LDC reaps 2.4x in JCC Lighting exit

Leviton acquired JCC to strengthen its market footprint in the UK while the deal will allow JCC to expand its production across the US.

LDC bought a majority stake in JCC in 2008, alongside the firm's management. Royal Bank of Scotland provided a debt package in order to finance the acquisition.

LDC has committed more than £350m in 18 transactions and completed eight exits since the beginning of the year, the GP said. In its most recent divestment in mid-October, LDC sold social housing contractor Forrest to fellow buyout house Palatine Private Equity for £16m. In another recent exit, LDC sold energy management service provider Matrix Energy Services to E.ON Connecting Energies in mid-September. Prior to this, the UK-based GP handed over financial services software company Avelo to Iress, an Australian financial services technology specialist, for £210m.

Company
JCC Lighting designs and manufactures lighting products. The firms designs its products in the JCC Innovation Centre, a subsidiary working together with local universities, while parts are mostly sourced oustide the UK.

The firm recently begun to develop new products, with a focus on LED lighting technology. JCC's sales grew by 33% last year while the firm expects to see 16% growth in sales at the end of this year.

Founded in 1989, JCC is based in Bognor Regis.

People
Richard Adey is JCC's executive chairman. Donald Hendler is CEO of Leviton. Alex Snodgrass is an investment executive at LDC.

Adviser
Vendor - Business Development Asia (Corporate finance).

 

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• Topics
• Exits
• UK / Ireland
• Consumer
• Trade sale
• LDC