Following the firm’s largest European buyout to date, US private equity group Warburg Pincus has announced the appointment of a senior advisor to assist the firm with its plans to expand its European activity.
The firm, which yesterday confirmed that it had up to $5 billion set aside for investment globally, has hired Derek Bonham as a senior advisor. Bonham, currently the chairman of Imperial Tobacco Group, has also served as chairman of Cadbury Schweppes, Newsquest and The Energy Group. His previous roles have also included time as a non-executive director of Marconi and GlaxoSmithKline. From 1973 to 1997, Bonham was deputy chairman and chief executive of Hanson, the industrial management company.
Bonham will be based in the London office and participate in the firm's investment activities in the general industrial and manufacturing sectors.
Dalip Pathak, who heads Warburg Pincus’ European operations, said yesterday that the firm was “actively looking” at a number of other opportunities in Europe as it seeks to significantly increase its European operations.
The firm is currently investing internationally from two funds, Warburg Pincus International Partners, a $2.5 billion fund, and Warburg Pincus Private Equity VIII, a $5.3 billion fund. Together, the funds provide one of the largest pools of private equity capital available in Europe.
Yesterday the firm announced the acquisition of Candover’s majority interest in Clondalkin, the Irish packaging and printing group in a deal valuing the company at €630 million ($784 million). The deal marks the firm’s largest European investment to date.