UK - LDC and Advent merge portfolio companies in £72m deal

Pro-Bel has been backed by LDC since 2003, while Snell & Willcox has been an Advent Ventures portfolio company since 2002. The companies provide technology to the bradcasting industry, offering products such as digital routing, control and signal distribution systems and production switches, which are used by film studios and broadcasters worldwide. Among its clients are Sony Pictures, Warner Brothers, BBC and HBO. The new company is expected to have turnover of approximately £80m and will employ 450 staff.

The Royal Bank of Scotland and HSBC provided a £25m debt package comprising senior debt and working capital to support the deal. LDC and Advent Venture will hold the majority in the new company, with management owning just over 20%.

It has yet to be decided whether to merge the brand names of the two businesses.

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