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Dr Hans-Joachim Körber appointed to Board of Advisors of Palamon Capital Partners

Mid-market private equity firm Palamon Capital Partners has appointed Dr Hans-Joachim Körber to its Board of Advisors. 

Dr Körber has had a long and highly distinguished business career including serving as the former President and CEO of METRO AG, one of the largest retailers in the world.  He is currently on a number of international boards, including the Boards of Air Berlin PLC and Esprit Holdings Limited on which he is Chairman. In his early career Dr Körber held several senior management positions within the R.A. Oetker Group focusing on IT, logistics, communications and retail.  He joined Metro SB Großmärkte in 1985 and worked for a number of different group companies in Germany and abroad.  With the formation of METRO AG in 1996, Dr Körber joined its Management Board, serving as President and CEO from 1999 to 2007.
 
Dr Körber will join Palamon’s long established and experienced Board of Advisors, which provides counsel to the Firm and contributes its expertise and insights with respect to target investment markets and business sectors relevant to Palamon’s focus.  Dr Körber first worked with Palamon on the board of Loyalty Partner, where Metro was a minority shareholder during Palamon’s ownership of the company between 2005 and 2011.
 
Michael Hoffman, Chairman of Palamon Capital Partners, says: “We are delighted to welcome Dr Körber to Palamon’s Board of Advisors as he brings a wealth of management experience and insights into the German market where we are active investors.  We very much look forward to working with him over the coming years.”
 
Körber says: “I have known the team at Palamon for a number of years following our collaboration on the board of Loyalty Partner.  The Firm’s investment strategy, which focuses on growth service sector companies across Europe, is of particular interest to me and I am therefore delighted to be invited to join the Firm’s Board of Advisors.”
 
The addition of Dr Körber to the Palamon Board of Advisors builds on another highly successful year for the Firm.  During 2011, Palamon portfolio companies continued to perform extraordinarily well achieving 20% weighted average growth in revenue.  Palamon continued executing on its strategy of investing in growth businesses across Europe concluding investments in OberScharrer, Germany’s leading ophthalmological group, EnGrande, a leading European on-line budget accommodation booking agent and QualitySolicitors, a UK network of high-street law firms.  The Firm also generated realisation proceeds of EUR435 million during the year, at an overall return of 2.4x invested capital.

 

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