New regional head of Lloyds private equity arm
THE private equity arm of Lloyds Bank has announced a new office head for the West Midlands region.
Chris Handy will now lead the team based in Birmingham, having joined LDC (Lloyds Development Capital) eight years ago following a 20-year career in industry which included operational and financial leadership roles with Rolls-Royce.
He also has ten years of experience in PwC’s corporate advisory team in the Midlands.
His appointment is mirrored in the East Midlands as David Bains will head up that region from the firm’s office in Nottingham.
The pair will replace current head of the Midlands Richard Whitwell who is retiring in March after leading the region for the past three and a half years.
He has enjoyed a ten-year career with LDC and more than 30 years in the industry.
The promotions are part of LDC’s plans to expand its presence and support for mid-market businesses across the Midlands.
Last year, the company completed 20 transactions in the Midlands with a combined value of more than £1.6 billion including investments in fine food manufacturer and distributor Bramble, mobility solutions provider Kingswood and global manufacturer of ultraviolet technology BioZone Scientific.
Successful exits during the same period include holiday park operator Away Resorts and fall protection specialist Kee Safety.
Chief executive Toby Rougier said: “The Midlands is heartland territory for LDC and a region where we have a 40-year track record of helping businesses to grow.
“Richard has done a great job of leading our activities, portfolio and teams here in recent years and we wish him all the very best following his retirement from LDC.
“We’re committed to increasing our presence across the region and enabling more management teams to access the capital and support needed to realise their ambitions.
“Promoting Chris and David into their respective roles will help us to continue to deliver on that commitment.
“Both are experienced investors and have a clear mandate to recruit into their teams and to grow our business across the Midlands.”