Terra Firma doubles staff pay pot to £35m

Terra Firma paid £35.4 million in wages to its staff in 2013, up from £17.1 million in 2012.

The private equity investment firm’s Directors’ report and accounts for the year ended 31 March 2013 showed that the increase was directly related to an increase in activity and revenues for the period, from £29.2 million for the year ended 31 March 2012 to £52.7 million for the year ended 31 March 2013.

It also increased pay packages for its executive directors, from £1.96 million to £5.6 million.

Its chief executive, Tim Pryce, saw his pay nearly treble in the period between March 2012 and March 2013, from £750,000 to £2.7 million.

A spokesperson for Terra Firma said: “These increases were driven by increased activity during the period. 

“This includes Terra Firma being positioned at the top of the leveraged buyout league tables by value, top of the half-year league table by value, and the acquisitions of Four Seasons Healthcare, The Garden Centre Group and Deutsche Annington.    

“All in all, it was a very busy period for the employees of Terra Firma. Wages and salaries rose as a result, from just over £17 million to just over £35 million.”