ELEY Limited announces expansion following acquisition by LDC in £42 million buy-out.
ELEY are delighted to announce that they have been acquired by LDC in a 42 million deal. LDC are private equity specialists with a 30 year history of supporting management buy-outs, equity release (cash out), development (DevCap) and acquisition finance transactions. Andrew Lane, Managing Director of the acquired business, said: “While ELEY’s growth has been strong over the past few years, IMI is now focused on specialist flow control activities. In LDC we have found an investor that has similarly ambitious targets and who fully buys into our business plan and development strategy. As a result of this deal, we are able to confirm that fresh capital expenditure at the site will see production increased, that a new round will be launched and that a further test facility will be opened in the strategically important Scandinavian market-place.” ELEY has grown in recent years and it now has 122 employees, mainly in operations, manufacturing and distribution. Eley was founded in 1826 by the Eley Brothers and moved to the Birmingham area after World War I. A division of Nobel Explosives, it eventually became a subsidiary of ICI in 1926. It later formed part of the IMI metals division that was separated from ICI in 1977. Following this deal with LDC, it is once again an independent company. ELEY have never been is such a strong position with all of the Gold medallists at the 2014 World Championships and all the current no.1 world ranked shooters shooting ELEY ammunition. Together with LDC ELEY are excited about the future.