Management acquires Direct Group in £40m deal
A buyout backed with finance from private equity firm LDC has seen Direct Group's management acquire...
A buyout backed with finance from private equity firm LDC has seen Direct Group's management acquire the broker for £40m.
LDC invested £21.3m in the move, with the balance of equity being held by first- and second-tier management teams. According to Derek Coles and Scott Hough, chief executive and commercial director respectively at the group, the MBO will provide a key step in enabling the intermediary to develop its technology and business platform and deliver a sustainable income for its
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