Andy Marsh, who was previously a director at AMP Henderson in Sydney, Australia, has joined Gresham as an investment director.
While at AMP, Marsh was involved in a development capital investment in Vision Group, an Australian ophthalmic day surgery roll-up, and also worked on the £27m public-to-private of Sabre Group, the hair care company.
Before joining AMP, Marsh spent time in Manchester with NatWest bank and as associate director at NatWest Equity Partners (NWEP). While at NWEP, Marsh worked on a £14m development capital deal at NES Group and a small investment in software company Datel Ferranti.
Said Simon Inchley, Gresham director with responsibility for the firm’s regional offices: “Our most recent survey of UK mid-market companies, published in July 2003, indicated that 57 per cent of companies in the North expect to undertake corporate activity in the year to July 2004. Andy’s appointment will enable us to take full advantage of the anticipated increased deal activity in the North West throughout next year.”
Gresham, which also has offices in London and Birmingham, opened its Manchester office in 2001. The office has led the £12m management buyout of Drakes Group, the enforcement group, and the £24.5m buyout of Altair Filter Technology, a gas turbine filter specialist.
Gresham is currently raising its Gresham III fund, which it launched in May 2003 with a target of up to £250m. The fund is its first since gaining independence, though former parent Zurich Financial is a £75m cornerstone investor. The fund will target businesses with an enterprise value of between £5m and £75m.