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LDC does double deal

LDC has backed the management buyout of print and packaging business Benson Group, while simultaneously selling American Golf to Sun European Partners.

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LDC has backed the management buyout of print and packaging business Benson Group, while simultaneously selling American Golf to Sun European Partners. Neither transaction amounts were disclosed.

The Benson investment came from LDC's £200m (€239m) manufacturing and specialist engineering fund.

Benson is a UK manufacturer of printed folding carton board packaging to the food and retail sector, as well as producing cartons, patient information leaflets and labels for pharmaceutical clients.

Headquartered in Bardon, Leicestershire, Benson was established in the 1920s and operates through manufacturing sites in Newcastle, Gateshead and Crewe. LDC's investment enables two principal Benson family shareholders to relinquish their stakes in the business.

The mid-market buyout house also sold its majority shareholding in European golfing retailer American Golf, to Sun European Partners.

American Golf is a multi-channel retailer of golf equipment and accessories, with 88 stores across the UK and Ireland as well as an online presence.

Last year the company reported sales of £86.6m, an increase of 20 per cent. Like-for-like sales in the current financial year ending January 2012 have also risen.

LDC initially backed the management buyout of American Golf in 2004. Since then the number of stores has increased from 50 to 88. In March last year the business acquired SW Golf, the operator of the onlinegolf.com brands. Profits at the company have risen by 250 per cent since 2010. 

Picture: Source