The Manchester office of LDC is set to invest up to £100m this year after deploying over £80m of capital in 2015.
LDC’s local team has been responsible for some of the North’s standout private equity transactions of the last twelve months, having backed the secondary buyout of Manchester-based Synexus, supported the management buyout of Warrington-based Mini-Cam and invested in iconic crisp brand Seabrook, together with supporting three bolt on acquisitions for portfolio company Inprova Group.
Led by directors Jonathan Bell and Ged Gould, LDC also generated exit proceeds of more than £80m after completing a number of divestments from its portfolio, including the sale of oil and gas engineering firm Bifold Group to Rotork plc and Entertainment Magpie to NVM Private Equity.
The deals were completed as LDC celebrated its 15th anniversary in the region and pledged to invest up to £300m of equity capital mid-sized businesses from across the North West over the next three years. The funding commitment, part of LDC’s plan to invest £1.2bn in the UK’s Mittelstand by 2018, will help more management teams access the capital, strategic guidance and operational support needed to achieve scale both domestically and internationally.
LDC’s portfolio in the region now comprises of 12 businesses with a combined turnover of £486m and supports more than 6,670 jobs. The portfolio also includes Haydock-based supplier of high security vehicle barrier systems ATG Access and Warrington-based procurement services firm Inprova Group.
Jonathan Bell, director and co-head of LDC in the North West, said: “We celebrated our 15th anniversary last year in the region and, with the team supporting some of the North’s most ambitious businesses in achieving their growth plans, the past 12 months have been particularly memorable.
“There has been a real uplift in confidence among mid-market businesses, with management teams in the region already making plans to invest in their own operations and capitalise on more positive trading conditions. “With such a spring in its step and in the face of uncertainty over Europe and global markets, it is clear that the North West is now reaping the benefits of a strong private equity community. With so much talent and capital to hand ready to offer support, we expect 2016 to be another promising year for the regional economy.”