Mid-market private equity investor LDC has strengthened its Manchester team with two senior hires as part of its commitment to invest GBP1.2 billion of equity in Britain’s small and medium sized companies over the next three years.
Guy Bagshaw and John Clarke both join LDC as investment directors.
Bagshaw joins from Rothschild, where he led the firm’s regional debt advisory practice and was responsible for originating and delivering all debt advisory mandates across the North. He has more than 13 years’ corporate finance experience and has completed deals with leading North West businesses such as EuroGarages and Holidaybreak.
With more than 10 years’ M&A advisory experience, Clarke joins from Clearwater International, where he was a director. He has worked across the UK mid-market advising entrepreneurs, private equity investors and their portfolio businesses, and corporate PLCs on the full deal lifecycle.
Jonathan Bell, director and head of LDC in the North West, says: “We’ve not only had a strong start to 2017 with our investments in Fishawack and ChargePoint, but we’ve continued to support the ambitions of some of the region’s most exciting businesses. Having invested more than GBP250 million and completing 13 new transactions out of the Manchester office alone in the last three years it’s clear that the region offers a number of quality investment opportunities, and it’s vital that we have the right people on board to help us support management teams looking for growth.”
Both Clarke and Bagshaw will be responsible for identifying potential investment opportunities, leading transactions and supporting LDC’s portfolio companies. Together they bring more than 23 years’ experience to create an eight-strong team at LDC in Manchester, making it one of the largest private equity investment teams in the region.
The news follows a strong start to the year for LDC in the North West, which has already seen the team back the GBP38 million management buyout of Fishawack, a provider of scientific communications services to global pharmaceutical companies, and the multi-million-pound management buyout of ChargePoint Technology, a manufacturer and innovator of specialist high containment and sterile transfer valves.
Bell adds: “Since we opened our doors in Manchester back in 2000 we’ve been at the heart of the business community and have had the pleasure of supporting the growth ambitions of management teams from across the North West. For the firm, the region has delivered many of our most exciting deals and with a healthy pipeline of activity this looks set to continue. Both John and Guy bring a strong track record in corporate finance and with our commitment to invest GBP1.2 billion nationally over the next three years they will play an integral role in helping us to drive growth across our portfolio and identify new investment opportunities.”
In 2016, LDC’s Manchester office completed three investments as it backed technology companies Mitrefinch and Giacom, and business services firm Ellis Whittam. It also generated more than GBP275 million of exit proceeds in 2016, having successfully exited investments in Synexus (2.3x money multiple), one of the world’s largest clinical trials patient recruitment firms, contract catering firm Waterfall (2.6x money multiple) and restaurant group New World Trading Company (6.1x money multiple).
