The private equity division of Lloyds Banking Group has stepped up its commitment to the North East with the opening of a new office in Newcastle.
LDC, which has a regional network of 50 investment professionals includes teams in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, London, Manchester, Nottingham and Reading, is moving into 50 Grey Street, where Lloyds Banking Group is also relocating.
LDC said the new office signals its ambition to support the growth of mid-market businesses in every region by deploying additional capital and resource on the ground.
Based in the newly-revamped 50 Grey Street, now called Malhotra House, the new office covers 3,000sq ft and will provide a permanent presence for the firm in the North East.
LDC has already had significant success of working with companies based in Newcastle and the North East, including partnerships with Aesica, Quantum Pharma and ZyroFisher.
The firm currently has over £100m invested in portfolio companies across the region including Newcastle-based NBS and Northumberland-headquartered Mandata.
Gareth Marshall has been promoted to head of Newcastle to lead the new office. He will be joined by origination director Zara Lane and newly appointed investment director Mike Barker.
Mr Barker joins LDC with more than 20 years’ experience, having run his own advisory firm, led corporate development for a PLC and spent 12 years at Deloitte.
The team will continue to identify investment opportunities to further LDC’s support of ambitious management teams across the North East.
Martin Draper, chief executive of LDC, said: “The North East is an increasingly attractive proposition for private equity investors so opening a new office in Newcastle and extending our team felt like the perfect way for us to cement our commitment to the region.
“We see growth prospects across all corners of the Ƶ, and our market-leading regional presence means we’re on the ground, prepared to deploy more of our capital and unique expertise to help business leaders capitalise on what is set to be a year of opportunity.
“This is an exciting new phase in our expansion, demonstrating commitment to our market-leading regional business model.”
Gareth Marshall, head of Newcastle at LDC, said: “We’ve been active in the North East for more than 15 years. Indeed our team all live in Newcastle so we understand the importance of local knowledge and connections, and we recognise the strength of mid-market businesses and the corporate finance community already here.
“This is the first time the Ƶ’s leading regional mid-market private equity business will have a permanent presence in the North East. It’s an exciting step that demonstrates our belief in the North East market.
“The decision to open an office was an obvious one, meaning we’re even better placed to support the ambitions of management teams keen to take the next step on their growth journey.”
