LDC invests £13m in Asset Solutions MBO

Kenny Wastell
04 June 2018

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LDC has invested ТЃ13m in the management buyout of Asset Solutions Group, a UK-based provider of auditing and supply chain management services, from trade vendor OCS Asset Solutions.

Following the transaction, the company will invest in the development of its technology, as well as pursue consolidation opportunities and expand into international markets.

As part of the deal, LDC introduced Greg Ball, formerly a board member at Littlewoods and Home Retail Group, as non-executive chairperson at Asset Solutions, while the GP's investment directors, Rob Schofield and Victoria Marcer, will take a seat on the board.

The company's management team has also invested for a significant stake, according to a statement.

Company
Headquartered in Orpington, Asset Solutions comprises Retail & Asset Solutions and Vehicle & Asset Solutions. The former provides supply chain management, stocktaking and merchandising services to the grocery and general retail sector, while the latter provides vehicle and asset auditing services to the finance and banking sector.

Asset Solutions' clients include Sainsbury's, Jack Wills, Tesco and Close Brothers. According to a statement, the group generated sales of £35m in 2017 and is anticipating revenue growth of 15% in 2018.

People
LDC – Rob Schofield, Victoria Marcer (investment directors).
OCS Asset Solutions – Lois Heywood (CEO).

Advisers
Equity – PwC (financial due diligence); Browne Jacobson (legal).
Company – Shakespeare Martineau (legal).
Vendor – BDO (corporate finance).