Banking group Lloyds’ private equity arm LDC reportedly expects to make deals worth a record £400m this year.
LDC has already invested £200m across 12 deals in 2013, which equates one in every 13 UK buyouts, said Reuters.
Earlier in July LDC backed the management buyout of Angus Fire, a manufacturer of fire fighting products and technology.
“We would do more deals if we could. Some of our best returns have come from investing during the downturn,” LDC regional director Chris Hurley told the agency.
The firm targets mid-market companies, usually investing £2m to £100m. Its current spending record of £360m was set in 2011.
In addition to its offices in the UK, LDC is using its presence in Hong Kong to give its portfolio companies access to Asian markets.
Hurley also told Reuters that being a subsidiary of Lloyds does not give it an advantage over its peers and it is judged by returns just like any other firm.
He said, “If it was just about the returns, Lloyds could put the money into other funds. They like that we are investing in SMEs. There’s good profile in doing that.”
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