The private equity arm of Lloyds Banking Group has completed three major deals in Yorkshire in the space of a week.
LDC team based in Leeds exited its investment in Knaresborough-headquartered Pelsis Group in early August, having originally backed the pest control products manufacturer in 2017.
During the partnership, Pelsis more than doubled its headcount to 600 people, increased global sales from €87million to €150million and extended its global footprint by making three international acquisitions.
Read more: warning on HS2 downgrade
It has also disposed of its interest in Leeds firm Sigmat, which has joined international building products group Etex.
LDC supported Sigmat’s organic growth strategy, helping the business to invest heavily in research and development and seeing it open a new production facility and a contract support centre.
In a new investment, LDC has supported the management buyout of Texecom, a leading manufacturer of electronic security products and services, backing the leadership team to carve the business out from its previous FTSE-100 listed owner.
Dan Smith, head of LDC in Yorkshire, said: “This flurry of transactions evidence both the opportunities available for ambitious management teams across Yorkshire and the fact that private equity can support growth.
“As the UK economy continues to recover, we’re seeing increased confidence from business leaders. Management teams are beginning to explore bold expansions plans again, whether that’s acquiring a competitor, investing in a new site or even pursuing international expansion.
“As the region’s leading mid-market investor, we are ready to help make their ambitions a reality.”
Having strengthened the team with the appointment of investment director Will Scales at the start of the year, LDC’s Yorkshire team is continuing to grow to further enhance its support for businesses across the region.
.jpg?w=600)
