Mark Owen steps down from NBGI

Investment directors Richard Babington and Lawrence Deane are to take over Owen's role at the firm. 

Owen is to take a break from the industry and go travelling, ahead of fresh challenges in the New Year, he said in a statement. He helped co-found the firm in 2000 and has almost 20 years of experience in private equity.

The investment company has increased its focus on food, support services and healthcare this year through the appointment of several senior advisers.

In early May, former Allied Healthcare CEO Sandy Young was appointed senior adviser at NBGI. A few weeks later, Tim Kelly, who previously worked for Hovis, Coca-Cola Enterprises and Guinness Bass Import, also came on board as a senior adviser.

The advisers support deal origination, strategic direction and exits across the three sectors, but will not formally join the boards of individual portfolio companies.

The GP's most recent exit saw the firm achieve a 4x money multiple on the sale of recruitment outsourcing firm Ochre House to Pinstripe, a US-based business backed by Accel and KKR. The transaction was the last investment in which Owen was directly involved from acquisition through to divestment. 

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