Electra hires Apax veteran Alex Fortescue

Fortescue’s hiring comes amid a busy March for Electra, which completed two acquisitions worth £69m.

Electra Partners has hired former Apax Partners veteran Alex Fortescue as chief investment partner.

Fortescue will start in the position on 1 April and be responsible for “strengthening” the deal origination and investment process at Electra.

Electra, which is listed on the London Stock Exchange, raised £100 million in a bond issue in December, giving the firm “£400 million of deal capacity in the mid-sized sector”, the firm said in a statement.

Fortescue will work alongside Electra’s managing partner Hugh Mumford and deputy managing partners David Symondson and Tim Syder, the firm said. Fortescue spent 10 years at Apax Partners, most recently as global head of the firm’s retail and consumer group.

Electra completed two investments in March – the firm spent £26 million to acquire fine arts supplier Daler-Rowney and £43 million to acquire heating and hot water specialist Sentinel Performance Solutions.