The management of fire fighting product manufacturer Angus Fire completed a £62million buyout backed by LDC and advised on by Clearwater Corporate Finance.
LDC acquired a significant equity stake in the business, which was formed via the acquisition of four international trading divisions of US-based United Technology Corporation.
Angus Fire, which has sites near Lancaster and in Oxfordshire, designs and manufactures fire hoses, industrial hoses, foam concentrates and engineered fire fighting systems. The company was established more than 100 years ago and now employs over 250 people.
A team at Clearwater’s Manchester office, led by director John Clarke, advised Angus Fire’s management on the transaction.
John Clarke said: “Angus Fire is an established leader in fire fighting technology and a great British manufacturing success story. The business has significant potential to increase market share in emerging markets, such as the Middle East and the growing US hydrofracking market. LDC’s backing will accelerate this strategy.”