HgCapital grows in Germany

The European midmarket specialist firm has announced the appointment of five more staff to its Frankfurt office.

HgCapital, the London-headquartered mid-market private equity firm, has announced five appointments to bolster its German and Benelux business. 

Four of the appointments are newcomers to the firm, who join as associates. German Kai Romberg previously spent four years with the Boston Consulting Group in Vienna, where he worked in the industrial goods, telecommunications and finance sectors. Derk Bleeker, a Dutchman, joins following two years as an M&A analyst with Merrill Lynch Investment Banking in London. Both will be based in London, where they will work on continental deals.

Jorg Spanier joins HgCapital after four years as an investment banker in the financial sponsors group at CitigroupMarcus Chandler, who will work with Hg’s client services and fund raising team, also joins from Merrill Lynch, where he worked as an analyst on the UK equities team before later joining the private equity group. Both join the Frankfurt office.
The fifth appointment is of Philipp Schwalber, who has been a member of Hg's healthcare team since he joined the firm's London office in 2000 but moves to Frankfurt as an associate director. While with the firm he has worked on investments including German mail-order pharmacy business DocMorris, UK care homes group Castlebeck and Dutch clinical trials company Pharma Bio-Research.

In a statement the firm attributed the appointments to the fact that Germany has recently been Europe's fastest growing private equity market and is now its second largest.

Earlier this month HgCapital announced the sale of FTE Automotive, a German clutch-making business, to PAI Partners for €370 million, generating a profit of €145 million.
HgCapital is a midmarket London-based firm that spun out of Merrill Lynch Investment Management in 2000. It has offices in London, Frankfurt and Amsterdam, and works in the UK, Ireland, Germany and the Benelux region. It currently has funds of €1.3 billion under management, and plans to go back to market later this year.