PJD Group, a Castle Donnington, UK-based independent mechanical engineering specialist, has received a private equity investment from LDC.
The investment is expected to help the company grow organically and through acquistions.
HSBC Corporate and Structured Banking continue to provide debt funding to PJD following on from their support for the original Management Buyout led by current CEO David Hayle in 2007, a shareholder restructuring in 2009, and the acquisition of Grayton Engineering in 2010.
Established in 1985 by Peter Douglas, who will remain on the board as a Non-Executive Director following the transaction, and led by CEO David Hayle, PJD provides repair, maintenance, manufacturing, upgrade and installation services across the power, environmental and industrial markets. The company is focused on the following three areas:
– PJD Power, which provides services to the coal, gas and nuclear power and plants sectors;
– PJD Environmental, which provides services to the emerging renewable energy industry and biomass generation; and
– Grayton Engineering, which operates within the cement, chemical, refineries and steel industries.
The company employs over 250 full time staff.
In conjunction with the investment, LDC Director John Garner will join PJD’s board.
The transaction represents the first deal of LDC’s recently launched £200m manufacturing and specialist engineering commitment – an initiative focused on supporting businesses with specialist manufacturing capabilities across a range of niche sectors including power generation, aerospace, defence and oil and gas.
FinSMEs
09/12/2011