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DEALS IN BRIEF

LDC has been backing diverse, ambitious, mid-sized businesses in the South West and Wales for almost a decade.

Last year we consolidated our position in the region with the launch of our Cardiff office, making LDC the only mid-market private equity firm with an on-the-ground presence in Wales.

Amberon, one of the UK’s leading providers of traffic management services, secured a £25million funding package from LDC and HSBC in July 2017, as part of a management buyout to fund further expansion.

Headquartered in Devon, Amberon’s offering spans a wide range of traffic management and safety solutions to support planned and emergency repairs.

The business generated £26million of sales in its last financial year, and the deal will help further accelerate its growth outside of the South West of England and Wales as it looks to grow its UK footprint and launch new complementary services.

“This is an important moment for the company. We’ve always had an ambition to continue to scale the business and provide greater geographical reach for our clients. Bringing LDC on board gives us the capital and confidence to continue our journey and build on the hard work over the last decade that has made Amberon such a reliable partner in the sector.”

Terry Musson, Managing Director, Amberon

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In June 2016, LDC backed the management buyout of Cheltenham-based ADEY, Europe’s largest water treatment manufacturer serving the domestic and commercial heating sectors.

Currently supplying its products in the UK and mainland Europe, LDC invested in the business to support its plans to expand into new markets, and since then has started exporting to the US and China.

The business is renowned for innovation, having recently received its second Queen’s Award for Enterprise, as well as being recognised at the Heating and Ventilation Awards, taking home Commercial Product of the Year for its Dual XP range.

“As well as providing the capital to invest, LDC also brings additional strategic input and operational expertise to help us make the most of growing global demand.”

John Vaughan, CEO, ADEY

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Last year, LDC backed the UK-wide roll-out of healthy food-to-go retailer Vital Ingredient, investing more than £8million in the management buyout of the business.

As part of the deal, Graham Turner was appointed as Non-Executive Chairman. He previously led restaurant group Tragus whose brands included Café Rouge, Strada and Bella Italia.

The business now plans to grow its 20-strong estate to at least 35 stores within the next five years, while also introducing new formats. Vital Ingredient has recently launched the Vital Ingredient App, which replaces the company’s existing card-based loyalty scheme.

“This is the first time I’ve done any private equity funding and we saw about six or seven private equity houses. Simon and LDC stood above any of the others. Good, sensible, calm and pragmatic. It was a lot more pleasurable than I thought it would be.

Alex Heynes, Founder, Vital Ingredient

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