PJD Group engineers LDC backing
The Birmingham office of LDC has invested in mechanical engineering company PJD Group. It is the first transaction to be completed from LDC's £200m manufacturing fund.
Private equity company LDC has invested an undisclosed sum into Castle Donington-based PJD Group to support the company's 'buy-and-build approach' to growth.
The transaction represents LDC’s first deal completion using capital from its recently launched manufacturing and specialist engineering commitment.
The £200m fund focuses on supporting businesses with specialist manufacturing capabilities across a range of sectors including power generation, aerospace, defence and oil and gas.
Established in 1985, PJD provides a range of repair and installation services across the power, environmental and industrial markets and employs more than 250 full time staff.
LDC is backing PJD's existing management team, which is led by chief executive David Hayle. PJD's founder Peter Douglas will remain on the board as a non-executive director.
The deal was led by LDC director John Garner and investment director Matthew Norrington. Garner will join the board with immediate effect.
He said: "In PJD, we are backing a market leading business which is well placed within each of its key sectors to deliver strong organic and acquisitive growth.
"By working closely alongside PJD's highly experienced management team we intend to target strategic acquisitions to help accelerate the company’s growth prospects in existing and new market sectors."
