M&A Deal Summary

Lloyds TSB Development Capital Acquires D&D London

On April 22, 2013, private equity firm Lloyds TSB Development Capital acquired restaurant D&D London from Caird Capital and Conran Holdings for 50M GBP

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 1st transaction in the Restaurants sector.
  • This is Lloyds TSB Development Capital’s 25th largest (disclosed) transaction.
  • This is Lloyds TSB Development Capital’s 130th transaction in the United Kingdom.

M&A Deal Summary

Date 2013-04-22
Target D&D London
Sector Restaurants
Buyer(s) Lloyds TSB Development Capital
Sellers(s) Caird Capital
Conran Holdings
Deal Type Secondary Buyout
Deal Value 50M GBP

Target

D&D London

London, United Kingdom
D&D London owns and operates over 30 of the most famous restaurants in London, Paris, New York and Tokyo. D&D London was founded in 1991 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 136 of 298
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 22 of 57
Country (United Kingdom) 130 of 287
Year (2013) 8 of 18
Size (of disclosed) 25 of 69
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-19 Manor Grand Prix Racing

Banbury, United Kingdom

Manor Grand Prix Racing Limited, trading as Marussia F1 Team, operates as a car racing team. It also manufactures racing cars. The company was founded in 2009 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-13 eve trakway

Derbyshire, United Kingdom

Eve Trakway is a supplier of temporary vehicle and pedestrian access equipment used in major rail, communication and utilities infrastructure projects and high-profile outdoor events.

Sell £28M

Seller(S) 2

DESCRIPTION

Caird Capital LLP is a private equity firm focused on acquiring and investing in UK-based middle-market companies. Caird does not have any sector preferences. Caird Capital is based in London.


DEAL STATS #
Overall 9 of 19
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 3 of 8
Country (United Kingdom) 8 of 18
Year (2013) 1 of 4
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-26 Bifold Fluidpower

Manchester, United Kingdom

Bifold Fluidpower Ltd. is a designer and manufacturer of switching instrument valves and pumps for the oil and gas industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-01 Lambert Smith Hampton

London, United Kingdom

Lambert Smith Hampton (LSH) is a commercial property consultancy operating from a national network of 27 offices based in the UK and Ireland. The company offers a wide range of consultancy and transactional services to an enviable private and public sector client base. LSH’s revenues are diversified by client, geography and service line.

Sell -
SELLER

Conran Holdings

London, United Kingdom

Category Company
Founded 1990
Sector Business Services
DESCRIPTION

Conran Holdings Limited is engaged in architecture, interior design, product and graphic design, and brand licensing activities; and the operation of shops, restaurants, and hotels.


DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 D&D London

London, United Kingdom

D&D London owns and operates over 30 of the most famous restaurants in London, Paris, New York and Tokyo. D&D London was founded in 1991 and is based in London, United Kingdom.

Buy -