Alan Dick wins cash injection

Alan Dick, the wireless infrastructure specialist, has won a £17.5 million investment from Lloyds TSB.

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By  Philip Fenton Published  July 15, 2002

Wireless infrastructure specialist Alan Dick & Co. has secured funding of £17.5 million from Lloyds TSB Development Capital (LDC) in a deal which values the business at £60m.

“With continuing global demand for cellular networks, the market for our products and services will continue to expand rapidly,” said Calllum Dick, CEO. “To maximise these opportunities we need to be able to move quickly and decisively and the investment from LDC will assist us in doing this. The funding will be used to continue our overseas expansion as well as expanding the range of our service offerings.”

“Our new investment will allow us to maintain our commitment to providing our customers with the highest quality service and allow us to support them as they continue their global expansion”.

Alan Dick, the president and founder of the business, said: “The investment by LDC leaves the company well placed to capitalise on its excellent reputation and expand further. We are pleased to have found a partner to work with us in continuing to grow the business and have been encouraged by LDC’s understanding of the opportunities available to us and their understanding of the ADC approach to market and how we work with our customers around the world.”

LDC’s involvement in the transaction was led by Jonathan Simm and Carl Wormald. Simm, who joins the board as a non-executive director, said: “Technological change continues to drive the need for telecoms infrastructure. ADC is an excellent opportunity to invest in a high quality business with a global presence and a reputation for quality, innovation and reliability and a track record of significant growth in both turnover and profits. We look forward to supporting the company in its growth and continued success.”

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