LDC backs MBO of Texecom from FTSE 100-listed Halma plc
Mid-market private equity investor LDC has backed the management buyout (MBO) of Texecom, a manufacturer of electronic security products and services, from FTSE 100-listed technology group Halma plc.
Texecom manufactures and supplies intruder detection and mass notification solutions to the global commercial, industrial and high-end residential markets protecting millions of properties around the world. It also uses digital and cloud-based technology to provide integrated security and building management systems.
The business turned over £33.4m FYE March 2021 and employs more than 380 people across its manufacturing facilities in Haslingden and Delph, and international offices in India, China and Spain.
LDC’s significant investment will support Texecom’s existing management team, led by Managing Director Jim Ludwig, to build on its market position and international presence through developing new products, enhancing its digital services and exploring complementary acquisitions.
The investment was led by LDC’s Head of Yorkshire Dan Smith and Investment Directors Will Scales and Leigh Daveran. As part of the transaction, Dan and Will join Texecom’s Board as Non-Executive Directors.
Jim Ludwig, Texecom Managing Director, said: “Our customers’ electronic security needs are becoming more complex than ever. By prioritising innovation, both organically and through acquisitions, we will continue to provide market-leading products and services to our clients so that they feel safe and can get on with their day-to-day lives.
“We’re thrilled to have an investor that is as excited about our business, and the customers we serve, as we are. Our new partnership with LDC gives us the support and financial firepower to build on our legacy and achieve our ambitions. With the team’s help, we will continue to grow market share in the UK and in key overseas markets.”
Dan Smith, Head of Yorkshire at LDC, added: “Texecom’s international footing and its reputation for quality, innovation and technical capability means the business is perfectly positioned to take advantage of the evolving global security market. We’re excited to support Jim and his ambitious management team to realise Texecom’s future potential.”