Investindustrial hires Karangelen as senior principal

Karangelen will join the GP's New York office from TowerBrook Capital Partners, where he worked as managing director leading the firm's financial services and communication and media branch.

Prior to this role, Karangelen worked with Brera Capital and Solberg Capital Partners, as well as Advanced Telecommunications and BAB Robins. He started his career in the M&A departments of Goldman Sachs and SG Warburg across both London and New York. Karangelen's predecessor, John Mowinckel, will relocate to Investindustrial's European offices to support development activities for the GP's local assets, after having headed the New York office for six years.

The appointment follows the GP's expansion strategy for its US headquarter, which foresees the hire of an associate in the near term. Early this year, the private equity house also appointed Carlo Privitera as a principal in the New York office. Through the appointments, the GP aims to boost the presence of its portfolio companies across the US market.

According to a statement, the North American market is of strategic interest for many of Investindustrial's portfolio companies, which aims to pursue several add-on as well as build-up operations across this market during the following years. Specifically, the GP expects on the one hand to deploy one-or-two small-cap add-on transactions for Fund V portfolio companies including Sergio Rossi, B&B Italia, Goldcar, Flos and Aston Martin in the short term. On the other hand, it aims to complete three-to-five smaller add-ons and one larger transaction for its remaining portfolio companies.

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