Lloyds TSB Development Capital makes regional promotions

The private equity arm of Lloyds TSB has made Jonathan Simm and Simon Dempsey directors of the firm's Southampton and Birmingham offices respectively.

Simm has been with Lloyds TSB Development Capital (LDC) for more than three years, during which he established the firm's Southampton office. The office has completed a number of deals including the £55m purchase of TRIM Engineering Group, an aerospace component manufacturer, by Mayflower Technical Services, and the £22m MBI of Industrial Cooling Systems.

Dempsey, also with LDC for more than three years, has led several deals for the Birmingham office including the MBO of home improvement and building products group British Home Doors in a deal totalling £29, and £25m MBO in August MBP, the UK-based minibus insurer.

LDC invests in UK mid-market transactions, and in the first half of 2001 invested £112m in 26 companies and has a portfolio worth around £1.25bn.