Vestar shores up European operations

The New York headquartered private equity firm has appointed Mario Cesari as an executive director in its Paris office.

Vestar Capital Partners, the US private equity firm specialising in mid-market buyouts, has announced a new hire to its six-strong Paris office.

Mario Cesari joins the firm as executive director from US private equity firm Berkshire Partners. He was previously a management consultant with McKinsey & Co in France and Switzerland.

In a statement, Cesari said: “I have been impressed with Vestar’s unique approach to entering the European private equity market, building local teams in key continental markets.”

Since mid-2002, Vestar has completed four acquisitions in Europe, acquiring Italian industrial metals company Zanussi Metallurgica and Swedish brake systems firm SAB Wabco in 2002.

In 2003, Vestar acquired Italian automotive fluid maker FL Selenia, followed by French funeral group OGF at the start of this year.

The firm is currently investing from its fourth vehicle, the $2.5 billion (€2 billion) Vestar Capital Partners IV Fund.

Since its foundation in 1988, Vestar has completed 45 investments with a total valuation in the region of $15 billion. With approximately $4 billion of funds under management, the firm also has offices in Denver, Colorado and Milan.