and PeroxyChem, the statement said.