UK private equity house Maven Capital Partners (Maven) has expanded its investment team with the appointment of David Nixon to help manage funds across the North East.
Joining as Investment Manager to source and complete deals on behalf of Maven’s private equity funds, Nixon will also help manage the GBP27 million North East Development Capital Fund (NEDCF), supported by the European Regional Development Fund and the GBP20 million Finance Durham Fund, established by Durham County Council.
Based across Maven’s Newcastle and Durham offices, David will be responsible for new investments across the North East of England. Prior to Maven, he spent 3 years at RG Corporate Finance advising on mid-market deals regionally and nationally. Previously, Nixon spent 12 years at Barclays Corporate and Investment Banking in a variety of roles within credit, portfolio and debt.
Strengthening Maven’s presence across the region, Nixon will work closely with SMEs and high growth businesses to help them evolve and achieve their growth goals. The appointment follows the recent announcement of Maven’s regional funds celebrating the milestone of investing over £9m collectively alongside securing over GBP14 million in private sector leverage. Recent transactions include the GBP7 million investment in electric vehicle specialist, AVID Technology and the backing of innovative ecommerce platform, Aero Commerce.
Maven has significant experience of managing similar initiatives on behalf of the Northern Powerhouse and the Midlands Engine, and since 2009 has invested over GBP340 million in over 180 UK SMEs to support their growth ambitions.
Michael Vassallo, Investment Director of Maven, says: “David is a great new addition to Maven and we are delighted to welcome him to the team as well as strengthen the Maven brand across the North East. We have built a highly skilled team with considerable in-depth knowledge of the local SME market and a range of sector specialist knowledge that is allied to the national resource of Maven’s UK business.”
Nixon says: “Maven has already made a huge impact on the North East investment scene in just over 2 years, offering a range of funding options to dynamic local businesses. I’m delighted to join the team and work with many of the region’s growing businesses that Maven already support as well as providing long-term funding solutions to the increasing number of ambitious, high growth companies operating across the North East.”
