Home Business NewsBusiness LDC gets green light for ID cards deal

LDC gets green light for ID cards deal

by LLB Reporter
26th Aug 16 9:53 am

Deal of the day

LDC has completed its acquisition of the global ID card business of FTSE250-listed Ultra Electronics Group after the deal received US regulatory approval.

LDC, the mid-market private equity investing arm of Lloyds Banking Group, backed the £22m (US$29m) management buyout of the business in May.

Ultra said in a statement on August 24 that it has completed the sale of Ultra Electronics ID, which will now operate as Magicard Ltd.

Founded in 1992, Magicard is one of the World’s leading manufacturers of secure desktop ID card printers, software and related consumables for the identity and access control markets.

More than 70% per cent of the £19.3m revenues of Weymouth, Dorset-based Magicard come from international markets, where it sells to more than 100 countries.

LDC said its expects the global market for secure desktop ID printers to grow at a CAGR of 6% between 2014 and 2019.

The MBO, announced on May 24, saw senior members of Magicard’s management team led by CEO Andy Matko acquire a minority shareholding, with LDC taking a majority stake.

In the same month, LDC also backed the management buyout of CIPHR, a leading vendor of human capital management (HCM) software.

This story first appeared on Acquisitions Daily, a leading publication that provides critical comment, analysis and statistics on every important issue in acquisitions, mergers and buyouts. Sign up here for a free trial.

 

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]