PE firm LDC expects windfall from Matrix buyout

By Rizza Sta. Ana

Sep 07, 2013 07:31 AM EDT

According to an online post on the Yorkshire Post, Germany's E.ON purchase of energy management group Matrix and its parent company Green Sky Energy would provide a windfall for private equity firm LDC. LDC invested GBP10 million to purchase a significant stake in Matrix in a March 2010 buyout. Financial information regarding LDC's exit were not disclosed.

LDC was launched in 1981. Since its launched, it has completed more than 440 investments and manages a 60-business unit portfolio across the UK. Its portfolio is worth over GBP2 billion. It's parent company is the Lloyds Banking Group.

LDC, who has a base office in Leeds, England, disclosed that Matrix's revenues doubled in recent years. Matrix earned GBP54 million in 2012 from GBP25 million in 2010. Matrix supports customers in 22 countries all over the world with its nine regional offices located over UK. The company also has an energy management center located in Glasgow. Matrix would still be operating as an independent entity under E.ON's global unit called E.ON Connecting Energies.

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