UK regional investor Palatine Private Equity has hired former Americana International finance director Steve Donaldson to the new role of head of portfolio.
Donaldson will work closely with the Palatine team in managing their portfolio companies’ organic and acquisitive growth plans.
Donaldson was previously finance director of Card Warehouse, the greeting card retailer backed by Palatine in a £14m buy-out. He played a key role in the sale of the company in May 2003, which generated a 2.5 times return.
More recently Donaldson spent five years as finance director of private equity-backed Americana International, the company behind fashion brands Bench and Hooch.
Revenues at Americana grew from £35m to £80m during his time at the company and he was involved in a number of projects, including a refinancing of the business and the £192m secondary buy-out.
Donaldson spent his early career in practice including more than ten years in corporate finance at both Deloitte and BDO Binder Hamlyn.
“Steve’s industry experience in leading businesses through periods of rapid growth will be a valuable asset for our portfolio companies,” said Gary Tipper, a managing partner at the firm.
“Having known and worked with Steve for almost 30 years, we know that he is the right man to help us support the growth plans of our portfolio.”
The firm recently backed the management buy-out of British IT managed service provider Selection Services, in deal which also includes Cloud Data, a hosting and disaster recovery services business.
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