Steve Koltes, Managing Partner at CVC Capital Partners, passes responsibility for the business in the German-speaking region to two new co-heads: From 1 April 2012 onwards, the long-term CVC partners Marc Strobel and Christian Wildmoser will head the private equity firm's activities in Germany, Austria and Switzerland. Steve Koltes will dedicate more of his time on his role in CVC's global executive bodies going forward.

Marc Strobel and Christian Wildmoser both joined CVC in 2000 and were made partners in 2008. Marc Strobel spearheaded CVC's participation in the energy services provider ista and facilitated the US IPO of the metering technology manufacturer Elster Group in a very challenging market environment. Christian Wildmoser was instrumental in adding Evonik to CVC's portfolio together with Steve Koltes and Marc Strobel. Christian also continues to focus on CVC's portfolio company Flint Group, which emerged from the former printing ink business of BASF and has since developed from number 9 to number 2 globally through strategic acquisitions.

Marc Strobel and Christian Wildmoser will co-head the German, Austrian and Swiss business and they will both continue to work from their current offices in Frankfurt and Zurich respectively.

"I am pleased that with our choice of new co-heads, we will preserve continuity within the firm. Christian Wildmoser, Marc Strobel and I have been working closely together for many years. I am confident that they will do an outstanding job in driving our business forward in the German-speaking region", said Steve Koltes.
Steve Koltes, a founding partner of CVC, has been building and successfully leading the firm's German business for over 20 years while also contributing to the firm's international expansion: since 2000 alone, CVC has grown its employee base from 40 to about 250 globally; assets under management have increased from €4 to €28.7 billion over the same period.

Going forwards, Steve Koltes will dedicate more of his time to his international responsibilities, which include his membership in the five-strong Management Committee and his role as Co-Head of the Private Equity Boards for Europe, North America and Asia. In addition to these cross-border responsibilities he will continue to serve on the supervisory board and all other bodies of Evonik, Elster Group and Flint Group as before.

"The time has come to pass on my responsibility for the German-speaking region. We have found the ideal successors in Marc Strobel and Christian Wildmoser", said Koltes.