TXM Plant has completed a management buy-out backed by private equity firm LDC.

UK: Road-rail equipment provider TXM Plant has completed a management buy-out, backed by mid-market private equity firm LDC for an undisclosed sum. TXM Plant said it has more than doubled its turnover to £45m in the last three years, and it plans to accelerate its growth by investing in its fleet and expanding its range of value-added services.

The buy-out was led by Managing Director Gareth Richardson, Business Development Director Rob Killen and Finance Director Patrick Matthews. As part of the transaction, former Network Rail director Keith Ludeman has joined as non-executive Chairman.

‘After a period of solid growth, now was the right time to accelerate the next stage of the business’ growth journey’, said Richardson on May 12. ‘LDC has an impressive track record of supporting management teams and the deal provides us with the platform to cement our market-leading position.’

LDC was advised by Clearwater International, Eversheds, KPMG and PwC, while TXM Plant was advised by EMW and Bluebox Corporate Finance.