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LDC acquires ELE Advanced Technologies

U.K.-based private equity firm LDC (Managers) Ltd. acquired ELE Advanced Technologies Ltd from venture capital firms Albion Capital Group LLP and Maven Capital Partners UK LLP.

Financial terms of the deal were not disclosed.

ELE Advanced Technologies is a U.K.-based manufacturer of specialist components for the aerospace, industrial gas turbines and commercial diesel sectors.

The deal was led by LDC's Chris Handy and Rob Schofield, who will join ELE's board as nonexecutive directors. Dave Johnson will also join the board as nonexecutive chairman.

LDC was advised by Springboard in connection with the deal. Albion Capital and Maven Capital Partners were advised by Livingstone, while Lloyds Bank offered debt facilities.

LDC is the private equity arm of Lloyds Banking Group. It targets middle-market companies seeking investments of up to £100 million.