News
LDC lines up further growth in the East Midlands’ “thriving corporate finance community”
30 Dec 2025
As featured in Insider.
The head of LDC’s East Midlands team has hailed the region’s “thriving corporate finance community” as he looks back on a year in which the private equity firm completed exits totalling more than £350m. The dealmaker is also lining up job creation and new investments with volumes expected to “pick up” in 2026.
David Bains, partner and head of the East Midlands and East of England at LDC, said the firm has “achieved sustained deal flow” and its portfolio has “traded positively” over the last 12 months.
“Mansfield-based IDSL has grown rapidly since we invested in May 2024, with turnover up 21 per cent to £42.9m,” he said.
“Bedfordshire-based water and environment sustainability specialist Stonbury had a strong year, which included launching a new brand identity to redefine its market presence.
“Derby-based Mi Hub also achieved its Science-based ESG targets five years ahead of schedule and Littlefish continues to make great strides, particularly within its cyber solutions business.”
LDC completed several transactions amid “complex and fast-moving market conditions”, including exits totalling more than £350m in EV.
“We exited our investment in advertising solutions provider Blis to T-Mobile in March, following a successful three-year partnership that saw turnover increase by 75 per cent,” said Bains. “Our exit from Nottingham-based marina owner and operator Aquavista to Antin Infrastructure Partners followed in September, with our seven-year partnership supporting the business to triple revenue and double its marina portfolio.
“In November, we exited our investment in East of England-based premium milkshake brand Shaken Udder to Idilia following a four-year partnership during which revenue increased 91 per cent.
“In terms of new investments, we are proud to have backed Bespoke Kitchen Foods, a provider of innovative vegetarian and vegan products for the pub and casual dining market, and we are entering 2025 with an exciting pipeline of new potential opportunities.”
Deal activity in the East Midlands and East of England has “proven to be more resilient than other parts of the UK”.
“Our thriving corporate finance community is a big part of the reason why. About five years ago, post-Covid, there was a worry that the UK market was going to become very centred around our largest cities, including London, Birmingham and Manchester. But this has not happened and advisers in Nottingham and the surrounding areas continue to be some of the most active dealmakers in the country.”
Our market also covers a wide geography, giving us a vibrant business ecosystem spanning multiple sectors, in particular some of the most resilient including business services, infrastructure services and the built environment.”
“Looking ahead, I expect deal volumes to pick up in 2026 as the economic environment stabilises and businesses gain more clarity. Our desire to back ambitious management teams remains strong and we’re seeing lots of quality businesses come to market.
“I am confident that the determination and innovation we’ve shown this year puts us in a strong position.”
The firm, which is part of Lloyds Banking Group, plans to continue expanding its team next year, “giving us more boots on the ground in the East Midlands and East of England to support local management teams”.
“This investment reflects our commitment to the region and confidence in the opportunities here,” said Bains. “Beyond team growth, I hope we’ll have completed several new investments, backing ambitious management teams and supporting our portfolio companies to achieve their objectives through both organic and acquisitive growth.”