US mid-market firm HIG Capital continues its European push with the hire of Olivier Boyadjian, formerly head of investments for French private equity firm CDC Capital Investissement.
Boyadjian will head the Paris office of HIG Europe, an affiliate of the US firm that was effectively born following the close of HIG’s first European fund. That fund closed last July on €600 million, and around the same time HIG Europe opened an office in London. Shortly thereafter it opened offices in Paris and Hamburg, saying it planned to recruit more than 30 investment professionals in Europe by the end of 2007.
Sami Mnaymneh, an HIG co-founder now based in London, said in a statement that Boyadjian is “an experienced and highly regarded professional with an in-depth understanding of private equity in France. We are excited to have him head our team in France and expand our presence and efforts in Europe.”
Boyadjian expressed enthusiasm for his new role, and said he anticipates “a significant amount of activity for us in the French market”.
The firm’s most recent deal in the country completed last March, when it acquired Diam Europe, a French manufacturer of high-end display fixtures, as part of the restructuring of Diam’s parent company.
Prior to Boyadjian’s hire, HIG’s Paris office was led by Patrick Caron, previously with Bank of America Capital Europe. He remains a part of the firm’s European team, which now comprises more than 35 investment professionals.
HIG Europe targets small and mid-size companies with values of up to €200 million. Its strategy encompasses buyouts, growth equity and distressed/special situations investments.