In 2008 LDC backed a £27million management buyout investing £8.6million for a majority stake which allowed a number of the business’ partners to release the value of their shares.
Following the investment, LDC worked with the management team to implement a professionalisation of the business, introducing a traditional corporate management structure and more efficient IT systems and administration processes across the business’ regional offices, increasing the speed and quality of its claims management services for clients and policyholders.
The company grew operating profit (EBIT) from approximately £3.5million (2008) to £8.4million (2011), and created 200 jobs during LDC’s investment period.
In September 2011 through a management-led secondary buyout backed by Electra Partners, LDC exited the business.
LDC has been a very supportive investment partner over the last three years and has played a key role in helping to drive operational improvement and our financial performance. They have continued to provide the right mix of challenge and support and we greatly appreciate the positive impact they've had on the business.CEO, Davies Group