Lead Forensics

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 10 years.

Sector
  • Industrials

Kee Safety is the leading provider of fall protection equipment.

Deal type
  • Management buyout
Deal value

£90m

Exit type
  • Private equity sale
Exit date

April 2021

Re-investment date

November 2017

We supported the international growth strategy of Kee Safety over ten years, reinvesting multiple times to continue our backing of leader Chris Milburn. We first invested in Kee Safety in 2011 and in 2017, 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, before exiting fully in 2021.

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.

A 10-year partnership

LDC exited its investment in Kee Safety in 2021. The deal marked the end of a successful 10-year partnership during which LDC supported the management team to increase revenues to more than £100m, an increase of more than 350 per cent since the start of the partnership, as well as helping Kee Safety to increase headcount to 780 people across 10 countries, an increase of more than 400 per cent over the same period.

LDC worked with management to drive growth organically and through a targeted buy-and-build strategy. This has included the acquisition of 27 complementary businesses over the last 10 years, helping to expand its products and services and grow its international footprint in Europe, North America, Asia and the Middle East.

orange quote mark
LDC has played a significant role in supporting our international growth strategy, investing time and resources since they first invested back in 2011. Their partnership with us has been crucial to the on-going success of our business and has provided us with the perfect platform to enhance our global market-leading position.”
Chris Milburn, Chairman
Kee Safety

Awards

International Deal of the Year

Kee Safety – Insider Midlands Dealmakers