Aberdeen-based Load Monitoring Systems (LMS) recently secured a major new investment deal, with support from Aberdein Considine’s Corporate & Business Advisory team.

Pewag Group - an Austrian chain maker whose history can be traced back to the 15th century - has invested an undisclosed sum in the Bridge of Don firm.

The deal gives Klagenfurt-headquartered Pewag Group a stake in LMS, which turns over £2million annually.

Co-founders Kirk Anderson and Millar Kennedy have each retained a shareholding in LMS and will stay on in their respective roles of managing director and sales director.

Aberdein Considine’s Ritchie Whyte and Danny Anderson acted on behalf of the founders in the deal, which sees Pewag’s lifting solutions segment manager, Stefan Duller, and international business development manager, Markus Gruber, join the LMS board.

Mr Anderson praised his legal advisers for their support during the transaction, which moved at speed.

Mr Anderson and Mr Kennedy previously worked together at a division of north-east manufacturing firm Power Jacks. They acquired the division in 2016 in a management buyout before naming it LMS.

The firm’s initial engagement with Aberdein Considine came in 2017 with an earlier investment deal. Following that deal, LMS invested about £500,000 in rental assets and the relocation from a base in Ellon to a larger facility in Bridge of Don in September 2018.