Investment in lift repair business
LDC has made a minority investment in a Kingswinford-based lift repair specialist, with plans to boost its ambitious growth strategy.
Deltron on the Pensnett Estate maintains and repairs elevators, service lifts and stairlifts to improve their safety, performance and lifespan.
The firm employs 94 staff who maintain 9,000 units across the UK, with more than 1,700 customers across both the public and private sectors, including housing associations, local authorities, hospitals and property and facilities management firms.
LDC says its investment will help Deltron accelerate an ambitious strategy underpinned by investment in its services and complementary acquisitions. Over the last two years, Deltron has delivered significant year-on-year growth and with LDC’s support, the management team plans to build on this momentum by scaling and expanding across the UK.
It’s backing Deltron’s existing management team, led by directors Scott Haywood and Lukas Schlenker.
Duncan Cooper will join as a non-executive chairman, bringing a wealth of experience supporting the growth of companies in the manufacturing and engineering sectors. This includes 19 years at Grundfos Pumps, a global water pump manufacturer with an aftermarket pump repair division, where he served in a number of executive positions, including as its managing director for Western Europe and the Americas.
Mr Haywood said: “Our target market is growing, driven by increasing urbanisation and the need for the efficient flow of people and goods through densely populated areas. However, with this also comes a need for trusted, expert maintenance services to ensure elevators, service lifts, stairlifts and other products are operating effectively, safe for users and that organisations are compliant with all relevant standards.”
Mr Schlenker added: “We were really impressed by the team at LDC. Their experience supporting businesses just like ours here in the West Midlands, and their ability to continue to invest to support our growth ambitions makes them the perfect partner as we look to scale. For us, it’s businesses as usual, but now with an expanded team and even more experience on board.”
The transaction was led by LDC’s West Midlands team, including investment director Matt Newbold, investment manager Demetri Theofanou and partner and head of the West Midlands Chris Handy.
Matt Newbold, investment director at LDC in the West Midlands, added: “We’ve built a great relationship with Scott and Lukas – two dynamic leaders who, together with their management team, have built a business with a fantastic culture and a strong operating model, that’s respected across the market. The company is perfectly positioned for further growth, and we look forward to working with them to support the next phase of their journey.”
LDC has a successful track record in supporting businesses like Deltron. Since 2012, the firm has invested £747 million into 14 business services firms, backing management teams to achieve their ambitions.
