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PRINT THIS PAGE LDC sells Britton Group to HSBC Private Equity for £77m 05/03/2008. Source: AltAssets. 
UK mid-market private equity firm LDC has exited its investment in UK-based extrusion and plastic packaging manufacturer Britton Group through a £77m secondary buy-out backed by HSBC Private Equity and HSBC Bank. Company management, headed by chief executive Mike Clark, will retain a stake in the group. As part of the deal, Mahmoud Atalla, head of HSBC Private Equity (UK), will join the board of Britton.
LDC backed a £42m MBO of Britton in 2004.
Britton produces 80,000 tonnes of plastic film and converted products each year. The company has three divisions throughout the UK and employs some 657 staff.
Mark Freer, director at LDC, said, 'Since our investment, Britton has continued to enhance its position in the European packaging market and its success is based on the entrepreneurial spirit engrained in the business. We have thoroughly enjoyed working with a strong and committed management team that will continue to drive growth in this next stage of the company's development.'
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