Nova Capital Management, an acquirer of corporate and private equity portfolios, has opened its North American headquarters in Chicago and hired David Jacobs to support the company’s business growth in North America as an Investment Partner.
In September 2012, Nova completed the acquisition of five industrial businesses in the U.S. — all of the operating subsidiaries of Latshaw Enterprises — in a single transaction. In August 2011, Nova completed the acquisition of five industrial businesses in Canada.
“We’re continuing to see increased opportunities for purchasing a diverse mix of business assets from corporate and private sellers (portfolios) in a single transaction,” said David Williamson, Managing Partner of Nova. “Many companies are coming to appreciate the option of selling an entire portfolio rather than having to sell individual assets piecemeal. The routine approach is more costly, distracting to management, destabilizing, and fraught with execution risk. We deliver a complete solution to corporate and private sellers for the sale of multiple assets in one single transaction. We have closed several complex transactions in multiple jurisdictions, and we see significant opportunities through applying our unique approach in the North American market.”
With the addition of Mr. Jacobs, Nova now employs four professionals based in North America to serve the needs of its clients, including Investment Partner Kath Jones and Operating Partner Dennis Powers.
“I’m looking forward to the challenges and opportunities associated with coming on board at a time when there is an obvious need for Nova’s capability,” said Mr. Jacobs. Some of Mr. Jacobs’ previous financial and advisory services to clients include work with MolsonCoors and SABMiller in creating MillerCoors, the sale of Nabisco Holdings to Philip Morris, the sale of Snapple to Cadbury Schweppes and the acquisition of Slim-Fast and Ben & Jerry’s by Unilever. Mr. Jacobs’ investment banking career included years at Morgan Stanley, where he was a Managing Director, and at Deutsche Bank, where he was Vice Chairman. For over 25 years, he has provided strategic, financial advisory services to clients in the Consumer, Retail and Business Services sectors around the world. He headed global groups in these sectors at both Morgan Stanley and Deutsche Bank. He received an MBA from the Wharton School in 1988 and graduated with a BS in Economics from Wharton in 1984.
“I am delighted to have David join our team in Chicago. His investment banking background and extensive contacts will help to further fuel our growth strategy in North America,” said Jan Kreminski, Nova’s US-based Operating Partner.
Established in 2002, and with a 20+ strong team, Nova Capital Management has acquired or taken over the management of portfolios representing a total transactional value of some $1.5 billion. The firm currently manages investments in 29 businesses primarily operating in Western Europe and North America, across a broad range of sectors. Nova Capital Management has offices in London, Chicago and Toronto (www.nova-cap.com).
“The transatlantic nature of our firm provides us with strong capabilities to serve North American and international clients as well as our portfolio companies who may have assets in multiple geographic locations,” said Mr. Kreminski. “Our unique operating model of teaming Operating and Investment Partners together on each transaction helps us evaluate acquisitions across varied industries and geographies, allowing us to partner with management teams to accelerate growth and deliver strong investment returns through genuine value creation. The addition of David Jacobs’ experience will significantly expand our depth and breadth of industry knowledge and experience.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-31-13