Inflexion prepares for mid-market upturn

The UK mid-market investor has appointed Stelio Stefanou, chief executive of Accord, to its advisory panel.

Inflexion Private Equity, the UK mid-market private equity house, has appointed Stelio Stefanou to the firm’s advisory panel, marking the firm’s third such appointment in less than a year.

Stelio Stefanou is currently the chief executive of Accord plc, a provider of services to the public, private and not-for-profit sectors. The company was de-merged from the John Doyle Group in 1999.

Inflexion joint chief executive John Hartz said the appointment was part of the firm’s efforts to capitalise on an expected increase in public-private partnerships and outsourcing opportunities in the UK. “We see increasingly attractive investment opportunities as a result of the growing collaboration between the private and public sectors.”

Inflexion’s advisory panel comprises Andrew Burns, finance director of Luminar Leisure plc who joined the board in March this year and Geoff Westmore, previously global leader of Transaction Services at PricewaterhouseCoopers, who was appointed in January.

Inflexion has been quiet on the investment front in the last twelve months, although the firm is close to announcing its first investment since July 2001 with a £12m investment in a UK pub management company. According to managing partner Simon Turner, the deal is likely to be the first of several. “We have seen a considerable increase in the number of investment opportunities, which coupled with more realistic valuations makes it a good time to invest.” Turner added that the firm was likely to undertake new fundraising ‘in the near future’.

Recent exits for the firm include the disposal of its interest in Mantra PR, which it sold in February last year. The firm targets buyout and development capital transactions with enterprise values of up to £50m, committing £2m to £10m per transaction.