LDC backs renewables group
Monday 21 December 2009
Lloyds Development Capital (LDC), the private equity arm of the Lloyds Banking Group, has sunk £17 million into Subocean, the Aberdeen-based renewables group.
The deal, part of a £42 million raising by the company, is one of the biggest private equity deals that's take place in Scotland this year.
LDC’s stake values Subocean Group at £75 million. The company plans to use the money to expand its presence in renewables, offshore wind farms and the oil and gas markets. It also plans to expand abroad.
Today’s deal is LDC’s first investment in Scotland since it opened offices in Edinburgh and Aberdeen last year, and is the fifteenth investment nationally in 2009.
- 2 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 4 University student in court for allegedly covering housemates' food in window cleaner and spit
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...