​DLA Piper advises Lloyds Development Capital on MBO of Angus Fire

DLA Piper has advised Lloyds Development Capital (LDC) on the circa £62m management buyout (MBO) of Angus Fire, which was acquired from United Technology Corporation (UTC), a Fortune 500 US listed business.

The deal sees LDC take a significant equity stake in the business, which has been formed via the acquisition of four international trading divisions of Connecticut-based UTC, Angus Fire Products, Angus Fire Engineering, National Foam (US) and Eau et Feu (France).

The DLA Piper team was led by partners Nick Roome and James Kerrigan, supported by Paul Kelly, Louise Barber, Edmund Chan (UK corporate), David Thompson (UK tax), Howard Schwartz and Thomas Pilkerton III (US corporate) and Anne-Laure Bardou (France corporate).