PJD Group engineers LDC backing
A Castle Donington-based engineering company has received the first investment from LDC's £200m manufacturing commitment fund.
Mechanical engineering company PJD Group received an undisclosed cash boost from private equity firm LDC's Birmingham office.
PJD Group said the deal was struck to help further its 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.
The firm has backed 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.
Hayle said: "The replacement energy market is worth £110bn over the next ten years, so it was important for us to find the right strategic investment partner in LDC.
"This transaction will help to underpin our overall growth and development strategy as we actively seek to acquire businesses that will complement and enhance our existing service proposition."
