LDC backs GBP 65m MBO of Texecom

LDC said its investment would back the development of new products, enhancements to the company's digital services, and potential complementary acquisitions.

Debt facilities were provided by Crescent and working capital facilities were provided by Barclays.

Halma launched a process to sell Texecom in early Q2, Mergermarket reported back in May, citing sources familiar with the matter. The UK safety equipment group appointed advisers at Houlihan Lokey to manage the sale, with the asset being marketed on the basis of an GBP 8.1m EBITDA.

Company
Texecom manufactures and supplies intruder detection and mass notification systems to the commercial, industrial and residential markets. It also offers cloud-based security and building management systems.

The business turned over GBP 33.4m for the year ending in March 2021 and employs more than 380 people. Revenues for the year ending in March 2020 stood at GBP 39.9m. It has manufacturing facilities in Haslingden and Delph, and international offices in India, China and Spain.

People
LDC – Dan Smith (head of Yorkshire); Will Scales, Leigh Daveran (investment directors).

Advisers
Equity – KPMG (financial due diligence, tax); Walker Morris (legal); Armstrong (commercial due diligence).
Company – Liberty Corporate Finance (corporate finance); K&L Gates (legal); Grant Thornton (financial due diligence).
Vendor – Houlihan Lokey (M&A); Wiggin (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Industrials
• LDC
• Carve-out