Fidelity Equity Partners Hires Ian Blasco as Partner
10-Year Bain Capital Veteran Will Focus On Growth Buyout Opportunities In Technology, Communications, and Business Services
Boston, June 04, 2008 Fidelity Equity Partners, which invests private equity in high-growth, mid-sized companies in North America and Europe, today announced the appointment of Ian Blasco as Partner.
Based in the firm’s Boston office, Blasco will help lead Fidelity Equity Partners’ investment initiatives in the technology, communications, and business services sectors. He will seek to expand the firm’s portfolio focusing on companies valued between US$50 million - $150 million (£25 million - £75 million) which grow organically at more than 10 percent per year.
Since Fidelity Equity Partners closed its first $500 million fund in early 2007, the firm has opened offices in Boston and London, and assembled a team of seasoned private equity professionals. Blasco joins existing partners Rob Ketterson, Brooke Ablon and Gray Hall in Boston, and Nick Martin and Sebastian McKinlay in London. Fidelity Equity Partners recently completed its third investment in the fund, Complinet, a leading provider of online regulatory solutions for the global financial services industry.
“Having started his career as a consultant, Ian has proven experience in understanding complex business issues and then helping companies to solve those issues and grow,” said Brooke Ablon, partner, Fidelity Equity Partners. “This experience, combined with his investment track record while at Bain, will be tremendous assets in helping the firm not only to identify new investment opportunities but also to leverage the considerable resources at our disposal to help our portfolio companies accelerate their growth and become market leaders.”
Prior to joining Fidelity Equity Partners, Blasco was a Principal at Bain Capital where he worked from 1998 to 2008. While at Bain, Blasco focused on investments in technology, media, and consumer retail. He helped lead successful investments in OSI Restaurant Partners, Sensata Technologies, Advertising Directory Solutions, Unigraphics PLM, Bombardier Recreational Products and MCI Communications. Prior to joining Bain Capital, Blasco was a consultant at Bain & Company where he focused on advising clients in the retail, software, and technology sectors.
“With the addition of Ian, we have assembled a team that, collectively, has completed nearly 100 private equity deals,” said Ablon. “As we build our firm, Fidelity Equity Partners will continue to look for mid-sized businesses across a variety of sectors that create competitive advantage and drive growth through the application of innovative, technology -enabled business models focused on alleviating critical issues facing their customers or opening new market opportunities for them. We are confident that this strategic focus, combined with our extensive global resources, uniquely positions us to help businesses achieve organic growth rates that are much greater than the 10 percent baseline we look for in an investment.”
About Fidelity Equity Partners
Fidelity Equity Partners is an international private equity firm focused on helping high-growth, mid-sized, services-based companies fully exploit their competitive advantage. The fund looks for opportunities where its partners’ individual expertise, culture of entrepreneurship, and access to unique resources within the global family of Fidelity businesses can accelerate a company’s growth rate, profitability and overall market leadership. Fidelity Equity Partners raised its initial $500 million fund in 2007. For more information, visit www.fidelityequitypartners.com.