Jarvis’ Lovell to join Terra Firma

Alan Lovell, chief executive officer of Jarvis, a UK support services business, is joining Terra Firma Capital Partners, the private equity firm founded and run by Guy Hands.

According to media reports over the weekend, Lovell was approached by a number of private equity firms but has opted to join Hands’ operation and will head up a division of portfolio company, Waste Recycling Group. 

Jarvis confirmed today that Lovell will step down as chief executive at the end of June and will be succeeded by current chief operating office Richard Entwistle.

Lovell joined Jarvis in October 2004 to restructure the company’s rail, plant and roads businesses. At the time of his appointment, Lovell indicated that he would resign once the restructuring and a planned relocation of the company’s headquarters to York was completed.

At Terra Firma, Lovell is understood to be examining whether the Waste Recycling division, which specialises in converting waste into energy and has yet to be given a name, should attempt a listing or be sold.

Terra Firma bought UK landfill operator Waste Recycling Group for £530.9 million in June 2003. Since then, the firm has returned €327 million to limited partners following a refinancing.

Terra Firma declined to comment.

Lovell follows a number of other senior executives to make the move from industry to private equity recently, including former BBC director general Lord John Birt, who joined Terra Firma as an adviser in December 2005.

In addition, Simon Laffin, former group finance and property director at Safeway, joined CVC Capital Partners as an adviser last September; in April, DLJ Merchant Banking hired ex-Emap veteran Tim Schoonmaker and former Carlton Television CEO Nigel Walmsley as industry partners to bolster its European media activities.

In the US, TowerBrook Capital Partners, a New York-based Soros Private Equity spinout, poached Gap executive Andrew Rolfe in February, signalling the firm’s push into the retail space.