Peter Wilson has joined US-based global buyout firm Warburg Pincus after a nine-year spell at Electra Partners, where he was a director and a co-founder of the Electra European Fund.
Describing Electra as “a great firm”, Wilson insisted positive motives lay behind the move. In an interview with PEO, he said: “Warburg Pincus is one of the best established private equity franchises globally. It has gone through a succession successfully, which is a task that one or two other firms still have to confront.”
Wilson joins as managing director and becomes part of a six-strong London-based European buyout group headed by Steve Coates. Coates was hired by Warburg Pincus from Permira two years ago to build a European buyout franchise. One of the team’s most notable deals since came when it acquired Irish packaging group Clondalkin from Candover in a €630 million secondary buyout in March 2004.
Wilson may be joining the Warburg Pincus partnership at an opportune time. Various reports have suggested the firm is currently raising a new $8 billion global fund, though the firm has declined officially to confirm these reports.
While at Electra, Wilson headed the industrial sector team and was also active in business support services investments. In December 1998, Wilson co-led with Robert Clarke the £110 million buyout of Safety-Kleen Europe, a cleaning equipment supplier that was sold on to JP Morgan Partners for £280 million in July 2004 – delivering more than four times equity invested.
Prior to his time at Electra, Wilson was a consultant with the Boston Consulting Group.
Electra, which is understood to be seeking to raise a new €1.25 billion fund, is headed by managing director Nigel McConnell. The firm was not immediately available for comment on Wilson’s departure.