LDC reaps 3.8x money on Eveden Group exit
LDC has sold its stake in lingerie and swimwear business Eveden Group to Japanese listed trade player Wacoal Holding Corporation.
The deal was valued at £148m, returning a 3.8x money multiple to LDC.
Previous funding
LDC took a minority stake in Eveden in June 2006. The transaction was valued in the £50-100m range.
Company
Eveden Group, founded in 1920, supplies fuller bust and full figure lingerie and swimwear to around 5,000 retailers in 50 countries. Headquartered in Desborough, UK, it employs 660 staff and recorded £8.4m in pre-tax profits from an £81.9m revenue in 2011.
People
Managing director Martin Draper worked on the deal for LDC.
Advisers
Management - PwC (Financial due diligence); Gateley (Legal).
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