News
LDC recognises next generation of industrials talent
18 Jul 2024
Earlier this week, we welcomed a cohort of Non-Executive Directors to the Manufacturing Training Centre (MTC) in Coventry to discuss the key role apprenticeships are playing in the industrials sector and the future of the UK economy.
The event, which was organised by LDC, brought together a range of individuals, who together have decades of industrials experience, for a tour of the apprenticeship training facility. Hosted by David Grailey, Managing Director of Training at MTC, the tour provided an opportunity to meet with apprentices, see first-hand the innovations they have developed during their training, and discuss the importance of supporting people development within the industry.
This was followed by discussions about the how broader ESG initiatives can also drive value in industrials SME’s, the vital role of Non-Executive Directors in private equity-backed businesses, and how LDC is supporting the growth of companies in the industrials sector.
Industrials businesses are the engine room of the UK economy. They support more than 2.5 million jobs across the UK and output £189bn a year. It is also a sector we know well, having invested more than £900m since 2012 to support 48 businesses across a range of sub-sectors. This includes our current partnerships with Precision Micro and ELE Advanced Technologies.
The MTC is a state-of-the-art training centre designed to create a new generation of engineers and technicians. It offers industry leading apprenticeships and through its long-term partnership with Lloyds Banking Group, which has committed to providing £1m of funding per year until 2030, is helping thousands of apprentices, graduates and engineers to develop the skills needed for delivering the technologies of the future.
It was clear from the evening’s discussion that those working in the sector are passionate about the development of young talent, with some of the Non-Executive Directors in attendance having started out their own careers as an apprentice. Apprenticeships not only connect education to employment, but they also help to foster innovation, promote inclusivity, and ultimately help businesses to deliver sustainable growth.
The facilities at the MTC are spectacular and it was quite inspirational to hear from the young people who are benefitting from their training here. From our work within our own portfolio, we know how important apprenticeships are in the industrials sector and initiatives like this will continue to play a vital role in upskilling talent, creating job opportunities and helping businesses to grow.”
LDC is supporting its portfolio companies with their own apprenticeship schemes. For example, ELE, which provides engineering solutions in the aerospace, power generation and automotive sectors, is working with the Institute of Technology (IoT) to train up its own engineering apprentices every year and the business has helped to develop training courses with the IoT’s academic partner, Nelson & Colne College Group.
Elsewhere, Precision Micro is delivering a successful apprenticeship scheme to recruit young talent from within a five-mile radius of its manufacturing plant in Birmingham, through engagement with local schools. The business welcomed its first apprentice in 2022 and receives 80- 100 applications for each annual intake, growing its programme year-on-year.
Will Scales, Investment Director at LDC, added: “When it comes to supporting our portfolio companies it’s important that we get the right people around the table, and non-executive directors play a crucial role in helping management teams to deliver their growth strategy by sharing personal experiences and offering strategic guidance and a fresh perspective.
“They are also hugely passionate about supporting the next generation of talent and in a sector such as industrials, that is rightly focused on the importance of skills to drive competitive advantage, it was great to bring the two groups together at this event. We’re always actively looking to expand our network of non-executive directors across the industrials sector and look forward to hosting further events like this in the future.”
