LDC backs Antler MBO

LDC has backed the management buy-out of luggage producer Antler.


LDC has backed the management buy-out of luggage producer Antler.

LDC has backed the management buy-out of luggage producer Antler.

The Lancashire-based firm, which has offices in the US and China and annual global sales of £40 million, produces suitcases and luggage under the Antler brand, as well as under the labels Revelation, Bramble & Brown and Gracie Mae. The MBO was for an undisclosed sum.

In addition to the deal, David Benjamin has been appointed CEO, and Terry Stannard appointed non-executive chairman.

Chris Hurley, investment director at LDC, says: ‘Its resilience – having retained its market share in one of the worst climates for consumer goods in several decades and consistently delivered good underlying profits – is a clear signal of its strengths. Now, with the right financial headroom to execute its growth strategy, the company is well placed to take advantage of a recovery in the sector and fulfil its potential at home and overseas.’

The sale process was managed by KPMG and additional funding was provided by Lloyds TSB Corporate Markets.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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