Caird Capital exits Bifold to LDC for £85m

The company's management – headed by Gary Jacobson – acquired a majority stake in the business.

Debt
RBS provided a moderate amount of debt to finance LDC's acquisition.

Previous investment
Caird is thought to have contributed £6m to a £35m secondary management buyout led by Bank of Scotland Integrated Finance in 2007.

The business had a turnover of £15m at the time and is set to achieve sales of up to £40m in 2012, a source said. EBITDA for 2011 was £5.6m.

Caird stated it drove growth by introducing new products and product variations, and by significantly investing in R&D.

The GP appointed Neil McArthur as new chief financial officer in 2009.

Company
Bifold manufactures high-specification directional control valves and hydraulic pumps for the oil and gas market.

Its manufacturing facilities are based in the UK with sales offices worldwide. The company was incorporated in Manchester in 2007 and has 200 staff.

LDC plans to achieve an EBITDA of 10% for 2012.

Advisers
Equity – Eversheds (Legal)
Vendor – DLA Piper (Legal)
Company – Altium (Corporate finance); Addleshaw Goddard (Legal)

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

• Topics
• UK / Ireland
• Buyouts
• Industrials
• LDC
• United Kingdom
• Secondary buyout
• Eversheds
• DLA Piper