LDC invests in Birmingham safety giant
Private equity firm LDC has invested in Birmingham-based Kee Safety, a provider of safety solutions. The company said LDC’s investment will help support the roll-out of new products, further expansion of international markets and future acquisitions.
Kee Safety operates through a number of internationally recognised brands including KeeGuard, Kee Line, Kee Walk, Kee Access and Kee Klamp.
The company employs about 180 staff and exports to more than 35 countries. In addition to its Birmingham base, the business also operates from Reading and Cradley Heath. It also has overseas operations in the USA, Canada, Germany and France.
The Kee Safety deal was transacted by LDC Midlands’ managing director Martin Draper alongside investment bankers Andy Lyndon, Chris Hurley and Matthew Norrington.
Martin Draper and Andy Lyndon will now join the Kee Safety board.
Draper said: “In Kee Safety, we are partnering with a high-quality management team and a business which has a strong platform from which to grow. The business has a global reputation for innovative safety solutions and is a true market leader. Going forward, we will work closely with the team to identify acquisition opportunities to deliver further growth.
“This represents our third investment in 2011, following on from our successful exit and reinvestment into Integrated Dental Holdings and the acquisition of Hi Level Platforms by portfolio company Kimberly Access. This level of investment momentum confirms our long term commitment to supporting regionally based mid market businesses with ambitious growth plans.”
The transaction was completed with support from several Midlands-based advisers including Eversheds which acted as legal adviser to LDC and Browne Jacobson, which advised Kee Safety’s management team. Grant Thornton provided financial due diligence and PwC provided commercial due diligence on the deal.
Debt funding was provided by Lloyds Bank Corporate Markets Acquisition Finance, with legal advice from Wragge & Co.
