Gimv hires Germany head, makes exec committee changes

Ellie Pullen
20 November 2014

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Gimv has appointed Sven Oleownik as country head for Germany, and announced changes to its executive committee.

Oleownik will work at the firm's Munich office and will be responsible for expanding Gimv's operations in the German market, as well as developing institutional relations in the country. He joins from Deloitte, where he was a managing director for the firm's corporate finance practice.

Gimv has also announced that chief of funding Marc Vercruysse, located in the Belgium office, is to step down from the firm's executive committee at the end of the financial year, so that he can focus more on further development of Gimv's fund activities.

Benoît Raillard has joined Gimv's executive committee as operating partner. He most recently worked in the Paris office of advisory firm AlixPartners and has previously held management positions at Elis, 5àsec, Bain & Co, Eli Lilly and BNP Paribas.

In its interim report, Gimv has reported that NAV is up by 4.9% and its first-half profits sit at €48.5m. From 1 April 2014 to 30 September, the firm's new investment figure totalled €28.4m on its balance sheet, with this increasing to €44.5m including additional investments made by Gimv-managed funds.

Last week, the firm acquired EcoChem, a Belgian producer of eco-friendly flame retardants. This followed the acquisition of Europlasma, a Belgian developer of vacuum plasma treatment equipment, alongside fellow Belgian GP Yukon at the end of October.

Total divestment revenues on Gimv's balance sheet reached €138.3m, with this increasing to €156.9m including additional revenue from divestments by co-investment funds. Divestments for the firm collectively realised a multiple of 1.7x original acquisition value.