Buy Side Advisor
Duff & Phelps Advised LDC on its Acquisition of Magicard from Ultra Electronics
In May 2016, Lloyds Development Capital (“LDC”) announced the acquisition of Magicard, a leading global ID cards business, from Ultra Electronics Holdings plc (“Ultra”).
The Duff & Phelps M&A team provided buy-side advisory services to LDC to complete the carve-out deal. The UK industrial team’s knowledge of the security card market and understanding of the business, together with their detailed financial input into the business plan resulted in an effectively managed buy-side process.
Gordon Hague, Investment Director at LDC, commented:
“It was a pleasure to work with Duff & Phelps from start to finish. They played a critical role in unlocking the underlying values of the business. We were grateful for their market insights and tireless efforts in managing the process, particularly during the accelerated diligence period.”
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. Headquartered in the UK with an installed base of more than 70,000 employees, it has operations across the world. Magicard’s products are trusted by major global private sector companies and governments, including the G20 summit and NHS England, who use Magicard for issuing staff identity cards.
Established in 1981, LDC is a leading player in the private equity mid-market and specializes in investments of up to £100m of funds for buyouts and development capital transactions in UK unquoted companies. With over three decades of experience and the backing of Lloyds Banking Group as a parent company, it has completed 500 investments and accumulated a wealth of business expertise across the industrials, TMT, support services, retail and consumer, travel and leisure, healthcare, construction and property and financial services arenas.