Why LDC's David Bains is Confidence Man

"You don't work in this industry unless you enjoy it. You've got to have a natural desire to do it."

Hello Rainmakers,

Our data tells us that you like stories that lift the veil on how people in your world do their jobs, and do them well.

Today’s piece sees Sam Metcalf gleaning some real insights from David Bains of LDC, a successful investor into businesses in the regional mid-market.

Sam found him to be “candid without being a braggart” which speaks to a directness that favours private equity high performers.

We hope you enjoy it. 

If you have other suggestions for people who we should be speaking to, get in touch.

WHY A DIFFICULT YEAR IS ABOUT TO GET BETTER

David Bains of LDC has built himself a reputation as someone who knows how to help businesses grow.

However, all too often the world of M&A can be shrouded in a mist of grey suits and corporate jargon. Bains remains steadfastly different; an individual who thrives on an enjoyment of the job and his knowledge of the local market.

So, in a stop/start year for the economy, how have businesses in the regions been doing?

"I think the world of M&A is a confidence game," he says, "and if people don't have confidence, owners don't want to sell their business. This also leads to buyers becoming more sceptical and asking more questions. So, when there isn't confidence that can reduce deal volumes."

Bains said this was certainly the case for 2023, which he describes as a "difficult year" - but the market has returned.