LDC has been backing mid-sized businesses in the North West since the Millennium, investing more than £725m in firms across the region, with our current portfolio supporting more than 3,000 jobs.
The region has delivered many of our most exciting deals and we are confident this will continue. With six new investments, three exits and follow-on funding for our portfolio businesses, it’s been a busy 12 months for LDC in the North West. Here are just three highlights since the start of 2017.
In April, we backed the management buyout of historic Hill Biscuits as the 150-year-old business plans to kick-start a multi-million-pound capital investment programme to expand production capacity and develop new products.
The £20m turnover business is now seeking strategic acquisitions to build further scale and diversity with our support, as well as implementing a new international sales strategy to accelerate growth overseas.
We were impressed by the management team’s ambitious vision for growth and are excited to support an iconic British brand in its success both at home and abroad.
Steven Wetherby, Managing Director of Hill Biscuits, said: “LDC’s experience and track record in the sector made them an ideal fit for us. They also quickly understood our ambition for the business and shared our passion for growth. This unlocks a whole new future for a business with a fantastic history.”
In January, we backed the management buyout at Fishawack, the specialist provider of scientific communications services to the pharmaceutical industry, in a deal that valued the business at £38m.
We committed further funds to support the management team’s buy-and-build strategy, as well as growing current client relationships to support Fishawack’s aim to become the largest independent player serving the growing global medical affairs market.
Just six months after the initial investment Fishawack acquired US-based Carling Group of Companies. With offices in San Diego and London, Carling employs 100 people and specialises in full-service marketing, advertising and physician communications.
Oliver Dennis, CEO of Fishawack, said: “The financial backing and support of our investment partner LDC is enabling us to accelerate our international growth strategy.”
In early January, we backed a multi-million-pound investment in ChargePoint Technology, the specialist valve manufacturer, in a move to accelerate its international expansion.
The Liverpool-based business operates across Europe, Asia and North America, and its patented technology is used by the top 50 global pharmaceutical manufacturers.
Our funding, plus the appointment of pharmaceutical sector veteran Richard Yarwood as non-executive chairman, is supporting ChargePoint’s strategy of capitalising on strong global demand, while investing in new product development and targeted acquisitions.
Chris Eccles, Managing Director of ChargePoint, said: “Bringing LDC on board as an investment partner is a clear statement of intent regarding our future ambitions.
“With the team’s track record in the sector and its in-depth experience of delivering international growth, we’re confident we have the right people in place to help us take our market-leading technology even further afield.”
North West View