LDC has backed the management buyout (MBO) of a corporate clothing group with operations in the West Country as part of a £50m deal.
US-headquartered Tailored Brands comprises catalogue garments specialist Alexandra, which is based in Bristol.
The group also includes East Midlands-based Dimensions, Yaffy, based in Glasgow, and US corporate workwear provider Twin Hill.
Tailored Brands employs 800 staff across its bases and is on target to turnover £150m in its current financial year.
LDC is backing the current management team – executive chairman Stuart Graham, group chief financial officer Morgan Atherton, Dimensions managing director Hayley Brooks, and Alexandra managing director Martin Lyne.
The company is now planning to invest in its service lines and infrastructure.
Graham said: "We have been part of Tailored Brands for almost a decade and during that time we have built our business into a truly global player.
"With LDC as our growth partner, we can focus on investing in our proposition, take our market-leading products and service to more customers at home and overseas, and ensure our business has solid foundations for future growth."
The investment was led by LDC’s John Green, John Garner, Alistair Pendleton and Richard Ibbett.
Green, investment director at LDC in Nottingham, said: "Every day more than four million people go to work in a uniform that has been produced by the group and that is a direct result of the ambition, hard work and dedication of the management team.
"Together they have built a business that is rooted in quality and a commitment to client service, and given the group’s scale and geographic footprint there is a huge opportunity to take the group to the next level.
"Our investment and support will now enable the team to inject capital into key growth areas and drive further expansion. We’re looking forward to helping them on the next phase of their journey."
LDC was advised by Clearwater International, Browne Jacobson and Eversheds Sutherland. Debt facilities were provided by PNC Business Credit.
Rob Burden, partner at Clearwater International added: "We were delighted to work with such a talented team to help them achieve their ambitions."
Legal advice was provided to the MBO team and Newco by Browne Jacobson along with US firm Troutman Sanders LLP.
Eversheds Sutherland advised LDC and Taylor Wessing advised PNC. Commercial due diligence was provided by LEK Consulting with financial and tax due diligence by KPMG.