Private equity veteran Jon Moulton has made a significant hire for his latest buyout firm, which he set up after he resigned from Alchemy Partners two months ago.

Nick Sanders is joining Better Capital to be head of portfolio operations. It comes as Moulton has said he has already begun the search for new deals. Last month, Sanders became chief executive of Deloro Stellite, A Duke Street Capital-backed company, after a short stint as interim chief executive at the UK manufacturer. However, Moulton said he will now gradually withdraw from that role.