Endless snaps up Deloitte director

The UK turnaround firm has hired Sanjiv Padmanabhan as a portfolio director as it continues to deploy its £525m fourth fund.

Leeds-based turnaround specialist Endless has hired a new portfolio director in its London office, according to a statement from the firm.

Sanjiv Padmanabhan joins the firm from Deloitte, where he was a director in the operational due diligence team within transaction services.

At Endless, Padmanabhan will work with the management teams of portfolio companies to help identify operational improvement opportunities.

The hire comes as the firm continues to deploy its fourth fund, which held a first and final close on £525 million (€664 million; $823 million) in December 2014 after just four months in market.

Recent acquisitions by the firm and its portfolio companies include UK vehicle converters O&H Conversions Group, bakery business Bright Blue Foods, mailing services company Polestar Applied Solutions, and business marketing and communication services business Banner Managed Communication.

In May Endless appointed John Stout as a director in its London office to help the firm deploy the £100 million set aside in Fund IV for acquiring and providing debt. Stout joined from Lloyds Banking Group, where he was a director in the leveraged finance restructuring team.