BD-Capital appoints Advent's Grimmelt as head of Benelux

Prior to joining BD-Capital, Grimmelt was head of Advent International in the Benelux region. During his 14 years at Advent, he worked from the firm's Amsterdam, London and Luxembourg offices, and was involved in seven investments, including Delft Instruments, Nucletron, Mediq, Unit4 and Ammeraal Beltech. He was a non-executive member of the board of three portfolio companies.

Grimmelt previously worked at Waterland Private Equity, in the firm's Netherlands-based office, where he led deals in several sectors including healthcare, consumer, services, software and industrials. Prior to this, he started his career at Merrill Lynch in London, working in the European leveraged finance team.

BD-Capital is a private equity specialist investing in mid-market businesses. It was established in June 2019 by Richard Baker (former CEO and chair of FTSE), and Andy Dawson (former Advent International Investment partner).

The firm launched its debut fund with a target of €400m in July 2019. The vehicle invests in pan-European mid-market businesses where changing patterns of consumer behaviour and technology disruption are creating growth opportunities. It plans to make 8-10 controlling or co-controlling investments, writing equity tickets of €25-150m with an average size of €50m. 

Since its launch, BD-Capital's team has grown to 17 people, six of whom are former CEOs with experience of growing businesses in the European mid-market space. 

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