Following negotiations over recent months, the Directors of Express Engineering are pleased to announce the completion of a deal to secure Private Equity investment into Express Engineering from Lloyds Development Capital (LDC), part of the Lloyds Banking Group.
LDC’s investment provides development capital for investment in the expansion of our UK and Brazil operations, to satisfy the growing international demand for high integrity, precision engineered products from the Aerospace and Oil & Gas markets.
Current Management and existing Shareholders will remain in the business and retain control of the newly formed Group (shown below), with LDC becoming a significant minority shareholder.
To support their investment, two Executives from LDC will join the Board of Directors of Express Engineering Group. Chris Thompson has been appointed Chairman of the Board of Directors, and will be joined by Nigel Davison and Mike Blakey.
Your existing Senior Management contacts will continue to manage the individual businesses within the new Group structure, and over the coming weeks, they will be contacting you to communicate more detailed information about the growth plan, and the specific investments for each location and business unit, and would welcome the opportunity to discuss any specific capacity or capability constraints they may be able to address.
In the mean-time, if you have any questions regarding this announcement please do not hesitate to contact me.