Private equity investor LDC has increased its stake in aviation consultancy Ascend, doubling its investment in the company to £12 million.

Private equity investor LDC has increased its stake in aviation consultancy Ascend, doubling its investment in the company to £12 million.

LDC director Yann Souillard says the company, which provides data and advice to investors who finance aircraft, has ‘consistently been one of the best performers in our portfolio’ with revenues rising by 20 per cent per annum over the past three years.

The firm backed the £10 million management buy-out of Ascend in 2005, recruiting a management team to spin the business out of insurance company Airclaims.

In the past 18 months Ascend has opened offices in London, New York and Hong Kong.

Gehan Talwatte, Ascend’s MD, comments, ‘We now have an established presence in the high-growth Chinese market and will use the extra commitment from LDC to capitalise on new opportunities around the world as economic and business conditions improve.’

Talwatte adds that Ascend will pursue ‘tactical acquisitions’.