Sonia Kumar MP hears how private capital is supporting award-winning lift specialist, Pace Group
Sonia Kumar, MP for Dudley, visited Pace Group to hear how investment from private equity firm LDC is helping the local lift maintenance specialist expand across the UK, with around 240 employees and 15,000 lifts under maintenance.
Based in Kingswinford, Pace Group maintains and repairs passenger lifts, service lifts and stairlifts, helping keep them safe and reliable in buildings ranging from hospitals to homes. Its network of specialist brands serves around 5,000 public and private sector customers, including local authorities, housing associations and property managers.
Organised by UK Private Capital as part of its MP Connect programme, the visit brought The MP together with Pace Group’s leadership team and LDC to discuss the business’s growth, future ambitions and investment in its services.
LDC, part of Lloyds Banking Group, made a minority investment in Pace Group in July 2024. Since then, the group has completed 20 acquisitions and grown revenue from around £19 million to around £40 million.
The visit follows Pace Group’s win in the Medium category at UK Private Capital’s Vision 2026 Awards for the East and West Midlands. Judges praised its strategy of acquiring and developing complementary businesses, its environmental, social and governance credentials, and its well-rounded development.
Pace Group’s expansion reflects the wider role of private capital in the West Midlands, where backed businesses support 173,000 jobs and contribute £11 billion to GDP. In 2025, the industry invested £1.1 billion in the region, with 90% of investments going to small and medium-sized businesses.
Scott Haywood, Co-Founder & Director at Pace Group, commented:
“It was a pleasure to host Sonia Kumar MP at our Pace Group head office in Kingswinford. We had a great time talking. Covering so many topics, but one that’s really important to us here – our home, Dudley and the wider Black Country, the challenges local businesses are facing, and how much private equity has helped us along the way.
“We also had a fascinating chat about her journey from the NHS to becoming an MP. We spoke about charity and our ambition to do more in our corporate social responsibility work. Sonia has a real spark, and her energy was infectious and aligned a lot with our own here at Pace Group.
“We were especially grateful for her visit following our win in the medium category at the UK Private Capital Vision 2026 Awards. It’s great to be able to share our story with the local MP, especially at a time when we feel we’re only just getting started.
“There’s a lot more to come from Pace Group and we’ve got some exciting things lined up for 2027 that we’re looking forward to sharing. We’re grateful for Sonia’s time and for the support of UK Private Capital and LDC as we keep building.”
Matt Newbold, Investment Director at LDC in the West Midlands, added:
“Scott and Lukas have built an exceptional team at Pace Group, and it was great to introduce Sonia to the expertise behind its success. We’re proud to back a West Midlands business with such clear ambition and look forward to supporting the team as they continue their growth.”
Sonia Kumar MP said:
“It was a pleasure to visit Pace Group in Pensnett and see first-hand how the business is growing, creating opportunities and investing in its future. Pace Group is a fantastic example of the innovative and ambitious businesses we have here in Dudley. I was pleased to hear about the company's continued growth, and its commitment to providing skilled jobs and high-quality services. Businesses like Pace Group play a vital role in strengthening our local economy and showcasing what the Black Country has to offer.”
Michael Moore, Chief Executive of UK Private Capital, said:
“Pace Group is a great example of the ambitious businesses private capital is backing across the West Midlands and the UK. Its recent Vision Award recognises the team’s success in growing the business with LDC’s support.
“Our industry is a long-term partner for growth all across the nations and regions of the UK.”
Notes to Editors:
For further information, please contact:
UK Private Capital Press Office
Email: [email protected]
Background:
About Pace Group
Pace Group is a Kingswinford-based lift maintenance and repair specialist with around 240 employees, maintaining approximately 15,000 units across the UK. Its brands provide lift maintenance and repair, escalator services, modernisation and refurbishment, LOLER inspections and stairlift servicing. LDC backed the management team, led by directors Scott Haywood and Lukas Schlenker, with a minority investment in July 2024.
About LDC
Part of Lloyds Banking Group, LDC provides growth capital and strategic support to management teams through minority and majority investments. Its regional teams combine local relationships with national resources to help businesses grow organically and through acquisitions.
About UK Private Capital
UK Private Capital is the industry body and public policy advocate for the private equity (PE), venture capital (VC) and private credit ecosystem in the UK. With a membership of 600 firms, we represent UK-based private capital firms, as well as their professional advisers and a large base of UK and global investors. The private equity, venture capital and private credit industry has a vital role to play in driving national and regional growth. Currently over 13,000 companies, employing more than 2.5 million people, are backed by private capital investment in the UK. 
