Phoenix grows management committee

UK mid-market private equity firm Phoenix Equity Partners has appointed partners David Burns and Richard Daw to the firm’s management committee.

The committee, which manages the day to day workings of Phoenix, is currently comprised of founding members, Hugh Lenon, Sandy Muirhead, James Thomas and David Gregson.

Burns leads Phoenix’s consumer, leisure and retail sector investment activity. He has been a private equity investor in the UK for the last 10 years, prior to which he spent five years in leveraged finance at NatWest bank.

Daw joined Phoenix in 2001 and is currently leading its business services and transport sector investment activity. Prior to joining the firm he spent eight years in the corporate finance group of Dresdner Kleinwort Benson, before spending three years at British Airways.

Burns is a director of four portfolio companies including hotel chain Expotel, shoe maker LK Bennett, sports brand Musto and Thai restaurant chain Busaba Eathai. The management buyout of Expotel took place in October last year in a £38 million (€403 million;$522 million) transaction. LK Bennet, was acquired last July for up to £100 million.

Daw holds directorships at freight carrying firm, Palletways; chilled food transporter, NFT Distribution and supplier of food; and essentials deliverer to offshore oil and gas platfoms, ASCO.

Phoenix, which targets mid-market buyouts of up to £200 million, is owned by its executive team and manages more than £900 million in funds.