GB Palladin Capital targets retail sector

17 November 2003

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Alan Taylor, former chief executive of the UK's GUS Home Shopping division, has been appointed managing director of GB Palladin Capital's operations in London. He is currently building up a team, which will make equity investments of E5-30m in expansion capital and turnaround situations in the retail sector; it will also partner on specialist due diligence and co-investment with the retail divisions of other leading private equity houses. Using the asset valuation capabilities within parent Gordon Brothers, Palladin can also provide mezzanine funding and asset-backed loans. Taylor boasts 25 years experience within the sector across Europe and has held board positions at firms including Argos Retail, Arcadia and Safeway. He comments that the new unit will typically look for companies with strong brand equity and good distribution but that have made tactical errors; he is confident of the company's ability to add value in the retail sector and is currently looking at several opportunities. Once the offering has proved successful, the group expects to be able to access GB Palladin Capital's US funds, allowing it to triple the size of transactions it can undertake. The unit operates out of Gordon Brothers' office in Piccadilly.