RJD Partners (RJD), a middle market private equity firm, has announced four promotions within in its investment team. Alex Hay (pictured) and Frank Bulman are both promoted to Partner, Jill Williams is promoted to Investment Director, and Richard Court to Investment Manager.
The promotions follow a busy second half of 2010, which saw RJD complete two new investments and achieve the first realisation from its second fund, RJD Private Equity Fund II, with the sale of Teaching Personnel in July.
Hay joined RJD from Close Brothers Corporate Finance in January 2007. He completed the management buyout of Chemigraphic Limited, one of the UK’s largest independent full service electronic manufacturing solutions providers, in December 2010. Hay has portfolio responsibility for RJD’s investments in licensed bedding company Character World; Raphael Healthcare, a provider of gender specific specialist mental health services; and Senturion, the specialist fleet outsourcing business. Previously Alex has been involved with RJD’s successful exit of Cardsave and the refinancing of portfolio company Equidebt. Hay qualified as a chartered accountant with PricewaterhouseCoopers.
Bulman joined RJD in March 2007. Frank completed the management buy-in of Verdant Leisure, a holiday park business based in South East Scotland, in September 2010 and the recent realisation of Teaching Personnel, the specialist teacher recruitment business, having been involved with the secondary buy-out of this business in 2007. He is also involved with a number of RJD’s other investments, including Comtec, a leading provider of software and services to the travel sector. Bulman joined RJD from Livingstone Partners where he led and closed a wide range of private company transactions and prior to this, he spent three years at Close Brothers Corporate Finance.
Williams joined RJD Partners in October 2007 from PwC Corporate Finance, where she completed a number of deals as a buy-side adviser to private equity, in a variety of sectors including leisure and specialist distribution. At RJD, Williams has worked on the management buy-outs of Chemigraphic and Stone Group, an IT provider to the public sector, and is involved with portfolio companies Ipes, a leading provider of outsourced fund administration services, and ISG Technology, a leading provider of IT network services.
Court joined RJD Partners in February 2010 and has worked on the management buy-in of Verdant Leisure. Prior to joining RJD, Court was an Associate in the Securitised & Principal Finance group at Dresdner Kleinwort Investment Bank. His role included structuring and negotiating debt and equity packages for a variety of significant transactions. He has experience across a variety of sectors including leisure, financial services, healthcare and industrials.
David MacLellan, Chairman, RJD Partners, says: "We are delighted to announce these promotions which follow a busy and productive year for RJD. Alex, Frank, Jill and Richard have all made significant contributions, both to the deals that we completed in 2010 and across the existing portfolio. Their specialist sector focus and deal experience has enabled us to develop further RJD’s knowledge and understanding of the services and leisure sectors, and we look forward to benefiting from their expertise in the years ahead.”
