1 April 2019

OpCapita appoints Frank Maassen as Operating Partner
OpCapita LLP ("OpCapita"), the European private equity partnership specialising in the operational improvement of businesses in the retail, consumer and leisure industries, today announced the appointment of Frank Maassen as its newest Operating Partner. The appointment is effective 2nd September 2019.
Frank is a highly experienced executive who has held senior roles at a number of the continent's largest businesses. Frank joins OpCapita's high-calibre team of in-house operating partners, who have decades of experience working in consumer-facing businesses. The team adopts a hands-on approach to evaluating new investments and delivering operational improvements to the firm's portfolio companies. OpCapita's focus on operational discipline is a key differentiator, and one that the firm seeks to apply to all its investments to grow revenues and profitability.

Frank's appointment builds on an existing relationship with OpCapita - he served as CEO of OpCapita's former portfolio company BUT, the French furniture and electricals retailer, between 2013 and 2018. OpCapita successfully sold BUT to an Austrian strategic investor and funds advised by Clayton, Dubilier & Rice in November 2016.

Frank, 53, previously worked for the Huennebeck Group, the German-headquartered building equipment supplier, first as CEO of the French business and subsequently as Group CEO, between 1997 and 2006. After a successful sale of the Group to an American strategic investor, Frank formed Sun Capital Partners' operations team in Europe and served as an operating partner until 2013.

Henry Jackson, founder and Chief Executive of OpCapita, said: "We are delighted to welcome Frank to our team. We know him well, going back to our ownership of BUT, so we have first-hand experience of the knowledge and insights he brings us. I am sure he will prove an invaluable addition, and our investors will benefit hugely from his many years in both operational management and private equity."

Frank Maassen said: "I have admired OpCapita for several years, having worked closely with Henry and the team during my time at BUT, and look forward to renewing our relationship. The firm has such a strong understanding and insight into its core sectors of retail, consumer and leisure, and I am committed to enhancing that for the benefit of the firm and its investors."

The appointment follows a busy period for OpCapita. It recently agreed to sell value fashion retailer NKD to TDR Capital, following a successful turnaround of the business. With OpCapita's support, NKD was restored from a heavily loss-making enterprise at the time of investment to one generating significant earnings. OpCapita has also announced its first investment in the US, agreeing to acquire a majority stake in maurices, a specialty retailer focused on women's value apparel.

OpCapita is currently investing its Consumer Opportunities Fund II. As well as maurices, businesses in which it is invested include The Football Pools, the UK gaming company; Rossopomodoro, an Italian restaurant operator; and Merkal, the Spanish footwear retailer.

For further information, please contact:

Greenbrook Communications
Andrew Honnor/Matthew Goodman/James Madsen
Tel: +44 207 952 2000
Email: opcapita@greenbrookpr.com