Unquote

LDC backs WCCTV with £30m investment

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LDC has invested £30m in WCCTV, a supplier of wireless surveillance products, in exchange for a minority stake.

The company intends to use the fresh capital to further accelerate its international expansion and launch new products and services.

Following the deal, Ian Burnett will join WCCTV’s board as a non-executive director. Burnett has 30 years of experience in supporting the growth strategies of multi-site businesses. He has held board positions at private-equity-backed businesses, including compliance specialist Stroma and specialist manufacturer Sigmat.

In addition, LDC's North-West head Dale Alderson and investment director Richard Ibbett will also join the company’s board as non-executive directors.

In the past six months, LDC’s North-West team has completed three new investments and supported four exits. The deal for WCCTV follows the recent investments in digital learning provider Omniplex and Cheshire-headquartered manufacturer of accessories for light commercial vehicles Rhino Products.

In September last year, the team also provided LDC portfolio company MSQ Partners with £6m of follow-on funding to support its £20.6m acquisition of Be Heard Partnership.

Company
Established in 2001, WCCTV is a provider of wireless surveillance products, including redeployable CCTV, site security solutions and body-worn cameras.

Its products are used by the infrastructure, utilities, retail, transport and construction sectors, as well as by local authorities and housing associations across the UK and the US.

WCCTV is headquartered in Rochdale, Greater Manchester, with two additional offices in the UK, located in Edinburgh and Luton, and one in the US, based in Dallas, Texas.

The company generated revenues of £14.1m in the financial year ending on 31 July 2020.

People
WCCTV – Tim Williams (founder, chair), David Gilbertson (CEO).
LDC – Dale Alderson (head of the North West), Richard Ibbett (investment director).

Advisers
Equity – KPMG (corporate finance); Squire Patton Boggs (legal); EY (financial due diligence); CIL (commercial due diligence).
Company – GCA Altium (corporate finance); Addleshaw Goddard (legal).

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