Montagu received the award after demonstrating the ability to execute both new deals and generate successful exits despite the challenging market conditions. An example of this was the £1.7 billion take private of Biffa Plc, a leading UK waste management company in April 2008. Montagu identified the business through its knowledge of the waste sector and had been tracking it for several years. This transaction was, at the time, the largest UK deal in 2008 and involved more than £1 billion of debt sourced in highly challenging credit markets.

Whilst Montagu's nomination was originally for 'Mid-market Buyout House of the Year' the judges felt that 'Large Buyout House of the Year' was more appropriate as Montagu "managed to do deals in the large space (Biffa) while doing it with the mid-market flair that it has become successful for"

Heidi Duckworth, a director of Montagu commented: "We are delighted to receive this award. It is a tribute to all who worked on the Biffa transaction with us and it is also a fitting tribute to Montagu Private Equity's continued excellence, in this, its 40th anniversary year".

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