The directors at PDG Helicopters have completed a management buyout of at least GBP 20 million backed by LDC, a UK regional mid-market private equity house. The deal sees LDC take a majority equity stake in the business with management investing alongside and holding a substantial minority stake.

PDG Helicopters is headquartered in Inverness and employs 85 people, providing specialist aerial support services across the UK and Ireland with a specific focus on supporting infrastructure and construction projects. The company was established in 1994 following a merger between PLM Helicopters and Dollar Helicopters and operates from bases in Inverness, Glasgow, Wolverhampton and Dublin. Recent projects include the upgrade of the Beauly to Denny power line.

The buyout is led by ceo Jerry Francis, who has been with the business for almost 20 years, chairman John Forrest and non-executive Jim Wilson. “This deal illustrates our ongoing commitment to back Scottish businesses and support the country's leading management teams in supporting their long term growth ambitions,” says head of LDC Scotland Mark Kerr.

“Jerry and the rest of the PDG management team have done a great job over the last few years transforming it into the clear market leader in its field, providing a range of specialist inspection and construction-related aerial services. It has the largest helicopter fleet of its kind in the UK and a national footprint differentiating it from many smaller players.

“The company has significant potential to further increase its presence and capitalise on the growing demand for aerial support from utilities and on large infrastructure projects.”

Adds Francis: “LDC's investment provides the financial and strategic support to help us capitalise on increased demand and to increase our fleet to service this demand more effectively.”