LDC notches up £100m NW investments
PRIVATE equity firm LDC says it is looking to build on a record £100m investment in North West growth businesses.
Unquestionably the biggest regional player in the lower-mid market, the LDC team lead by Carl Wormald has recently backed Manchester wireless internet provider Metronet, Middleton-based pump manufacturer Bifold Group, Wythenshawe-based Airline Services and corporate travel management company TD Travel.
It is also waiting for regulatory approval on an investment in Keoghs, a the Bolton-based law firm.
From a personnel point of view LDC has just lost investment director Jon Pickering to new regional rival NorthEdge Capital, but is looking to replace him and hire one more investment director by the end of this year.
Carl Wormald said: “This year has been a real turning point for merger and acquisition activity in the North West, which has been made possible by the number of quality management teams and businesses based in the region and the tenacity and professionalism of its dealmakers and advisory community.
“We’ve invested a record level of equity so far, backing some of the region’s brightest and best businesses. It’s important we maintain that momentum as we head into 2013, which is why we’re committed to further expanding our team.”
Commenting on the departure of Mr Pickering, he added: “Jon has done a fantastic job for LDC. It’s a positive for both LDC and the local community that he’s staying in the region and working with NorthEdge Capital.”
NorthEdge recently raised its first fund. Based in Manchester and Leeds its team is made up of mostly former LDC executives including Grant Berry and Andy Ball.
