Sovereign Capital, the independent UK mid-market private equity provider, has appointed Dominic Dalli as an assistant director. He joins the firm from Deloitte & Touche Corporate Finance, where he was responsible for developing practice’s healthcare sector team.
Dominic's appointment follows that of Simon Hitchcock, also an assistant director, who joined the firm last month after a spell at Dilmun Investments. The two appointments come at a time when Sovereign is looking to accelerate the investment of its £120m third fund, which closed earlier this year.
The firm has to date invested around £10m from Sovereign Capital LP III, which closed earlier this year on £120m. Recent transactions from the fund include the institutional purchase of UK private education businesses, Davies Laing & Dick and the MBO of healthcare services company, Community Homes of Intensive Care and Education (CHOICE).
According to Dominic Dalli, the firm is hoping to complete additional transactions before the end of the year. “We are currently examining a number of healthcare and education opportunities, two of the fund’s key sectors. We are also looking at a number of possible targets for CHOICE, which was acquired very much as a buy-and-build opportunity.”
Dalli added that in addition to education and healthcare, Sovereign is also targeting investments across other service industries, including outsourcing, support services and facilities management. It usually targets mid-market UK companies requiring £2m to £15m of equity.