Lloyds TSB Development Capital (LDC), the private equity arm of the UK bank, has invested £17.5m (€27.1m) in ADC, the wireless infrastructure firm, despite investor reticence about the wireless sector.

LDC's investment values ADC at £60m. ADC started off as a broadcasting company, but then moved into the wireless sector in the 1990s. It supplies and installs network infrastructure to the wireless and broadcast industries.