LDC picks up Aspin stake for £25m

The investment will be used to support the company's organic and acquisitive growth. According to LDC, the company is well-positioned to take advantage of recent investments made by Network Rail into rail electrification in the UK.

Company
Aspin designs and builds piled foundations for the rail industry, used mainly for supporting overhead line equipment and signalling structures. Clients include Network Rail, Carillion, Skanska and Balfour Beatty.

The company was founded in 2000 and is headquartered in Hemel Hempstead. Aspin employs 200 people throughout its offices in Mansfield, Derby, Preston, Glasgow and Somerset. The business generates annual revenues of £35m.

People
Aspin was founded by Barry McMahon and Andy Hoffman, who will continue to lead the business following the transaction. Keith Ludeman, previously main board director of Network Rail, has joined the business as non-executive chairperson.

The deal was carried out by LDC's Nottingham team, led by investment director John Green, with support from Andy Grove.

Advisers
Equity - Browne Jacobson (Legal); PwC (Financial due diligence).
Vendor - Smith Cooper (Corporate finance); Geldards (Legal).
Management - Flint Bishop (Legal).

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

• Topics
• Expansion
• UK / Ireland
• LDC