M&A Deal Summary

Lloyds TSB Development Capital Acquires Magicard

On May 27, 2016, private equity firm Lloyds TSB Development Capital acquired safety/security company Magicard from Ultra Electronics for 25M GBP

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 7th transaction in the Safety/Security sector.
  • This is Lloyds TSB Development Capital’s 43rd largest (disclosed) transaction.
  • This is Lloyds TSB Development Capital’s 174th transaction in the United Kingdom.
Investment Fate
  • Magicard was sold to a strategic buyer in 2021 for 42M GBP.

M&A Deal Summary

Date 2016-05-27
Target Magicard
Sector Safety/Security
Buyer(s) Lloyds TSB Development Capital
Sellers(s) Ultra Electronics
Deal Type Divestiture
Deal Value 25M GBP

Target

Magicard

Dorset, United Kingdom
Magicard is specializes in identification card printers with high-resolution, full-color image capabilities, built-in card security features and the ability to encode smart cards. Magicard was founded in 1992 and is based in Dorset, 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 182 of 304
Sector (Safety/Security) 7 of 9
Type (Divestiture) 16 of 24
Country (United Kingdom) 174 of 292
Year (2016) 8 of 14
Size (of disclosed) 43 of 69
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-26 Joules Group

Market Harborough , United Kingdom

Joules Group is a lifestyle brand that is renowned for its distinctive designs and prints, product range and authentic country heritage. The business offers a broad range of womenswear, menswear, children & babywear, homeware and accessories. Joules Group was founded in 1980 and is based in Market Harborough, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 CMS Group

Cumbernauld, United Kingdom

CMS Group designs, manufactures and installs energy-efficient and environmentally-friendly products, including PVCu, aluminum and timber composite, windows, doors and curtain walling systems. CMS Group was founded in 2006 and is based in Cumbernauld, United Kingdom.

Buy -

Seller(S) 1

SELLER

Ultra Electronics

London, United Kingdom

Category Company
Founded 1993
Sector Electronics
Employees4,253
Revenue 860M GBP (2020)
DESCRIPTION

Ultra Electronics is a provider of specialist capabilities, generating highly-differentiated solutions and products in the defense & aerospace, security & cyber, transport and energy markets, by applying electronic and software technologies in demanding and critical environments to meet customer needs. Ultra Electronics Holdings was founded in 1993 and is based in London, the United Kingdom.


DEAL STATS #
Overall 1 of 3
Sector (Safety/Security) 1 of 1
Type (Divestiture) 1 of 3
Country (United Kingdom) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-14 Furnace Parts

Cleveland, Ohio, United States

Furnace Parts LLC is a designer and manufacturer of specialty industrial thermocouple and RTD assemblies. The company produces a complete line of metal sheathed, base metal and noble metal thermocouple assemblies, as well as metal and ceramic protection tubes, used both domestically and abroad.

Buy $12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Ultra Electronics Airport Systems

Newtown, Connecticut, United States

Ultra Electronics Airport Systems is a provider of airport and airline software solutions. Ultra Electronics Airport Systems offers a comprehensive suite of airport management, baggage management, and passenger processing services.

Sell -