Sovereign Capital builds investment team

Mid-market player Sovereign Capital has appointed two investment managers for its UK fund.

UK mid-market private equity firm Sovereign Capital has announced a brace of appointments for its investment management team.

 

The firm, which last week led a £22m buyout of Honormead Schools, has hired Mike Foley and Jim Kottler as investment managers. Foley joins the business from Ernst & Young, where he most recently worked on healthcare transactions, one of Sovereign’s focus areas, advising a number of private equity providers on both investments and exits.

 

Kottler joins from Royal Bank Private Equity where he worked on transactions including the merger of Ambion Brick and Chelwood Group. He was previously with PricewaterhouseCoopers where he advised on private equity transactions.

 

Both will be involved in working on new investments. In addition to the acquisition of Honormead Schools Limited, a UK group of residential schools for children with special educational needs, the firm has completed deals including the £5.7m management buyout of Complete Personal Assistance, a UK provider of specialist care for young severely disabled people and the £25m institutional purchase of the education business, Davies Laing & Dick.

 

In addition to healthcare and education, Sovereign Capital, which closed its Sovereign Capital Limited Partnership III fund on £120m last April, also targets outsourcing, support services, facilities management and waste/environmental opportunities. It targets UK companies requiring £2-15m of equity.