Blake Morgan advises LDC on investment in Idwal Marine Services
Leading law firm Blake Morgan advised the Wales & South West team of private equity investor LDC on its significant investment in Idwal Marine Services (Idwal), a leading provider of tech-enabled inspection services for the global commercial shipping sector.
The private equity arm of Lloyds Banking Group, LDC specialises in investing in mid-market UK headquartered businesses. It is committed to backing 100 new management teams over the next five years.
Established in 2010, Cardiff-based Idwal provides vessel condition and integrity inspection services, fleet monitoring and data services for customers across the marine industry. It is used by ship owners, brokers, ship operators, flag states, investors and other financial stakeholders when evaluating investments or divestments in marine assets and assessing the condition of vessels and fleets.
Idwal has grown quickly under CEO Nick Owens due to increased demand from its global customers and its focus on consistency, integrity and data-led inspections in the global maritime sector.
The certified carbon-neutral organisation was the first in the industry to include decarbonisation metrics, crew welfare, and working condition data in its reports. It also provides advanced ESG reporting to ensure that its customers meet increasingly stringent sector-wide environmental reporting requirements.
With LDC’s support, Idwal’s management team will further develop the platform, data and service provision and expand its network of overseas offices, which already includes China, Greece and Japan.
Blake Morgan’s corporate team, led by Richard Jones, advised LDC on their investment and provided legal due diligence services, thanks to its understanding of Idwal’s unique IP, assets and growth potential.
Blake Morgan Corporate Partner Richard Jones commented:
It has been a privilege to support LDC with this exciting investment. Idwal is a globally respected business with a reputation for sustainable and innovative services in an evolving marketplace. Thanks to LDC’s investment, it can further develop its technology platform and penetrate overseas markets. This will enable the management team to fulfil their ambition to make Idwal the global leader and the Idwal Grade the pre-eminent standard in the international commercial shipping market. We wish the team every success as Idwal moves forward into the exciting next growth phase.
This deal builds on Blake Morgan’s significant experience supporting private equity firms through their investment process, applying corporate transaction experience and strength and depth found within the commercial team.
The Blake Morgan core team comprised Richard Jones, James Vaughan (corporate), Sara Trevor (corporate), Rhian Davies (banking and finance), Paul Duggan (banking and finance), Natalie Lawley (real estate), Hannah Waterworth (employment) and Jo Davies (employment) together with support from wider specialist due diligence teams comprising commercial, regulatory, pensions and tax.
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