Angel Springs is a leading water cooler service provider.

Investment type
  • Secondary buyout
Exit type
  • Private equity sale
Exit date

December 2014

LDC Team
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For three years, LDC’s Midlands’ team invested considerable time and resource to our business, helping us to meet ambitious operational and acquisitive growth objectives. In short, their support and strategic input was invaluable.”

John Dundon, Managing Director
Angel Springs

State-of-the-art expansion

In 2012, LDC also supported the business’ relocation to a brand new state-of-the-art 10,000 sq. ft building in Wolverhampton.

This expansion and investment in core infrastructure enabled the business to further increase and effectively handle customer orders, whilst significantly improving its commercial facilities.

Angel Springs went on to achieve substantial sales and profit growth, with turnover rising from £14m in 2011 to £20m 2014. Employee numbers also rose considerably during the partnership with LDC, with the business employing more than 200 people in 2014, up from 131 people at the beginning of 2011.

Excellent returns

In 2014, LDC completed the sale of its stake in the business in a multi-million-pound deal with Germany-based private equity provider Castik Capital.

The transaction provided an excellent return for LDC, delivering a money multiple of 3x its original investment in just over three years.

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With LDC’s backing, we consistently invested in the business for the benefit of our customers whilst striving to improve efficiency across our service and delivery models, and this approach has resulted in success on a national scale.”

John Dundon, Managing Director
Angel Springs