LDC, the private equity arm of the Lloyds Banking Group, has backed a GBP5.6m management buy out of Modelzone Holdings, the owner/operator of model retailer Modelzone and Amerang, a who
LDC, the private equity arm of the Lloyds Banking Group, has backed a GBP5.6m management buy out of Modelzone Holdings, the owner/operator of model retailer Modelzone and Amerang, a wholesale agent for overseas suppliers in the model and hobby industry.
The MBO was led by chief executive David Mordecai, supported by the group’s new non-executive chairman Terry Norris.
LDC’s initial GBP5.9m investment will be supported by further GBP3.6m funding over three years to enable Mordecai and his team to further enhance the group’s proposition and implement an accelerated retail roll-out plan, a core element of the investment strategy. In addition the group will make selective acquisitions.
Modelzone offers a broad range of models including plastic kits, die cast collectibles, remote control vehicles, railways and slot racing. Modelzone operates from 29 stores across the UK. Outlets include Bluewater, Lakeside, Metro Centre, The Trafford Centre and Meadowhall, as well as stores in major cities such as London, Liverpool, Manchester, Nottingham and Leeds.
