CVC Recruits Former Evonik Finance Chief Colberg as Deal AdviserAndrew Noel
CVC Capital Partners Ltd. said it has appointed Wolfgang Colberg, a former finance chief at German chemical maker Evonik Industries AG, to advise on strategy and deals in Germany and Switzerland.
Colberg will support CVC’s offices in Frankfurt and Zurich in his role of strategic adviser, the buyout firm said in a release today. CVC owns a 17.9 percent stake in Essen, Germany-based Evonik.
The 53-year-old, with a Ph.D in economic and social sciences, is the latest chemical-company executive to take up a role in private equity. In April, Advent International Corp. hired Gunter von Au, a former CEO of Sued Chemie, after the catalyst maker was acquired by Clariant AG for about $2.7 billion.
“After having worked in major corporates for decades, I am excited to bring my experience to the table on the investors’ side,” Colberg said in the statement.
Other executives hired by CVC as advisers include Jeffrey Keefer, who spent 35 years at DuPont Co.