LDC marks hat-trick with Ramco investment

LDC is believed to have secured a majority stake in the Ramco buyout. The deal is understood to have been valued upwards of £30m.

LDC bought the business from Sir Fraser Morrison, the former head of Morrison Construction, and his family originally backed a management buyout of Ramco in 2005. They will exit the company following the transaction.

Clydesdale Bank's acquisition finance team provided a debt package to finance the transaction. Ramco is an existing customer of the bank.

This marks LDC's third deal announced in the past couple of days: the firm also sold its stake in MB Aerospace to Arlington Partners and took part in the MBO of NRS Healthcare from parent company Findel.

Company
Established in 1977, Aberdeen-based Ramco provides services relating to the storage, management, cleaning and preparation of pipes used in oil and gas wells. Ramco also owns 50% of BSR Pipeline Coating, a joint venture with Tata.

Ramco has a particularly strong presence in Norway, but has also established operations in China, Japan and Romania. The company employs around 230 people across the UK and Norway.

People
Mark Kerr and Kevin Binnie worked on the transaction for LDC. Kerr will join the company's board. Michael Scott-Brown represented Clydesdale.

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• Topics
• Buyouts
• UK / Ireland
• Industrials
• LDC
• Mid-market buyout