A Black Country maintenance firm has taken on a new private equity backer.
Kingswinford-based Deltron Group has welcomed the undisclosed minority investment from LDC, the private equity arm of Lloyds Banking Group.
Deltron maintains and repairs elevators, service lifts and stairlifts to improve their safety, performance and lifespan.
Employing 94 people, the business maintains 9,000 units across the 海角视频, with more than 1,700 customers across the public and private sectors, including housing associations, local authorities, hospitals and property and facilities management firms.
LDC's investment will help it support investment in its services and further acquisitions.
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Duncan Cooper will join as a non-executive chairman, bringing experience of supporting the growth of companies in the manufacturing and engineering sectors including 19 years at global water pump manufacturer Grundfos.
Deltron's existing directors Scott Haywood and Lukas Schlenker will continue in post following the investment by LDC.
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Mr Haywood said: "Our target market is growing, driven by increasing urbanisation and the need for the efficient flow of people and goods through densely populated areas.
"However, with this also comes a need for trusted, expert maintenance services to ensure elevators, service lifts, stairlifts and other products are operating effectively, safe for users and that organisations are compliant with all relevant standards."
Matt Newbold, LDC's investment director in the West Midlands, added: "We've built a great relationship with Scott and Lukas - two dynamic leaders who, together with their management team, have built a business with a fantastic culture and a strong operating model that's respected across the market.
"The company is perfectly positioned for further growth and we look forward to working with them to support the next phase of their journey."
Advisers on the deal were BDO, Clearwater, Gateley, Higgs and PMSI.