New Operationally-Led Private Equity Firm bd-capital Launches
Firm founded by Richard Baker, former FTSE CEO and Chairman, and Andy Dawson, former Advent International Investment Partner
LONDON. 12 June 2019 - Richard Baker and Andy Dawson have today announced the formation of bd-capital, a new operationally led private equity firm.
bd-capital will specialise in making control or co-control investments in pan-European mid-market businesses with strong growth potential. The firm’s strategy is to invest in businesses where changing patterns in consumer behaviour and technology disruption are creating growth opportunities. These opportunities will initially be found in carefully targeted subsectors of the consumer products, modern retail, leisure, services and health & wellbeing sectors.
The firm will be supported by former Advent International Managing Director, Ron Sheldon who will join as a Senior Advisor to the bd-capital Investment Advisory Committee.
“We believe that operationally-led growth-focused partnership investing is the best way to achieve consistently strong returns. bd-capital will focus on sub-sectors and opportunities where its operational experience and networks can really help businesses grow and thrive”, said Dawson who is a Co-Founder and Managing Partner.
bd-capital intends to bring a differentiated approach of investing to the European mid-market. At its core is a team structure where business leaders and private equity investors work together in full partnership across sourcing, diligence, execution and value creation activities.
In addition to its team of investment professionals, the firm will work alongside business leaders who will form the bd-capital Operators’ Club; an evolution of the proven and successful Private Equity Operating Partner model and a structure through which Dawson and Baker built a ten-year working relationship.
“I am excited to be forming a new type of private equity team. One where business leaders work alongside investment professionals in partnership to help build great companies”, said Baker who is Co-Founder and Managing Partner.
About the team:
Andy Dawson is a former Partner of Advent International. Dawson joined Advent in 2004, and during his time at the firm led, co-led or participated in seven investments including Poundland, Fat Face, Lululemon, DFS and Williams Lea Tag.
Prior to Advent International, Dawson worked for OC&C Strategy Consultants in London, where he spent time working with a number of corporate and private equity clients covering the Retail, Consumer Goods, Media, Leisure and Technology sectors.
Richard Baker is a former FTSE 100 CEO and Chairman. Until recently, Baker served as Chairman of Whitbread, the British Retail Consortium, DFS, Virgin Active and Nectar, as well as being a Non-Executive Director of the Lawn Tennis Association.
His previous executive roles include Chief Executive Officer of Alliance Boots and Chief Operating Officer at ASDA. Baker started his career at Mars where he spent nine years in various management and directorship roles.
bd-capital is being advised by Houlihan Lokey PFG and Weil, Gotshal & Manges.