We chose to partner with LDC for private equity investment due to the firm’s heritage and success in the region, supporting Yorkshire-based businesses looking to scale nationally and beyond.”Geoff Bloore, Founder and Managing Director
Dale Alderson, Director at LDC, added: “Global Autocare is a fantastic example of a dynamic, homegrown business. It has used an innovative approach and an exceptional reputation for client service to become one of the region’s most exciting success stories.”
John Garner, Head of LDC in Yorkshire and the North East, added: “Yorkshire continues to be a vibrant place to do business, but we know there is great opportunity for Global Autocare to grow even further and quicker across the UK. We’re looking forward to supporting the management team to achieve its ambitions for the future.”
The investment marks the third this year for LDC in Yorkshire and the North East, following investments in York-based business services provider Mosaic Fulfilment Solutions and Newcastle-based property services provider iamproperty. LDC has also continued its support for Linley & Simpson’s ambitious buy and build strategy, backing the management team to bring in nine complementary businesses to the group since June last year.
Global Autocare was advised by the corporate and banking teams at Squire Patton Boggs (legal), led by corporate Partner Paul Mann.
LDC was advised by Grant Thornton (corporate finance), Addleshaw Goddard (legal) and KPMG (due diligence and tax).
Nat West will continue to support the business as its incumbent senior lender.
Notes to Editors
- LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
- LDC backs ambitious management teams from UK-based medium sized companies seeking up to £100m of investment to fund management buyouts or development capital transactions.
- LDC invests in a broad range of sectors and has particular experience in Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
- LDC has a UK regional network with locations in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Newcastle, London, Manchester, Nottingham and Reading.