LDC backs PDG Helicopters MBO

PDG will look to increase the size of its fleet in response to growing demand from the infrastructure and construction sectors.

The company's management will hold a significant minority stake in the business following completion of the deal.

Debt
Lloyds Bank provided a £15m funding package to support the deal.

Previous funding
Maven Capital Partners, at the time AMJPE, acquired a 20% stake in PDG for £1.9m in 1999. The firm then invested £2.8m as part of a £7.5m deal backing the company's acquisition strategy in 2002.

The business then bought back the shares and loan stock owned by Maven in 2012. Clydesdale Bank supplied the business with £900,000 to support the transaction.

Company
Headquartered in Inverness and founded in 1994 via the merger of PLM Helicopters and Dollar Helicopters, PDG provides helicopters to the construction and utility sectors. The business has additional bases in Glasgow, Wolverhampton and Dublin with a total headcount of 85. PDG generated a turnover of £16m for the year to September 2014.

People
Mark Kerr, head of LDC Scotland, will take a seat on the PDG board. Jerry Francis is CEO of PDG.

John Forrest, the former senior vice vice president of Talisman Energy, has been appointed as chairman of PDG, with former SSE Ventures managing director, Jim Wilson, also taking a seat on the board.

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

• Topics
• Buyouts
• Support services
• UK / Ireland
• LDC
• United Kingdom