LDC, the private equity arm of Lloyds Banking Group, has completed the management buy-out of Leicestershire-based Benson Group, a manufacturer of printed folding carton and sleeve packaging.
Benson Group employs over 900 staff and operates from its head office in Bardon in Leicestershire, as well as located manufacturing sites in Newcastle, Gateshead and Crewe.
LDC’s investment facilitates the exit of the two principal Benson family shareholders from the business and will help to support the management team’s growth strategy.
LDC investment director Andy Grove and Martin Draper, LDC’s UK new business managing director, will both join the board with immediate effect.
Grove said that this deal represents the 8th transaction completed by LDC’s Midlands’ team in 2011 and confirms our long term commitment to supporting regionally based mid-market businesses with ambitious growth plans.