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Duke Street Capital appoints Paternot

Duke Street Capital, a European mid-market private equity firm, has appointed Thierry Paternot as an operating partner specialising in consumer-facing businesses, drawing on his extensive

Duke Street Capital, a European mid-market private equity firm, has appointed Thierry Paternot as an operating partner specialising in consumer-facing businesses, drawing on his extensive experience in turning around consumer businesses.

Paternot is currently president for Europe of Stanley Tools, a specialist tools company with more than 4,000 employees and 13 factories. He was previously the chief executive of Facom in Paris before its acquisition by Stanley Europe in January 2006.

As head of Facom, Paternot was responsible for the turnaround of the business, boosting operating income from EUR8m in 2003 to EUR57m two years later. He was previously chairman of the German management board of Reemtsma, the world’s fourth largest cigarette manufacturer after spending 22 years at L’Oréal, becoming managing director for Germany, France and southern Europe.

He is a member of the supervisory board of the Franco-German chamber of commerce and non-executive chairman of the holding company that acquired SGD (formerly Saint-Gobain Desjonquères), a leading manufacturer of glass packaging for perfumery and pharmaceuticals.

‘Thierry’s expertise will be invaluable in ensuring we add value at every stage of our deal programme, but particularly during the transformation phase,’ says Duke Street managing partner Fred Chauffier. ‘He has significant knowledge of the consumer sector and of running companies at the highest level.’

Adds Paternot: ‘Duke Street is unique in the way it involves experienced operating partners. It has a high quality portfolio and an excellent track record of adding value to its investments. I look forward to working with the team both on deal origination, and in helping to develop and strengthen existing portfolio companies.’

Duke Street’s recent investments within the consumer sector including Marie Brizard, and more recently Accantia, Adelie Food Holdings and Burtons Foods.

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