DLJ strengthens European media team

Credit Suisse’s private equity division has made three hires, including former Carlton Television CEO Nigel Walmsley and ex-Emap veteran Tim Schoonmaker.

DLJ Merchant Banking, the middle market private equity arm of Credit Suisse, has appointed Tim Schoonmaker, Nigel Walmsley and Rupert Shaw as industry partners to bolster its European media activities.
 
The team will work in London alongside Colin Taylor, managing director and head of DLJ Merchant Banking Europe, to originate media-related private equity investments in the UK and consumer and business-to-business media investments in the whole of Europe. Taylor took full control of DLJ Merchant Banking’s European operations when former co-head Susan Schnabel moved last October to set up the firm’s Los Angeles office.
 
Schoonmaker, 48, is a 17-year veteran of UK media group Emap, during which time he has been managing director of an Emap-owned local newspaper company; founder and CEO of Emap Radio, Emap Performance, Emap Advertising and a member of the executive board.
 
Since his time at Emap, Schoonmaker became CEO of Odeon Cinemas and oversaw the firm’s sale to London-based private equity firm Terra Firma Capital Partners in August 2004.
 
Walmsley, 64, is a former managing director of Capital Radio Group, where he led the company’s flotation in 1987, before becoming CEO of Carlton Television. He then became chairman of Carlton Media Group, now part of ITV. He is currently chairman of Broadcasters’ Audience Research Board (BARB) and Eagle Rock Entertainment, a music rights and content company backed by European mid-market investor HgCapital.
 
Walmsley has also been vice chairman of the Advertising Association, vice president of the Royal Television Society and chairman of GMTV.
 
Shaw, 31, who began his career with Donaldson, Lufkin & Jenrette, has spent the last five years at GMT Communications Partners, where he was responsible for deal origination, investment execution, portfolio monitoring, exits and general marketing.
 
In the media sector, DLJ Merchant Banking’s most recent forays include the $3 billion (€2.5 billion) buyout of Metro Goldwyn Mayer’s film library and the $900 million acquisition of trade media group Advanstar. The firm has also invested in Thompson Publishing, Visant and WRC Media.
 
The firm is understood to be targeting $2 billion for its fourth fund, substantially below the $5.3 billion raised for Fund III. In addition to London and Los Angeles, the firm also has offices in New York and Buenos Aires.