Mid-market UK private equity firm Bowmark Capital has followed its £375m fund close by promoting four team members.
Paraag Davé, Tom Shelford and David Torbet have all been made partners role, while existing senior partner Mark Salter has joined the firm’s management committee.
Bowmark said the significant internal reorganisation coincided with the beginning of the investment period for Bowmark Capital Partners V, which closed on its hard cap in December.
The firm said it planned to tap the fund to back growth-oriented service companies with enterprise values of up to £100m.
Salter has been with Bowmark for 12 years, leading a number of its successful investments in the healthcare, leisure and business services sectors such as Kisimul, School Travel Group and Leaders Lettings.
Davé and Shelford joined Bowmark in 2008, two years after Torbet was hired by the firm.
Bowmark has committed more than £120m of equity to five new companies since the start of 2013, while its portfolio companies have completed more than 20 bolt-on acquisitions.
Joint managing partner Charles Ind said, “We are delighted to announce Mark’s promotion, and to welcome Paraag, Tom and David to the partnership.
“They will further strengthen our management team as we embark on the investment programme for Bowmark Capital Partners V.”
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