Posted on April - 22 - 2010
Antler buyout by LDC likely ‘within days’
The on-off sale of iconic Bury-based luggage firm Antler is expected to be finally completed this week, the M.E.N. understands.
Private equity outfit LDC has re-opened talks for the business and a deal valuing Antler at over £10m is due to go through within days.
LDC had been in exclusive negotiations after edging out rival venture capital bidders and trade suitors to land Antler.
However, in accounts filed last month, Antler directors revealed they were looking at other options for the business after talks with LDC came to an end.
Now the deal is back on and the finishing touches are being applied to secure a buyout.
More than 20 potential buyers tabled offers for Antler, which is 80 per cent controlled by Barclays Private Equity after it backed a £44m secondary buyout six years ago.
Antler, based in a former cotton mill, was put on the market in the middle of last year.
It recently announced the departure of chief executive Kay Twine, who has joined Manchester fashion group Americana.
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