East Midlands firms set to benefit from share of £1.2bn funding pot

Businesses in the East Midlands could be in line for a fresh funding boost after the UK’s top mid-market private equity firm renewed its commitment to the region.

LDC says it will look to increase the scale of its investment in the East Midlands – an area it views as strategically important – as part of its rolling three-year plan to pump £1.2bn into companies across the UK.

Part of Lloyds Banking Group, LDC typically invests between £5 million and £100 million in a single transaction, and has invested £175 million in the East Midlands over the last five years.

Last year, the company made a minority investment in Nottingham-based managed IT services provider Littlefish and helped customer services solutions provider ENSEK, also of Nottingham, to triple its revenues to £8.7 million.

Richard Whitwell, head of LDC in the Midlands, said: “We have invested over £175 million to support the ambitions of management teams in the East Midlands over the past five years. Today, business leaders across the East Midlands continue to show a clear desire to push on and grow, regardless of uncertainty. Backed by our national commitment to invest £1.2 billion over the next three years, our team is determined to ensure a good part of this is used to support the region’s growing businesses.”