Mid-market private equity investor LDC has backed the £22.5m MBO of Precision Micro Ltd, a photo-chemical etching company, from global aerospace, defence and energy group Meggitt PLC.

As part of the deal, LDC, the private equity arm of Lloyds Banking Group, has invested £13m of equity for a significant stake in the company, supporting a management team led by current managing director Ian McMurray. Operating from its plant in Erdington, Birmingham, Precision Micro manufactures more than 50 million precision metal components each year for global customers across multiple markets.
For further information www.precisionmicro.com