LDC, the private equity division of Lloyds Banking Group, has invested in the UK-based independent mechanical engineering specialist PJD Group.
PJD, established in 1985 by Peter Douglas, provides a wide range of repair, maintenance, manufacturing, upgrade and installation services across the power, environmental and industrial markets and employs over 250 full time staff.
As part of the transaction, David Hayle will remain as PJD’s CEO and Douglas will remain on the board as a non-executive director.
Hayle said that the replacement energy market is worth £110 billion over the next 10 years, so it was important for them 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," added Hayle.
LDC director John Garner said that by working closely alongside PJD’s highly experienced management team they intend to target strategic acquisitions to help accelerate the company’s growth prospects in existing and new market sectors.