How has the business developed since the investment in 2011 and made it what it is today?
“The investment partnership helped us to understand how to implement a robust organic growth plan, as well as enabling us to acquire and successfully integrate complementary businesses. We completed nine acquisitions across the UK during the investment period, helping us to expand our geographic footprint nationally. This has been instrumental to our growth and success in recent years.”
When we were looking for a private equity partner, our main priority was a team that was the right fit for us – both commercially and personally.”John Dundon, Non-Executive Director
Waterlogic UK (formerly Angel Springs)
How would you describe your partnership with LDC during the investment period (2011-14)?
“When we were looking for a private equity partner, our main priority was a team that was the right fit for us – both commercially and personally. During several months of negotiation, we got to know Andy Lyndon and Alistair Pendleton at LDC very well and found them to be like-minded people, who also happen to be fantastic at what they do. LDC was a great partner to help us accelerate the growth of our business. They were very supportive, collaborative and provided creative solutions to any challenges the business faced. The team pushed us commercially, which was what we needed to really drive us and help unlock Angel Springs’ full potential.”
Did you have any preconceptions about private equity investment before your partnership with LDC? Did these change during / after your partnership?
“We had prior experience of private equity and were aware of both the challenges and opportunities it brings as a result. It was important for us to find a partner who challenged us commercially, but still gave us the freedom to run our business. This is exactly what we got with LDC.”
What advice would you give to Black Country businesses considering private equity?
“I’d say that if you are looking to rapidly expand your business, organically, through acquisitions or both, having the right private equity partner can be absolutely critical to your success. It’s not simply a case of finding a partner who will just give you the best financial deal on paper, but one who will become an integral part of your team and truly grow with you and the business and ultimately, provide you with very attractive returns. We are very proud of the partnership and success we enjoyed with LDC.”
Comment from Richard Whitwell, Director and Head of the Midlands at LDC
“From our initial meeting with Angel Springs, we really connected with John and the team and truly bought into the company’s vision and ambition. They had been in growth mode for a number of years before we backed them, but there were even more opportunities for the business to tap into. This was an exciting prospect for us and from day one John and the team delivered. It’s a partnership that we’re very proud of.”
LDC is sharing inspirational stories from its current and past portfolio company leaders to mark 40 years of backing ambitious businesses across the UK.