Lincoln International, a US mid-market investment bank, has opened a London office, recruiting Darren Redmayne as managing director and chief executive to head its drive into Europe.
Redmayne has left Close Brothers, the UK merchant bank, where he was head of European financial sponsors. He is the latest in a swathe of departing executives including Fenton Burgin, a founder of the bank’s debt advisory business, Gareth Healy, head of IPO advisory, and Andrew Merrett, a director of special situations.
Close Brothers is the subject of a joint bid by UK broker Cenkos and Icelandic financial group Landsbanki.
Redmayne will have day-to-day control of Lincoln’s London operations. He said: “With more than 100 current assignments, including more than on the 75 sell-side, we have substantial international mid-market deal flow.”
He will be joined by Robert Satow, managing director. Redmayne and Satow worked together at Close Brothers from 1998 to 2004. Satow joined Lincoln International in 2004 and has worked in North America with a primary focus on cross-border transactions.
The combination Lincoln hopes will mean the London office will effectively integrate with the rest of the firm from the outset, taking the firm closer to its global goal. To further aid integration, Jim Lawson, co-chairman of Lincoln International, will spend one week per month in London indefinitely.
Lincoln now has seven offices in London, Chicago, Frankfurt, Los Angeles, New York, Paris and Vienna. Hans Peter Peters, also co-chairman of Lincoln International, is based in Frankfurt and will also be actively involved in the firm’s London activities.
Since 2006, 35 percent of Lincoln International’s transactions have been cross-border, in which the target and acquirer were located in different countries.
The London team will focus on providing M&A advice to private equity funds and companies throughout the UK, particularly in industrial, electronics, chemicals, automotive, building products and consumer industries. The primary focus will be on transactions from £25 million to £250 million.
The London office starts with an initial team of eight, including four London-based hires in addition to professionals transferred from Chicago, Frankfurt and New York. The team includes Michael Bottenheim as advisory director. Bottenheim has acted as advisor to European and US companies in cross-border M&A for the last 35 years, including nine years at Citicorp and 15 years at Lazard.