LDC’s Manchester team completes four transactions in a month

Dale Alderson

The Manchester office of LDC, a mid-market private house, has completed four transactions in a month.

The team has welcomed Ellesmere Port-headquartered Rhino Products, a manufacturer of light commercial vehicle accessories, to its portfolio.

The partnership will see LDC support the management team’s ambitious buy and build strategy as well as continued international expansion.

The business has also completed three successful exits from its Manchester office.

Firstly, the team exited workforce management software specialist Mitrefinch to Advanced, following a four-year partnership that invested in technology to help transform the business into a market leading software-as-a-service (SaaS) player.

Mitrefinch doubled its revenue to £24million and increased employee numbers by 64 per cent between 2016 and 2020.

In late-October, LDC announced the exit of its investment in employment specialist Ellis Whittam to Marlowe plc.

Finally, LDC exited its minority stake in Giacom, the specialist cloud services marketplace, to Digital Wholesale Solutions.

Dale Alderson, Head of the North West for LDC, comments: “This year has been one of unprecedented challenge for North West businesses, and the work of our team is testament to our commitment to support the region’s ambitious business leaders.

“As an established member of the North West private equity community, we’ve been through ups and downs before and we know the importance of experience and flexibility. In uncertain times, management teams need long-term partnership to build scale and resilience, and that’s why we are here.”

2020 marks LDC’s 20th year in Manchester. In that time, it says it has backed more than 65 businesses, investing more than £325million of capital in the last five years alone.

Nationally, LDC say it is committed to investing £1.2billion in high-growth firms across the country over the next three years, with the North West remaining a core focus.