Private equity firm to commit £200m in Northern businesses in 2019
LDC, the mid-market private equity firm, has announced plans to invest £200m in businesses across the North of England and Scotland over the next 12 months.
This announcement forms part of wider plans for LDC to invest £1.2bn in high-growth companies over the next three years.
This past year, LDC invested £437m of equity last year in 23 new deals, which was a record total for the business.
Key deals in Yorkshire and the North East include a £10m investment in the property agency Linley & Simpson and a £31.8million investment in NBS, the commercial arm of the Royal Institute of British Architects (RIBA).
The firm also backed the secondary buyout of transport management software developer Mandata in a £20m deal.
The Yorkshire and North East team also divested two businesses, Sheffield-based video games developer and publisher Team17 and the Bradford-headquartered crisp brand, Seabrook. The team’s divestment in Team17 was marked by a £217m IPO on AIM.
John Garner, Head of LDC in Yorkshire and the North East, said: “Businesses in Yorkshire and the North East continue to show an unwavering optimism about the future that’s typical of the culture here. There is a genuine desire to create thriving and successful businesses, which is why we remain committed to supporting firms across Yorkshire and the North East with funding, expertise and flexibility.
“LDC has pledged to invest £200m in businesses across the North in 2019, and it’s my job to deploy a significant portion of this to local firms with an ambitious management team and a clear growth strategy.”
Martin Draper, CEO of LDC, added: “Last year was another milestone year for LDC, which saw us deploy our capital and expertise from every one of our regional teams. The outcomes achieved not only demonstrate the success of our unique, value-driving model, but also the importance of having a presence in the region to create enduring partnerships that enable companies across Yorkshire and the North East to thrive.”
