Lloyds TSB Development Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Lloyds TSB Development Capital has acquired 28 companies. It has also invested in 20 others.

Lloyds TSB Development Capital’s most common sectors for investment are business services (13%) and software (10%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (49%) and secondary buyout (21%). In total, Lloyds TSB Development Capital has invested in 3 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired The NEC Group for $473M.

In the last 3 years, Lloyds TSB Development Capital has exited 32 companies. The Firm’s most common exit type is trade sale (49%). Lloyds TSB Development Capital’s largest (disclosed) exit occurred in 2007 when it sold Apollo Property Services Group for $631M.

Join Mergr to view Lloyds TSB Development Capital’s full profile and discover more middle-market private equity firms just like it.

M&A Summary

  • M&A Total Activity364
    • M&A Buy Activity235
    • M&A Sell Activity129
  • Total Sectors Invested 48
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 99
  • M&A Advisors 55

Lloyds TSB Development Capital Ltd.

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

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and 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. Lloyds TSB Development Capital Ltd 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, 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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (11.6/yr) # 177 12 14 11 16 5 235
vol $4.8B $514M $490M $92M $538M $6.4B
Sell (8.6/yr) # 86 11 11 12 8 1 129
vol $5.6B $528M $38M $638M $95M $6.9B
  364

Most Recent M&A

Company Date Value Type
Beekman Associates LLC 2020-09-07 - Growth Capital
New York, New York · www.rightspend.com
Aker Systems Ltd. 2020-07-20 - Growth Capital
Bicester, United Kingdom · www.akersystems.com
James and James Fulfilment Ltd. 2020-03-16 - Growth Capital
Northampton, United Kingdom · www.ecommercefulfilment.com
Ashtons Hospital Pharmacy Services 2020-03-05 - Buyout (LBO, MBO, MBI)
Brighton, United Kingdom · www.ashtonshospitalpharmacy.com
Solid Solutions Management Ltd. 2020-02-10 - Secondary Buyout
Warwickshire, United Kingdom · www.solidsolutions.co.uk
Keoghs LLP 2020-01-21 - Add-on Acquisition
Bolton, United Kingdom · www.keoghs.co.uk
Global Autocare Ltd. 2019-12-20 - Growth Capital
Leeds, United Kingdom · www.globalautocare.co.uk
Martin Audio Ltd. 2019-12-19 60M GBP Add-on Acquisition
High Wycombe, United Kingdom · www.martin-audio.com
Commsworld Ltd. 2019-12-18 - Buyout (LBO, MBO, MBI)
Edinburgh, United Kingdom · www.commsworld.com
Croud Inc Ltd. 2019-11-22 - Growth Capital
London, United Kingdom · www.croud.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
MSQ Partners 2019-05-16 Be Heard Group plc 2020-09-02 1
London, United Kingdom · www.msqpartners.com London, United Kingdom · www.beheardpartnership.com
Onecom Ltd. 2019-07-22 Glamorgan Telecom Ltd. 2020-08-13 1
Fareham, United Kingdom · www.onecom.co.uk Cardiff, United Kingdom · www.glamorgantelecom.co.uk
Fishawack Communications Ltd. 2017-01-25 Skysis LLC 2020-04-09 7
Cheshire, United Kingdom · www.fishawack.com Scottsdale, Arizona · www.skysis.com
Eque2 Ltd. 2017-11-10 CLiP IT Solutions Ltd. 2019-11-07 2
Manchester, United Kingdom · www.eque2.co.uk Somerset, United Kingdom · www.clipitsolutions.co.uk
Fishawack Communications Ltd. 2017-01-25 2e Creative, Inc. 2019-08-02 6
Cheshire, United Kingdom · www.fishawack.com Saint Louis, Missouri · www.2ecreative.com
Fishawack Communications Ltd. 2017-01-25 Dudnyk, Inc. 2019-03-21 5
Cheshire, United Kingdom · www.fishawack.com Horsham, Pennsylvania · www.dudnyk.com
Equiom Trust Co. Ltd. 2013-09-16 HOLT Consultancy Ltd. 2018-12-20 9
Douglas, United Kingdom · www.equiom.im Dubai, United Arab Emirates · www.holtconsultancy.com
Fishawack Communications Ltd. 2017-01-25 Blue Latitude Health 2018-12-10 4
Cheshire, United Kingdom · www.fishawack.com London, United Kingdom · www.bluelatitude.com
Equiom Trust Co. Ltd. 2013-09-16 Comptabilité Xen, Inc. 2018-11-14 8
Douglas, United Kingdom · www.equiom.im Montreal, Quebec · www.xenaccounting.com
Pelsis Ltd. 2017-08-31 Curtis Gilmour 2018-08-29 1
Knaresborough, United Kingdom · www.pandl.co.uk , United States · www.curtisgilmour.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 15 (14%) 166M (6%) 30 (13%) 433M (7%)
Software 13 (12%) 69M (3%) 22 (9%) 434M (7%)
Information Technology 6 (5%) 377M (14%) 13 (5%) 1.1B (18%)
Media 6 (5%) 181M (7%) 13 (5%) 764M (12%)
Internet Software and Services 4 (4%) 148M (6%) 8 (3%) 302M (5%)
Manufacturing 6 (5%) 195M (7%) 8 (3%) 273M (4%)
Healthcare Services 4 (4%) - 7 (3%) 209M (3%)
Leisure 5 (5%) 92M (4%) 7 (3%) 92M (1%)
Safety/Security 1 (1%) 38M (1%) 7 (3%) 38M (1%)
Financial Services 3 (3%) - 7 (3%) 37M (1%)
Transportation 5 (5%) 296M (11%) 6 (3%) 353M (6%)
Distribution 3 (3%) - 6 (3%) 159M (3%)
Medical Products 2 (2%) - 6 (3%) 140M (2%)
Retail 1 (1%) 18M (1%) 6 (3%) 23M (< 1%)
Electrical Equipment 2 (2%) - 6 (3%) 16M (< 1%)
Construction 3 (3%) - 6 (3%) 11M (< 1%)
Food 3 (3%) - 6 (3%) -
Building Materials 1 (1%) 431M (16%) 5 (2%) 454M (7%)
Communications 4 (4%) 154M (6%) 5 (2%) 154M (2%)
Apparel/Textiles 2 (2%) 62M (2%) 5 (2%) 139M (2%)
Aerospace - - 5 (2%) 15M (< 1%)
Engineering 4 (4%) - 5 (2%) -
Insurance 1 (1%) - 4 (2%) 103M (2%)
Consumer Products 1 (1%) - 4 (2%) -
Staffing 3 (3%) 219M (8%) 3 (1%) 219M (4%)
Beverages 1 (1%) - 3 (1%) 74M (1%)
Technology Hardware 1 (1%) - 3 (1%) 58M (1%)
Electronics - - 3 (1%) 41M (1%)
Energy Services and Equipment - - 3 (1%) -
Education - - 2 (1%) 131M (2%)
Packaging - - 2 (1%) 65M (1%)
Test/Measurement Equipment - - 2 (1%) 46M (1%)
Machinery - - 2 (1%) 38M (1%)
Automotive - - 2 (1%) 12M (< 1%)
Information Services 1 (1%) - 2 (1%) -
Real Estate 1 (1%) - 2 (1%) -
Environmental 1 (1%) 92M (4%) 1 (< 1%) 92M (1%)
Restaurants 1 (1%) 77M (3%) 1 (< 1%) 77M (1%)
Marketing - - 1 (< 1%) 54M (1%)
Plastics 1 (1%) 9M (< 1%) 1 (< 1%) 9M (< 1%)
Consumer Services - - 1 (< 1%) -
Digital Media 1 (1%) - 1 (< 1%) -
E-Commerce - - 1 (< 1%) -
Gaming - - 1 (< 1%) -
Life Science 1 (1%) - 1 (< 1%) -
Marine 1 (1%) - 1 (< 1%) -
Oil/Gas Exploration 1 (1%) - 1 (< 1%) -
Publishing 1 (1%) - 1 (< 1%) -
Total 110 $2.6B 238 $6.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 104 (95%) 2.4B (96%) 228 (96%) 4.7B (90%)
United States 2 (2%) 62M (3%) 5 (2%) 467M (9%)
  Texas 1 (1%) 62M (3%) 2 (1%) 467M (9%)
  New York 1 (1%) - 2 (1%) -
  Minnesota - - 1 (< 1%) -
Netherlands 2 (2%) 31M (1%) 2 (1%) 31M (1%)
Germany 1 (1%) - 1 (< 1%) -
India 1 (1%) - 1 (< 1%) -
Domestic 104 (95%) 2.4B (96%) 228 (96%) 4.7B (90%)
Cross-border 6 (5%) 93M (4%) 9 (4%) 498M (10%)
Total 110 $2.5B 237 $5.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 39 (35%) 697M (27%) 115 (48%) 1.8B (30%)
Secondary Buyout 28 (25%) 1.4B (54%) 48 (20%) 2.3B (38%)
Growth Capital 30 (27%) - 43 (18%) 57M (1%)
Divestiture 9 (8%) 412M (16%) 22 (9%) 1.6B (26%)
Stake Purchase 3 (3%) - 7 (3%) 77M (1%)
Merger 1 (1%) 80M (3%) 2 (1%) 80M (1%)
Consolidation - - 1 (< 1%) 111M (2%)
Total 110 $2.6B 238 $6.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 49 (38%) 3.2B (48%)
Trade Sale 35 (27%) 1.1B (16%)
Trade Sale - Public Company 34 (26%) 2.3B (35%)
Merger 4 (3%) 80M (1%)
IPO 2 (2%) -
Sold to Management 2 (2%) -
Recapitalization 1 (1%) -
Sold to Existing Investors 1 (1%) -
Unknown 1 (1%) -
Total 129 $6.6B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
15
Deloitte
5
Rothschild Global Advisory
4
Legal Deals
DLA Piper
7
Addleshaw Goddard LLP
7
Gateley Plc
7

Deal Values

buy # Total
$100M to $1B 19 $3.8B
< $100M 56 $2.6B
TOTAL $6.4B
Largest The NEC Group
$473M (2015-01-16)
sell # Total
$100M to $1B 28 $5.6B
< $100M 25 $1.3B
TOTAL $6.9B
Largest Apollo Property Services Group Ltd.
$631M (2007-08-01)

M&A Connections

Deals %
Acquired from
PE Firm(s)
68%
51 68%
Strategic(s)
32%
24 32%
Exited to
PE Firm(s)
44%
51 44%
Strategic(s)
56%
66 56%

 Subscribe to unlock this and 155,627
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.0K Private Equity Firms
  • 144K M&A Transactions
  • 152K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.1K M&A Advisors
    (Investment Banks and Law Firms)
  • 45K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.