Third partner for Cabot Square

Cabot Square Capital, the London-based mid-market buyout firm, has promoted former executive director Chris Sales to the position of partner.

Chris Sales has become a partner at Cabot Square Capital, the London-based mid-market investor.

Sales, who joined Cabot Square in 1996, the year in which it was formed, becomes the firm’s third partner alongside James Clark and John Van Deventer.

Before launching Cabot Square, Clark and Van Deventer were heads of European structured finance at Lehman Brothers and Goldman Sachs respectively.

Cabot Square is currently investing its Fund II, which closed on €284 million ($366 million) in July 2003, beating a target of €250 million. The firm’s first fund, which was closed in 1999, totalled $300 million.

The latest fund invests in small to medium sized companies across the UK and Western Europe. It has a particular focus on the financial services, hospitality, leisure and outsourcing sectors and aims to make equity investments of between €10 million and €50 million in each deal.