LDC launches Cardiff office, appoints Dewi Hughes

Katharina Semke
04 May 2016

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Private equity firm LDC has launched a new office in Cardiff, which will be led by Dewi Hughes.

With the new location, LDC hopes to bolster its investment in Welsh businesses. The GP stated it will be the only on-the-ground presence of a mid-market private equity house in Wales.

Hughes, who has 20 years' experience in M&A, joins from Deloitte where he led the firm's corporate finance advisory team in Cardiff in recent years. He started his career at EY in 1993 before moving to Deloitte in 2007. He started his new role at LDC on 3 May and is now investment director and head of LDC in Wales.

LDC has already backed Welsh businesses in the past. In April 2007, the GP acquired Bridgend-, Cardiff- and Tredegar-based Penn Pharmaceuticals in a £67m secondary management buyout from Gresham Private Equity. LDC exited its investment in the business in 2014 in a £127m deal with US-based Packaging Co-ordinators.

LDC also acquired AIM-listed media production company Boomerang in a take-private worth close to £8m in July 2012. The Cardiff-based company was renamed Boom Pictures and later merged with TV production firm Twofour Group. In 2015, LDC exited its investment through a sale to ITV.