Mid-market private equity firm Lloyds Development Capital (LDC) has acquired a majority stake in the information storage company Sala International for £11.5 million.
The transaction was led by LDC Director Yann Souillard, who will sit on the Sala board, along with the newly appointed CEO, Tomas Gronager.
The deal follows the recent sale by LDC of British Salt for £93 million in December.
Sala International is a document archiving and records storage business for physical and digital records. It operates in sectors such as financial services and healthcare, for clients including NHS trusts. Founded in 1994, the Essex-based company recently opened a new facility close to Leeds.
LDC is the mid-market private equity arm of Lloyds Banking Group. The firm invests in UK-based companies seeking between £2 million and £100 million for buy-outs and development capital.