The private equity arm of Lloyds Banking Group, LDC, has invested an additional £8.3m into Microlease, a European provider of rental and asset management services to the test equipment market.
LDC initially backed a £30m MBO of Microlease in 2006 which was led by CEO Nigel Brown. Based in the UK, Microlease operates across Europe, Africa and the Middle East as well as the Americas.
Director of Microlease, Nigel Brown said: “LDC’s input and close partnership with the management team has been critical to the formation of a growth plan which will see Microlease increase its ability to support customers and suppliers.”
This is the second investment LDC has made in under a month. In July, the private equity firm invested £5.9m to back the management buyout of Modelzone, a UK retailer in the model and hobby sector.