Dunedin, the UK mid-market private equity house, has further strengthened its team with two appointments: Karan Darroch has taken the role of Financial Controller and Andrew Davidson has joined as an Analyst. This follows a period of significant activity for Dunedin, which recently closed its £300 million Dunedin Buyout Fund III and was named ‘Small Buyout House of the Year’ at the British Private Equity Awards 2013.
Karan was previously at KPMG in the role of Senior Manager and is responsible for fund reporting and portfolio monitoring at Dunedin. Andrew joins from PwC where he was a Senior Associate in the Business Recovery Services department and will assume responsibility for sourcing deals across the UK.
Shaun Middleton, managing partner at Dunedin said: “Karan and Andrew have joined Dunedin at an exciting time for the business. Over the last twelve months we have been very active. We recently completed a successful £300 million fund raise significantly in excess of our target. We made two investments in rapid succession – the £34.5 million management buyout of Premier Hytemp in December and then the £43 million buyout of Trustmarque Solutions in June. We also completed two exits in this period - etc.venues and Practice Plan, which realised money multiples for Dunedin of 3.2x and 2.8x respectively.
“With our new fund in place, we are ready to invest in UK headquartered businesses with a market leading position in their niche, and have a full pipeline of interesting opportunities to explore. These appointments demonstrate our commitment to developing our team so as to capitalise on these investment opportunities, to continue to provide hands on support to our portfolio and to provide our investors with a first rate service.”