THG and NCC stalker Kelso hires expert in ‘executing successful campaigns’
Activist investor Kelso, the cash shell stalking THG and now NCC group, has appointed Sarah Rajani, an experienced corporate raider, to its board.
As well as THG, which Kelso has been stalking since January 2023, yesterday the investor made a move on Manchester-headquartered cyber security specialist NCC Group.
As reported on TheBusinessDesk.com, John Goold, chief executive of Kelso, said: “NCC is a special company on the UK stock market with two distinct businesses. There is an experienced management team assembled and we support them to deliver shareholder value.”
Currently vice president of investor relations and communications at OCI Global, the global producer and distributor of hydrogen-based products, Rajani was previously, director of communications at Elliott Advisors, known as one of the most aggressive corporate takeover investors globally, having built stakes in mining giant BHP, big pharma company GlaxoSmithKline as well as property firm Hammerson and brewer turned hotelier Whitbread, owner of Premier Inn and attempted to work an angle on Manchester United Football Club.
She’s also held roles at Actis, the global investor in sustainable infrastructure, and Apax Partners, the global private equity advisory firm, as well as five years in-house at retailers New Look and Samsonite.
Kelso chairman Sir Nigel Knowles said: “Sarah’s background in strategic and shareholder communications and her strong understanding of the complexities involved in creating and executing successful campaigns will be invaluable in helping the Board make informed decisions that will drive Kelso’s long-term success. Kelso will greatly benefit from her perspectives and knowledge as we look to build upon its early success.”
Sarah Rajani commented: “I am pleased to be appointed to the Kelso Board and look forward to working with Sir Nigel and his executive team in contributing to Kelso’s long-term growth and creating value for all its stakeholders.”
Kelso was established in 2022 to identify, engage and unlock trapped value in the UK stock market.
Its chairman is former DLA partner Sir Nigel Knowles, now the chief executive of listed law firm DWF.
According to the placement document issued earlier this month investors in Kelso include high profile entrepreneurs such as Luke Johnson, Nigel Wray and Umar Kamani.
Kelso’s strategy is to “invest in situations where there is an anomaly between the intrinsic value and prospects of a company and its stock market valuation”.
Kelso will, in particular, look for situations where it believes the sum of the parts of a business is greater than the current value.
In the case of THG it has advocated a break-up of the food related business to extract value.
