Case study

Kee Safety: Long-term support

LDC has invested considerable time and resource in our business.

Chris Milburn, Chief Executive
Kee Safety

LDC has helped the fall-protection business reach new heights with a series of investments over eight years.

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Sector
  • Industrials

Kee Safety is the leading provider of fall protection equipment.

Employees: 493

Deal type
  • Management buyout
Deal value

£90m

Exit type
  • Private equity sale
Exit date

04/12/2013

Exit value

£280m

Current
  • Reinvested
Re-investment date

16/11/2017

We never see an exit from a business as the end of the relationship and always take a keen interest in the progress of our former portfolio companies. We first invested in Kee Safety in 2011 and in November 2017, we backed the business for a third time following the acquisition of Kee Safety by Investcorp, a deal named ‘International Deal of the Year’ at the Midlands Dealmaker Awards.

Headquartered in Birmingham, Kee Safety is the leading provider of fall protection products and solutions associated with working at height. With a longstanding reputation for quality, reliability and safety, its expertise spans fall prevention, roof edge protection, barrier and guardrail systems and safe access solutions.

Chief Executive Chris Milburn chose to partner with LDC in 2011, looking to us to help fund an ambitious growth strategy which included product innovation, optimising and expanding routes to market, driving international expansion and augmenting organic growth with complementary acquisitions.

Commitment to long-term growth

Since the start, LDC has supported the significant growth of the business both at home and overseas, both organically and via acquisition with 11 complementary acquisitions over a period of four years.

We completed the sale of our first stake in Kee Safety in 2013 in a £90m deal with Dunedin. As part of that deal, we re-invested to further support the business’s fast growth strategy.

In 2017 the business was acquired by Investcorp and we backed it for a third time in a £280m deal that would see us continue to lend both financial support and expertise to the management team.

We established a close working relationship with the team at the time of the MBO and the business has benefited significantly.”
Chris Milburn, Chief Executive
Kee Safety

Securing strong results

In 2018 Kee Safety recorded a turnover of over £75m, up 178% from 2011, and employed more than 480 people, up 167% from 180 people over the same period.

During our partnership, the business established a strong global presence with operations in 10 countries, including the USA and China, and supplied its products across more than 60 countries worldwide.

An ongoing journey

Moving forward, we are now working with Investcorp to continue its support of Kee Safety’s international growth strategy, both organically and through a targeted acquisition programme.

Awards

International Deal of the Year

Kee Safety – Insider Midlands Dealmakers