Silverfleet

About Silverfleet

Silverfleet Capital is one of Europe's longest-tenured mid-market private equity firms with approximately €2.1 billion of assets under management as of December 2024, headquartered in London with offices in Paris, Munich and Stockholm. The firm originated in 1985 as PPM Capital, the private equity arm of Prudential plc, before becoming independent through the 2007 management buyout and rebranding as Silverfleet. The firm operates as a partner-owned LLP (Silverfleet Capital Partners LLP) with a 30 plus year buy-and-build track record. Fund III fundraise was paused in 2021, with current focus on follow-on investments and portfolio realisations.

Investment thesis

Silverfleet deploys capital through approximately eight funds across the franchise (including legacy PPM Capital funds and European Development Fund I and II), targeting mid-market buy-and-build and international-growth strategies for European mid-cap businesses with enterprise values between €75 million and €500 million. Sector focus spans healthcare, business and technology services, consumer and manufacturing (including specialty industrials). Geographic deployment spans UK, France, German-speaking Europe (DACH), Benelux and Nordics, plus US targets with substantial European presence.

Recent activity

Recent realised exits include industrial components and manufacturing (February 2024) and retail technology and software (May 2024). New platform activity has been limited since the Fund III pause in 2021, with the platform focusing on portfolio follow-ons, bolt-ons and value-creation activity. Detailed buyer names and multiple data available on Pro at €49/month.