The head of private-equity house LDC in Yorkshire has defended the firm’s growth amid criticism that the firm’s partners have nothing to lose by continuing to make new investments through the downturn because of the way they are remunerated. Directors at LDC are understood to be rewarded for each deal done rather than based on the overall performance of the portfolio, and hackles have been raised within the industry because LDC is owned by the part state-owned Lloyds Banking Group. But John Swarbrick, head of LDC in Yorkshire and Insider’s Yorkshire Dealmaker of the Year last year, defended the firm’s continued growth. “We have a three-year strategic plan which involves increasing the levels of investment we make year on year, which is what we have done over the last ten years I have worked for LDC. That plan is driven by LDC’s senior executive and not by any other external influence.” In 2009, LDC invested £200m in businesses nationally with a total enterprise value of more than £500m. Swarbrick’s most recent deal was an investment in training provider JHP.

Billington Holdings, the Barnsley structural steel and engineering company, has been awarded the contract to provide the steelwork package for construction firm Mace Group on the £70m Cafe Royal project in Piccadilly, London. Preliminary surveying is under way on the £3.1m contract, which involves 1,200 tonnes of structural steel for the five-star hotel.

Webasto, a designer and manufacturer of automotive interior heating and cooling systems based in Doncaster, has been appointed the sole and exclusive UK distributor for the Spheros product range. Spheros is a global player in the development and manufacture of engine-independent coach and bus heating systems, water pumps, air conditioners, roof hatches and complete climate-control systems. Phil Hankin, Webasto’s managing director, said the appointment would increase its appeal to the coach and bus market. Webasto has also appointed Sewell of Leeds as a product dealer for the coach & bus market.

Sheffield manufacturer Gripple has bought a 120,000 sq ft manufacturing complex in the city’s Lower Don Valley. The former home of McAlloy, off Hawke Street, was sold on behalf of national asset management company Chancerygate Asset Management by agency Campbell and Company.

RTI International has opened a new office at Velocity House in Sheffield in order to expand its UK presence and grow its RTI Health Solutions business unit. RTI Health Solutions provides research and consulting services to help global pharmaceutical, biotechnology and medical device companies develop and commercialise their products. Dr Allen Mangel, executive vice-president of RTI Health Solutions, said: “We strategically placed this office to allow optimal collaboration with some of the world's leading expert outcome scientists. We also anticipate the opening of a second new European office within the next few months.”