News Room
19 April 2007
Aberdeen Asset Managers Growth Capital and Portfolio teams expand
Aberdeen Asset Managers Growth Capital and Portfolio teams (‘Aberdeen’ or ‘AAMGC’) today announce three appointments: Andrew Symmonds joins as a Portfolio Manager within the Portfolio Management team; Atul Devani joins as a Consultant to the South East Growth Capital team and Kimberley Martin joins as a Trainee Investment Manager. All three will be based in Aberdeen’s London office.
Andrew Symmonds will take over the management of the portfolio of private company investments in the South of England which will include a number of investments from the recently acquired Guinness Flight fund. Andrew will be responsible for monitoring and supporting the development of these investments through to their eventual exits.
Andrew Symmonds spent the first six years of his career at PricewaterhouseCoopers (‘PwC’) working in audit and transaction services. Since leaving PwC, Andrew has performed a number of finance director roles in various industry sectors and, more recently, interim management roles principally with underperforming or distressed businesses.
Atul Devani will focus on new investment opportunities involving smaller UK companies requiring up to £4 million of equity finance, including MBOs/MBIs, expansion capital, replacement capital and acquisition finance. He joins the other members of the South East team at Aberdeen, Neil MacFadyen, Stella Panu and Kimberley Martin, who cover the South East of England from the London office.
Atul is an experienced entrepreneur with a wide level of experience of creating and running businesses in e-commerce, mobile communications, systems integration, to hardware/software technology companies in the finance and telecommunications marketplace. He was a founding director of United Clearing plc, which became one of the world’s leading mobile telephone Financial Clearing and Settlement Services businesses in just less than 5 years. AAMGC backed the company in 2004 when it was listed on AiM in 2004. Atul is currently CEO of BSG's Wireless division, which acquired United Clearing in 2006 for £25m.
Kimberley Martin will support Stella Panu in the management, administration and reporting within our AiM portfolio which is now approaching almost 70 companies. Kimberley previously worked at Shell Gas where she was in their Graduate Training Programme. Kimberley has a Business Management Degree from Kings College in London.
Bill Nixon, Head of the Growth Capital team at Aberdeen, commented on the appointments:
"We are delighted to have Andrew, Atul and Kimberley on board. They join us at an exciting time where we are developing and expanding our operations and investment activities in the South of England. Over the last two years we have seen significant increase in the volume of new deals completed, and have also successfully exited a number of older transactions. During that time our VCT funds have performed strongly and these new appointments seek to build on our recent achievements in a key region where we have been under represented in the past. The market for both private equity and new AiM transactions remains strong, and we hope our increased London resource will be able to take full advantage of these buoyant market
conditions”
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