BWML Announcement May Be Imminent

[LadyG]

I'm rather surprised to be honest as these financial institutions tend to look for high rates of return on their investment, and such returns are better found in the hi tech sector these days. Having said that,  LDC do seem to have some rather traditional companies in their portfolio. I see that LDC have already bailed out [secondary buyouts] quite a few companies.

In the normal way of things management buyouts are funded in part by using individual's assets, and while I am sure that efficiencies will be easy in the first few years due to closing certain links with CRT, I am less convinced that in the long term income can be generated to repay the loan, provide generous management salaries and make a worthwhile Return on Capital.

Good luck to those involved.

[ditchcrawler]

59 minutes ago, croftie said:

I'm with Lloyds, maybe people with a Club Lloyds account will get a 50% mooring discount ?

In my dreams......................................

Now there's a thought, Best I go and talk to my friendly bank manager. Do they still have them in branches or just insurance salesmen ?

[dmr]

When they were trying to get their hands on my redundancy/very early retirement lump sum, Lloyds kept pointing out that they are a very conservative bank. I expect they are looking for safe longer term investments rather than quick risky gambles. This at least suggests that Lloyds might see a long term future in the canal system (or in building on  the marinas).

I always think its a bit sad how the media and common wisdom regards Lloyds as a bit reckless for buying RBS, as I remember they came under massive government pressure to act against their better judgement.

 

.............Dave

[Cheshire cat]

They didn't buy RBS. They bought HBOS.

[LadyG]

I recently got a refund from Lloyds, it was not sent to my personal account, its in with some business account, there was no explanation. I guess it was something to do with money they extracted from my account about FIFTEEN or TWENTY years ago when they were some other bank. I don't know, I've yet to respond, they have a very efficient department dealing with Disgruntled Customers. Their own branch staff were taken aback but were unable to do anything about "business accounts".

My mini pension pot with Lloyds, which I sort of started off, then abandoned,  has not gone up in the last five years. I seem to remember the Co-Op bank played their ethics card, though not so much since their last fiasco.

My main pension is with Legal and General.

Edited December 17, 2018 by LadyG

[Alan de Enfield]

C&RT Announce BWML Sale Complete :

 

17 December 2018  14:00  

 

CANAL & RIVER TRUST FINALISES SALE OF BWML    

The Canal & River Trust has finalised the sale of its wholly-owned marina subsidiary, BWML, in a transaction that sees LDC invest in the business, supporting the existing management team.  

Stuart Mills, chief investment officer at the Canal & River Trust, says "We are delighted to have completed the sale of BWML and will be investing the proceeds into other income-generating assets to support our core work of caring for the nations canals & rivers".

 
BWML is performing well and we believe its prospects for future growth are good.  Coupled with the expertise of LDC we believe the business will benefit and, by extension, its boating customers will too  
 
LDC is the Uk's leading mid-market private equity investor.  It is committed to backing ambitious management teams from companies across the UK and has a portfolio of 90 businesses across a broad range of sectors.  
 
Chris Wright, Director at LDC in the South, We are excited to be able to provide the investment to support BWML's Management team in growing this established brand in order to enrich the experience of its marina users. With our support, management will focus on delivering improvements across the marina sites and add new locations to further strengthen its brand and market position.

Edited December 18, 2018 by Alan de Enfield

[Richard Fairhurst]

Perhaps, now they're owned by Lloyds, BWML will let me pay my mooring fee via Direct Debit. A revolutionary concept in 2018, I know...

[Alan de Enfield]

I'm not sure that Lloyds 'own' BWML, To me,

it appears that LDC are 'lenders' that have 'supported a MBO'.

 

1 hour ago, Alan de Enfield said:

We are excited to be able to provide the investment to support BWML's Management team

I suppose its like the bank "owning" your car because you have a loan.

[croftie]

18 minutes ago, Alan de Enfield said:

I'm not sure that Lloyds 'own' BWML, To me,

it appears that LDC are 'lenders' that have 'supported a MBO'.

 

Yup reads like a MBO to me