拢10m purchase of part of energy management firm follows acquisition of stake in housing specialist

The private equity arm of Lloyds bank is set to buy a minority stake in building energy management systems firm Matrix.

Lloyds Development Capital, which last week bought a stake in housing specialist United House, will invest 拢10m in the Manchester-based firm.

Matrix will now pursue an acquisition-led strategy backed by LDC to create a market-leading service provider in the 拢850m energy management sector.

In a statement released today the pair said that 鈥渟everal complementary businesses have already been identified, with a maiden acquisition expected to follow within the coming months鈥�.

LDC鈥檚 investment signals an intent to plough money into the construction sector, following its interest in United House and having previously invested in social housing firms Herbert T Forrest and Bullock, which it paid over 拢100m for in early 2008.

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