LDC bolsters UK Midlands' team

Chris Handy, based in the firm's Birmingham office, will lead its West Midlands team, while David Bains, based in Nottingham, will lead the East Midlands team. 

Both replace Richard Whitwell, who retires from leading the whole Midlands team in March. 

Handy joined LDC eight years ago having worked for both Rolls-Royce and PwC's local corporate advisory team.

Bains joined LDC in 2016 from investment firm GLP, where he was a managing director focused on UK transactions. 

LDC says the promotions will help expand its support for mid-market businesses across the region. In 2021, it completed 20 transactions in the Midlands with a combined value of more than GBP 1.6bn. 

Across the UK, the GP invested GBP 400m in 2021, backing 19 management teams and aiding 65 bolt-on acquisitions for existing portfolio companies. Its recent investments include fine food manufacturer Bramble, mobility business Kingswood, and BioZone Scientific, a global manufacturer of ultraviolet technology. 

The GP says it is accelerating its investment strategy with a target to back 100 mid-market companies over the next five years.

In the UK, it generated GBP 870m in proceeds from a total of 18 exits during 2021 with an average money multiple of 2.5x. Exited minority stakes in 2021 included holiday park operator Away Resorts and fall protection specialist Kee Safety.

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