Gresham appoints new Investment Director for Manchester office

Gresham, the regionally based mid-market private equity firm, today announces the appointment of Andy Marsh as Investment Director based in Gresham's Manchester office.

Andy was previously a director at AMP Henderson Private Equity in Sydney, Australia. In this role he was involved in a range of deals including the development capital investment in Vision Group, a successful Australian ophthalmic day surgery roll-up and worked on the £27m public to private transaction deal of the hair care brand Sabre Group, which has operations in Australia and the North-West of England.

Andy's roots are in the North West at NatWest bank before becoming Associate Director for NatWest Equity Partners in its Manchester office. While at NWEP, Andy worked on a number of deals, including a £14m development capital deal with NES Group, and an investment in software company Datel Ferranti, which valued the company at £22m; this deal was successfully exited two years later. Andy then moved to Australia to continue his career in private equity.

Simon Inchley, Director, with responsibility for Gresham's regional offices said: "We are very happy to announce Andy's appointment to Gresham's Manchester office. Andy has a proven track record of successful transactions within the private equity sector and his commitment and experience will strengthen Gresham's Manchester office. Andy's expertise and knowledge of the North-West region will be invaluable in helping Gresham to continue to generate quality investments in the Northern region.

"Our most recent survey of UK mid-market companies, the Gresham Monitor, published in July 2003, indicated that 57% of companies in the North expect to undertake corporate activity in the year to July 2004. Andy's appointment will enable us to take full advantage of the anticipated increased deal activity in the North-West throughout next year."

Andy Marsh commented: "I am delighted to be joining Gresham's successful and committed team of professionals at an exciting time in the firm's development. I'm very much looking forward to further developing Gresham's regional presence in the North and to building on the successful investment track record of the office."

Gresham's Manchester office opened in 2001 and, earlier this year, led the £24.5m management buy-out of Altair Filter Technology, the gas turbine filter specialist. This followed the £12m management buy-out of Drakes Group, the UK's leading enforcement group.