PHD Equity Partners appoints new FD as it prepares to raise third fund
PHD Equity Partners has appointed Richard Evans as its new Finance Director.
Richard joins from the London-based boutique advisory firm Strand Hanson, where he was COO. He.has over 30 years’ experience in banking and finance, having worked at BDO, led Brewin Dolphin’s Manchester corporate finance team for over a decade and been part of an FCA team working on the supervision of overseas investment banks.
Richard’s appointment comes as PHD Equity Partners prepares to start fundraising for its third equity fund. The firm, which has offices in the North West, Leeds and London, raised its maiden £5m private equity fund in 2008 and its first high yield debt fund in 2011. Its second private equity fund reached a final close of £20m in 2015 and is now almost fully invested.
PHD invests from £0.5m to £4m in businesses with a value of up to £10m across all industry sectors and will consider MBOs, BIMBO’s, MBI’s, equity release, buy and build and growth capital opportunities. Portfolio companies include the art supplies business Teaching Art, speciality chemicals manufacturer Technikraft, Canada travel specialists First Class Holidays, hardware products supplier Olympic Fixings and sealants manufacturer Hylomar.
Richard said: “PHD focuses on part of the SME market which is often overlooked by other PE investors. We target established firms that are ready for transformation and an injection of growth that will bring them to the attention of the larger funds. We believe there is huge scope to extend PHD’s reach and attract a wider range of investors.”
Andy Dodd, who leads PHD Equity Partners, said: “In the decade since its launch, PHD Equity Partners has established a track record as a strong and successful mid-market investor. Richard brings a wealth of experience to strengthen the management team as we look to build on our successes so far and take advantage of opportunities in the years ahead.”