LDC backs £10.5m Dale Power buyout

STATE-BACKED private equity firm LDC has invested £10.5million for a significant stake in the management buy-out of Scarborough-headquartered Dale Power Solutions.

It bought the shareholding from listed electronics business TT electronics plc.

Dale Power Solutions was established more than 75 years ago and operates through two established brands, Dale and Erskine.

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It provides secure power and business continuity solutions to major national and international customers in the petro-chem, telecommunications, rail, financial services and industrial sectors.

Tim Wilkins, Dale Power chief executive, said: “LDC’s investment brings additional strategic input and financial backing to our business and will help us to deliver our ambitious growth plans.

“As well as increasing the pace of organic growth across our core brands, we are keen to pursue appropriate acquisition opportunities both in the UK and internationally and in related product areas.”

LDC is part of Lloyds, the taxpayer-supported bank.