Investec eyes UK mid-market

The South African investment banking group has beefed up its private equity coverage with the appointment of Gareth Taylor from Deloitte.

Investec, the joint London and Johannesburg-listed banking group, has sharpened its private equity advisory capabilities in the UK with the appointment of Gareth Taylor as head of financial sponsors coverage.

Gareth Taylor

Taylor, who joined from Deloitte, will mainly focus on deals between £50 million and £400 million (€60 million to €510 million).

Taylor expects it won’t be too long before mid-market activity picks up: “The next few months will continue to be relatively quiet. At the moment the maths doesn’t work in terms of vendors’ expectations and the debt packages available to buyers, but the market will be kick-started when vendors sufficiently adjust their pricing expectations,” he told PEO.

At Deloitte, Taylor advised Deutsche Bahn on its acquisition of Chiltern Railways, Close Brothers Private Equity on its disposal of Fishers and HgCapital on its Public-to-Private of shl Group.