Silverfleet augments Munich deal team

The Prudential spin-out has hired former Terra Firma analyst Klaus Maurer.

European mid-market firm Silverfleet Capital has hired Klaus Maurer, bringing to six the number of investment professionals on its Munich-based team.

Klaus was previously an analyst in Terra Firma’s Frankfurt office, prior to which he worked in leverage finance at Société General and BHF-Bank.

Silverfleet was formerly known as PPM Capital, but rebranded following its spin-out from Prudential in November 2007. The firm has has 25 investment professionals across its offices in London, Paris, Munich and Chicago.

Maurer’s hire underlines Silverfleets’s commitment to and the importance of the German mid-size buyout market, managing partner Neil MacDougall said in a statement.

The sale of vehicle component manufacturer Jost in August 2008 to Cinven marked Silverfleet’s second recent exit of a German company, he added.

The firm said the Jost deal resulted in an internal rate of return of 47 percent and a 3.1x return multiple on its original investment, while its first German exit, the sale of BST Safety Textiles in 2006, achieved a 72 percent IRR and a 2.1x multiple.