LDC invests in Ross Trustees

Katharine Hidalgo
23 November 2020

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LDC has invested in trustee and pensions support service Ross Trustees.

The management buyout was led by the existing management team – CEO Nigel Moore, chief operating officer Susan Andrews and chief business development officer Andrew Bradshaw. Moore, Andrews and Bradshaw are fully accredited members of the Association of Professional Pension Trustees.

Investment director Phil Hinson and head of Midlands for LDC Richard Whitwell will join the board as non-executive directors.

In 2020 to date, LDC has completed more than 30 new investments and portfolio company acquisitions across the UK, according to a statement.

Banking facilities were provided by HSBC.

Company
Ross Trustees was founded in 2010 by Steven Ross and provides professional trustee and pensions support services, as well as pensions manager and secretariat services through its Ross Corporate Services division. The Reading-based business employs a team of 45 professionals, with pensions expertise from legal, actuarial, consultancy, investment, project management, administrative and business backgrounds. For the financial year ending on 31 March 2020, Ross Trustees recorded revenues in excess of £8m.

People
LDC – Phil Hinson, Matt Newbold (investment directors); Richard Whitwell (head, Midlands); Josh Wachman (investment manager).

Advisers
Equity – KPMG (corporate finance, tax); BDO (financial due diligence); Armstrong (commercial due diligence); Gateley (legal); Aon (insurance due diligence).
Company – Cooper Parry (corporate finance); DWF (legal).