Mid-market private equity investor LDC has backed the management buyout (MBO) of Texecom from FTSE 100-listed technology group Halma plc.
LDC’s investment will support Texecom’s existing management team, led by Managing Director Jim Ludwig, to build on its position and international presence through developing new products, enhancing its digital services and exploring complementary acquisitions.
The investment was led by LDC’s Head of Yorkshire Dan Smith and Investment Directors Will Scales and Leigh Daveran. As part of the transaction, Dan and Will join Texecom’s Board as Non-Executive Directors.
Jim Ludwig, Texecom Managing Director, said: “We’re thrilled to have an investor that is as excited about our business, and the customers we serve, as we are. Our new partnership with LDC gives us the support and financial firepower to build on our legacy and achieve our ambitions. With the team’s help, we will continue to grow market share in the UK and in key overseas markets.”
Dan Smith, Head of Yorkshire at LDC, added: “Texecom’s international footing and its reputation for quality, innovation and technical capability means the business is perfectly positioned to take advantage of the evolving global security market. We’re excited to support Jim and his ambitious management team to realise Texecom’s future potential.”
Online reports suggest that the business was sold for £65m following its initial purchase in 2005 for £26m and also reveal that wireless fire systems company Ramtech has been acquired by Halma.
