Risk Capital Partners, the entrepreneurial private equity firm founded by Luke Johnson, has appointed Michael Simmonds as a partner.
Michael brings with him more than sixteen years experience working with mid-market companies, initially as a corporate finance adviser at PricewaterhouseCoopers before commencing his private equity career with Lloyds Development Capital where he completed seven investments in six years. He joins RCP from Bowmark Capital Partners where he has been a partner for the last four years.
His previous investments include the successful buyouts of comdirect, the online share dealing company and Spearhead, a trade exhibitions group. Most recently he led the buyout of Datix, a leading risk-management software business in the healthcare sector.
Risk Capital Partner Luke Johnson commented, “This appointment marks a significant step in the expansion of our investment team following the recent closing of our first institutional fund, totalling £75 million. Michael brings a range of valuable and complementary contacts, which are ideally suited to our criteria of making initial equity investments of between £3 million and £10 million. We see market conditions as favourable for making attractive investments and the addition of Mike will allow us to capitalise on this opportunity.”
Michael Simmonds says “I am delighted to be joining Risk Capital Partners: their flexible and supportive approach is well suited to securing growth investment opportunities, particularly in the current economic environment. Their entrepreneurial experience is a real point of differentiation in the mid-market and a point of resonance with ambitious management teams. I look forward to helping the RCP team build on its successful investing track record over the coming years.”