LDC Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, LDC has acquired 10 companies. It has also invested in 43 others.

LDC’s most common sectors for investment arebusiness services (10%) and information technology (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (36%) and growth capital (34%). In total, LDC has invested in 5 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired National Exhibition Centre Group for $473M.

In the last 3 years, LDC has exited 37 companies. The Firm’s most common exit type is trade sale (48%). LDC’s largest (disclosed) exit occurred in 2007 when it sold Apollo Property Services Group for $631M.

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M&A Summary

  • M&A Total Activity498
    • M&A Buy Activity300
    • M&A Sell Activity198
  • Total Sectors Invested 50
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 135
  • M&A Advisors 70

LDC

LDC (Managers) Ltd.

One Vine Street,
London, W1J 0AH
United Kingdom
+44 (0)20 7758-3680
www.ldc.co.uk

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Communications, Construction, Consumer Products, Consumer Services, Defense, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Gaming, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Manufacturing, Marketing, Media, Medical Products, Plastics, Real Estate, Retail, Safety/Security, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Special Situations/Distressed, Acquisition Financing, Secondary Buyout

Geographic Preferences: United Kingdom

Transaction Criteria Min Max
Target Revenue 5 -
Target EBITDA 1 -
Investment Size 2 100
Enterprise Value - -
values in millions of GBP

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (13.4/yr) # 233 14 17 15 10 11 300
vol $5.8B $5.8B
Sell (10.6/yr) # 145 16 16 9 4 8 198
vol $7.1B $210M $496M $202M $8.0B
  498

Most Recent M&A

Company Date Value Type
Perfect Data Solutions Ltd. 2024-11-07 - Growth Capital
Fareham, United Kingdom · www.lendingmetrics.com
Croud Inc Ltd. 2024-10-31 - Secondary Sale
London, United Kingdom · www.croud.com
Bullen Healthcare 2024-09-11 - Growth Capital
Liverpool, United Kingdom · www.bullens.com
Creative Network Consulting Ltd. 2024-08-01 - Growth Capital
London, United Kingdom · www.creative-itc.com
Hill Biscuits Ltd. 2024-07-31 - Trade Sale
Lancashire, United Kingdom · www.hillbiscuits.com
Ensek Ltd. 2024-07-29 - Trade Sale
Nottingham, United Kingdom · www.ensek.com
Medray Imaging Systems Ltd. 2024-07-29 - Secondary Buyout
Dublin, Ireland · www.medray.ie
The Edwin Group Ltd. 2024-07-17 - Secondary Sale
Newcastle upon Tyne, United Kingdom · www.edwin.group
Deltron Group 2024-07-04 - Growth Capital
Kingswinford, United Kingdom · www.deltronlifts.co.uk
Waterscan Ltd. 2024-06-27 - Growth Capital
Chichester, United Kingdom · www.waterscan.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Ross Trustees Services Ltd. 2023-02-06 Ross Trustees Services Ltd. (old) 2023-02-06 2
London, United Kingdom · www.weareigg.com London, United Kingdom · www.rosstrustees.com
Lucida Group Ltd. 2021-01-01 Right Choice Insurance Brokers Ltd. 2021-05-01 1
Essex, United Kingdom · www.lucidagroup.com Essex, United Kingdom · www.rcib.co.uk
ELEY Group Ltd. 2014-10-06 Accles & Shelvoke Ltd. 2016-07-12 1
Sutton Coldfield, United Kingdom · www.eley.co.uk Sutton Coldfield, United Kingdom · www.acclesandshelvoke.co.uk
Equiom Group Ltd. 2013-09-16 Lloyds Trust Company (Channel Islands) Ltd. 2015-05-05 9
Douglas, United Kingdom · www.equiomgroup.com 25 New Street, Channel Islands
Lumibird SA 2000-07-01 Snell Ltd. 2014-03-12 1
Lannion, France · www.lumibird.com Lower Earley, Reading, United Kingdom · ww.snellgroup.com
Ramco Tubular Services 2013-03-19 Pipetech International AS 2014-03-01 1
Aberdeen, United Kingdom · www.ramcotubular.co.uk Stavanger, Norway · www.pipetech.no
IDH Group Ltd. 2011-01-27 Associated Dental Practices Ltd. 2012-01-27 2
Manchester, United Kingdom · www.mydentist.co.uk Reigate, United Kingdom · www.adp-dental.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 10 (11%) 31M (4%) 30 (10%) 270M (5%)
Information Technology 13 (14%) - 29 (10%) 1.0B (18%)
Software 4 (4%) - 20 (7%) 318M (6%)
Internet Software and Services 7 (8%) 38M (5%) 16 (5%) 192M (3%)
Media 2 (2%) - 14 (5%) 641M (11%)
Manufacturing 7 (8%) 195M (27%) 14 (5%) 273M (5%)
Healthcare Services 6 (7%) - 12 (4%) 268M (5%)
Leisure 6 (7%) 92M (13%) 9 (3%) 92M (2%)
Safety/Security 2 (2%) - 9 (3%) 38M (1%)
Medical Products 3 (3%) - 8 (3%) 140M (2%)
Financial Services 2 (2%) - 8 (3%) 37M (1%)
Food 1 (1%) - 8 (3%) -
Consumer Products 2 (2%) 95M (13%) 7 (2%) 95M (2%)
Aerospace 1 (1%) 31M (4%) 7 (2%) 46M (1%)
Construction 1 (1%) - 7 (2%) 11M (< 1%)
Staffing 2 (2%) 172M (24%) 6 (2%) 219M (4%)
Distribution - - 6 (2%) 159M (3%)
Transportation 1 (1%) - 6 (2%) 83M (1%)
Retail - - 6 (2%) 23M (< 1%)
Electrical Equipment - - 6 (2%) 16M (< 1%)
Building Materials - - 5 (2%) 454M (8%)
Communications 4 (4%) - 5 (2%) 154M (3%)
Insurance 1 (1%) - 5 (2%) 103M (2%)
Marketing 2 (2%) - 5 (2%) -
Apparel/Textiles - - 4 (1%) 77M (1%)
Beverages 1 (1%) - 4 (1%) 74M (1%)
Electronics - - 4 (1%) 41M (1%)
Engineering 1 (1%) - 4 (1%) -
Education 1 (1%) - 3 (1%) 131M (2%)
Packaging - - 3 (1%) 65M (1%)
Automotive 1 (1%) - 3 (1%) 12M (< 1%)
Digital Media 2 (2%) - 3 (1%) -
Energy Services and Equipment - - 3 (1%) -
Real Estate 1 (1%) - 3 (1%) -
Utilities 1 (1%) - 2 (1%) 80M (1%)
Technology Hardware - - 2 (1%) 58M (1%)
Test/Measurement Equipment - - 2 (1%) 46M (1%)
Machinery - - 2 (1%) 38M (1%)
Plastics - - 2 (1%) 9M (< 1%)
Information Services 1 (1%) - 2 (1%) -
Publishing - - 1 (< 1%) 269M (5%)
Environmental - - 1 (< 1%) 92M (2%)
Restaurants 1 (1%) 77M (11%) 1 (< 1%) 77M (1%)
Consumer Services - - 1 (< 1%) 20M (< 1%)
E-Commerce - - 1 (< 1%) -
Furniture 1 (1%) - 1 (< 1%) -
Gaming - - 1 (< 1%) -
Life Science 1 (1%) - 1 (< 1%) -
Oil/Gas Exploration 1 (1%) - 1 (< 1%) -
Renewable Energy 1 (1%) - 1 (< 1%) -
Total 91 $732M 304 $5.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 86 (95%) 606M (95%) 292 (96%) 4.4B (91%)
United States 2 (2%) - 6 (2%) 405M (8%)
  Texas - - 1 (< 1%) 405M (8%)
  New York - - 1 (< 1%) -
  New Jersey - - 1 (< 1%) -
  Minnesota - - 1 (< 1%) -
Netherlands 1 (1%) 31M (5%) 2 (1%) 31M (1%)
France 1 (1%) - 1 (< 1%) -
Ireland 1 (1%) - 1 (< 1%) -
Germany - - 1 (< 1%) -
Domestic 86 (95%) 606M (95%) 292 (96%) 4.4B (91%)
Cross-border 5 (5%) 31M (5%) 11 (4%) 436M (9%)
Total 91 $637M 303 $4.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (8%) 203M (32%) 109 (36%) 1.2B (22%)
Growth Capital 58 (64%) - 103 (34%) 57M (1%)
Secondary Buyout 17 (19%) 208M (33%) 57 (19%) 2.3B (43%)
Divestiture 8 (9%) 226M (35%) 24 (8%) 1.5B (29%)
Stake Purchase - - 5 (2%) 77M (1%)
Consolidation 1 (1%) - 4 (1%) 111M (2%)
Merger - - 2 (1%) 80M (2%)
Total 91 $637M 304 $5.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 72 (36%) 3.2B (45%)
Trade Sale 60 (30%) 1.4B (20%)
Trade Sale - Public Company 42 (21%) 2.4B (34%)
Merger 8 (4%) 80M (1%)
IPO 6 (3%) -
Bankruptcy 3 (2%) -
Sold to Management 3 (2%) -
Unknown 2 (1%) -
Recapitalization 1 (1%) -
Shut Down 1 (1%) -
Total 198 $7.2B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
 35
Clearwater International
 10
PwC Corporate Finance LLC
 9
Legal Deals
Gateley
 14
DLA Piper
 12
Addleshaw Goddard
 11

Deal Values

buy # Total
$100M to $1B 14 $3.2B
< $100M 55 $2.6B
TOTAL $5.8B
Largest National Exhibition Centre Group
$473M (2015-01-16)
sell # Total
$100M to $1B 32 $6.4B
< $100M 29 $1.5B
TOTAL $8.0B
Largest Apollo Property Services Group Ltd.
$631M (2007-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
19%
57 (19%)
Strategic(s)
9%
26 (9%)
Exited to
Investor(s)
36%
72 (36%)
Strategic(s)
51%
101 (51%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

3.6B GBP

Established

1981

Specialist/Generalist

Generalist

Leadership

Toby Rougier

Chief Executive

Iain Katimbo

Head of Funds, National

David Whittaker

Head of IT

Lauren Goodfellow

Head of Marketing and Communications

Angelica Taguinod

Head of Valuations, National

FAQ

When was LDC founded?

LDC was founded in 1981.

What type of investor is LDC?

LDC is a private equity firm.

Where is LDC headquartered?

LDC is headquartered in London, United Kingdom.

How much capital does LDC have under management?

LDC has 3.6B GBP under management.

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