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LDC backs management buyout of clothing group

Private equity firm LDC backed the management buyout of the corporate apparel business of U.S.-based Tailored Brands Inc. in a deal that values the group at £50 million.

The investment was led by LDC's John Green, John Garner, Alistair Pendleton and Richard Ibbett. LDC is the private equity arm of Lloyds Banking Group PLC and backs management teams from midsize U.K.-based companies looking for up to £100 million of investment to fund management buyouts or development capital transactions.

LDC and the management team were advised by Clearwater International, Browne Jacobson and Eversheds Sutherland.