Texas Pacific hires Raymond Sharpe

The US private equity firm has announced the appointment of Raymond Sharpe, chief executive of electronics at the Cookson Group, the engineering concern.

Texas Pacific Group, the US private equity firm, has hired Raymond Sharpe, chief executive of the electronics division at Cookson, the global engineering and material technology company, according to a report in The Financial Times.

55-year-old Sharpe worked at Cookson for 20 years, becoming an executive director in 1995 and has agreed to work with the company for a short period as required. In 2003, the electronics division generated sales of £604 million ($985 million) representing 37 percent of Cookson Group sales.

According to the Financial Times, it is understood that Sharpe is being brought in to head up Isola, a German electronics company that designs and produces materials for use in printed circuit boards. Isola was recently acquired by Texas Pacific for an undisclosed sum. Texas Pacific declined to comment on Sharpe's role until he joins the firm.

Texas Pacific currently manages more than €13 billion in assets, including the $5.3 billion Fund IV it closed earlier this year.

In the US, the group acquired Iasis Healthcare from JLL Partners earlier this month for $1.4 billion. In April, it teamed up with Silver Lake Partners to buy the Sniffer assets from software company Network Associates for $275 million.