Our partnership with LDC has been instrumental in our transformation. They backed our ambitious growth plans, supported us through three acquisitions and helped us invest in our people and infrastructure, including our training academy.”
Rapid growth
During its successful five-year partnership with LDC, PAM more than doubled revenue from £29m to £67m. It also expanded the number of employees it supports from 600,000 to more than 1.5 million across more than 1,500 client organisations.
In March 2026, LDC exited PAM to Optima Health PLC, the UK’s leading provider of technology enabled corporate health and wellbeing solutions, in a transaction that valued the business at £100m.
Chris Rigg, CEO, PAM Group, joined our healthcare leaders roundtable discussion to give his viewpoint on innovation, ESG and how private equity is helping the management team at PAM to achieve their ambitions.
This partnership gives us the firepower to accelerate growth while focusing on exceptional service and innovation. LDC’s flexibility to invest for the long term aligns perfectly with our vision.”
We are very proud to have built a great business, with talented employees and loyal clients. We and LDC are aligned in our thinking for the Group and they clearly understand and respect our culture and will be a great partner for us as we build on the strong position we’ve created.”
This partnership with LDC gives us the backing and support we need to take EEI to the next level. The LDC team understands our sector and shares our ambition to build a business that leads the market in both technical expertise and operational excellence.”
LDC’s strategic guidance and deep sector experience have been instrumental in our journey to becoming the UK’s leading independent connectivity provider in the end markets we serve.”
Driving rapid growth
During a successful four-year partnership with LDC, Wifinity doubled revenue and increased headcount by 46% to become the UK’s leading independent connectivity provider in its markets.
In January 2026, LDC exited the business to Arcus Infrastructure Partners.
Awards
Mid Market Business of the Year Award
The Lloyds British Business Excellence Awards 2024
LDC has been an outstanding partner, providing not just capital but strategic support and expertise that has been instrumental in our growth journey. Together, we’ve expanded our geographical footprint, enhanced our service offering through two strategic acquisitions, and invested significantly in our technology and people. I want to thank Dewi, Oliver and the entire LDC team for their commitment to our vision and their belief in what we’re building.”
International expansion, acquisitions and investment in tech
One year after LDC’s investment in Hybrid, the business opened its first US office in Philadelphia and has since experienced rapid organic growth in the US, complementing its established presence in Bristol, Sydney, Shanghai and Kuala Lumpur.
Hybrid also completed two strategic acquisitions – Prompt Marketing in 2023 and Crisp Digital in 2024 – which collectively brought valuable expertise into the leadership team, strengthened Hybrid’s capabilities and technology development expertise, and added a presence in Kathmandu.
Hybrid also significantly developed its technology and data proposition with LDC’s support, including AI-powered reporting and optimisation and its proprietary Data Mapper and analytics tools, enabling it to better serve customers in an increasingly complex marketing landscape.
ESG milestones
Beyond hitting new growth milestones, Hybrid strengthened its commitment to environmental, social, and governance (ESG) principles during its partnership with LDC. The business committed to a two-year net positive roadmap, aligning with the sustainability requirements of the public institutions it serves.
Industry recognition
Hybrid’s growth trajectory was recognised with multiple industry awards during its partnership with LDC.
In 2024, the business was celebrated by the BVCA Vision programme, which celebrates the best management teams backed by private equity. The judges recognised that LDC’s investment had not only facilitated Hybrid’s rapid growth but also ensured the company was well-positioned for long-term success.
In September 2025, Hybrid was named ADWEEK’s Fastest Growing Agency. Hybrid also topped ADWEEK’s Large Agency and North East Agency categories. ADWEEK recognised Hybrid’s strong revenue growth, alongside its growth in headcount.
In November 2025, Hybrid went on to win Marketing, Advertising & Public Relations Business of the Year at the Growing Business Awards. These awards, held in partnership with Real Deals, recognise the UK’s most innovative, entrepreneurial and high growth SMEs. The judges commended Hybrid for its commitment to innovation, clear market focus and strong topline growth.
A platform for further expansion
In December 2025, LDC exited the business to EAB, a US-based education company.
The transaction followed a successful four-year partnership that delivered significant growth and international expansion, more than quadrupled revenue and tripled headcount.
AI Insights
Find out how Hybrid is adopting AI and read about how feedback from technology leaders from across LDC’s portfolio paints a picture of innovation, strategic vision, and future potential, in our AI Insights guide.
Download the guide
Awards
Fastest Growing Agency
ADWEEK 2025
Marketing, Advertising & Public Relations Business of the Year
Growing Business Awards 2025
Growing Business of the Year (£25m-£50m)
Growing Business Awards 2024
Vision 2024
BVCA
This partnership with LDC marks an exciting new chapter for us. The LDC team shares our vision and brings the sector experience and network we need to help us expand our reach. Their support will be invaluable as we continue to grow and make a difference to young people’s mental health.”
LDC backed our vision and ambition for the business five years ago and have been a collaborative and trusted partner ever since. The partnership has enabled us to invest significantly in the business and expand our presence, in particular in the US market which now represents half of our revenue.”
Recognition for achievements in tech and ESG
In 2024, WCCTV was recognised for its exceptional performance in ESG, diversity and innovation as part of the BVCA Vision Awards.
The management team was praised for making commitment to ESG principles a cornerstone of the business’ operational strategy. This included implementing numerous environmental practices, such as the internationally recognised ISO14001 standard for Environmental Management Systems, as well as solar-powered surveillance towers with carbon-friendly methanol fuel cell backup, and switching to hybrid and electric vehicles.
The team was also commended for actively promoting diversity, both by increasing its female workforce from 18% to 28%, and the percentage of employees of different ethnicities from 11% to 34% over the past three years.
In 2025, WCCTV was named in The Sunday Times 100 Tech, a ranking of Britain’s fastest-growing private technology companies, and in the GM Rising Stars of Business 2025, a list of 200 companies across the Greater Manchester region recognised for their achievements and growth in tech innovation.
Delivering accelerated growth
During a successful five-year partnership with LDC, WCCTV expanded rapidly in its domestic and US markets and launched a suite of innovative new products and services. It almost doubled its workforce and grew revenue threefold to £50m.
In January 2026, LDC exited the business to Arcus Infrastructure Partners.
The transaction represented a money multiple of 3.3x for LDC.
Awards
GM Rising Stars of Business
2025
Ranked 48 in the ST100 Tech list
The Sunday Times 100 (Technology) 2025
Exceptional performance in ESG, diversity and innovation
BVCA Vision Awards 2024
Northern Tech Awards Top 100
2023
100 fastest-growing technology companies in the North of England and Scotland (No. 73)
Northern Tech Awards 2022
Ones to Watch (Winner)
BDO Profit Track 100
We know that LDC are aligned with our focus on investing for growth and ensuring that a growing number of customers can benefit from modern, digital technology enabled care and new prevention solutions – and remain in their own homes for longer.”
LDC’s original investment proved transformational for Iglu, enabling us to take our proven model to new markets and dramatically scale our business whilst investing in our technology infrastructure and brands.”
He continued: “LDC’s continued support during the pandemic also meant we were able to take full advantage of the subsequent resurgence in international travel, which helped us re-accelerate our growth.”
A 10-year growth journey
With LDC’s support, Iglu increased total transaction value – the total value of holidays sold – to £450m, passenger numbers by 67% to 250,000, and headcount by 78% to 418 people.
By the end of the 10-year partnership, Iglu had more than doubled in value to £122m and today offers customers access to over 50,000 cruises and over 5,000 ski holidays.
In December 2025, LDC exited its investment in Iglu to Flight Centre Travel Group.
Awards
Best Online Travel Agent
Agent Achievement Awards
Favourite Cruise Travel Agent – Highly Commended
Wave Awards
Best Ex-UK Producer
MSC Champion Awards
Best Cruise Agent, Best Online Agent and Digital Champion of the Year
Agent Achievement Awards
Cunard – Partnership Achievement Award
UK Cruises Awards
Princess Cruises – Highly Commended
UK Cruises Awards
Carnival Cruise Line – Outstanding Contribution
UK Cruises Awards
Holland America Line – Highly Commended
UK Cruises Awards
Outstanding Achivement for Princess Cruises & Overall Retailer of the Year
UK Cruises Awards
Working with a leading investor that’s right on our doorstep in the North East was really important to us. LDC has an extensive history of supporting businesses just like ours to grow.”
During the first three years of the partnership, Aspire delivered strong and sustained growth, with revenue up 158%, headcount growing by 55% and the value of the business increasing from £85m to £192m. The company also expanded its geographic footprint across the UK, and successfully completed two strategic acquisitions.
Expanding its services and footprint
In 2024, the company moved into a larger city centre office, located in the heart of Glasgow’s vibrant commercial district.
It also demonstrated strong M&A capabilities through the acquisitions of Glasgow-based Cloud Cover IT, a dynamic managed service provider, and Leeds-based CloudCoCo, an experienced managed service provider. These acquisitions established two new regional hubs and added over £10m in revenues.
Aspire continues to successfully expand beyond the North East, with more than 30 per cent of customers now located outside the region.
Significant growth and customer excellence
In the financial year ending February 2025, Aspire surpassed its £50m revenue milestone two years ahead of schedule, and is on track for £71.2m revenue and £13.5m EBITDA this financial year (2025/26).
Growth is underpinned by significant investment in technology infrastructure, including in private cloud and network enhancements, alongside new AI-powered tools.
The company also continues to achieve exceptional customer satisfaction levels with a Net Promoter Score of 87.2, and in May 2025 was awarded a Royal Warrant, an exceptional mark of excellence granted to companies serving the Royal Household. One of just 16 North East businesses to hold this honour, Aspire was recognised as the supplier of IT and data cabling.
Accelerating expansion
In November 2025, LDC reinvested for a significant minority alongside new minority co-investor Federated Hermes to support the next phase of Aspire’s growth journey.
Aspire is now continuing to invest organically in its service capabilities while pursuing strategic acquisitions to accelerate its scale and geographic reach across the UK.
In March 2026, Aspire announced the acquisition of NVT Group, a managed service provider headquartered in Bellshill, North Lanarkshire, further scaling its presence in Scotland and enhancing its ability to deliver secure, integrated technology solutions.
LDC has supported our ambition since 2022 and their continued partnership as a lead investor, now alongside Federated Hermes, gives us the platform to move forward with confidence.”
Raising the ambition bar
Featured in Commsdealer, Aspire CEO Chris Fraser outlines the set of strategic principles that remain unchanged from the day the MSP was established.
Read MoreAwards
Deal of the Year (Medium)
UK Dealmakers Awards 2026
The Technology Business of the Year Award
The Lloyds British Business Excellence Awards 2025
Deal of the Year (£5m – £20m) Aspire’s acquisition of CloudCoCo
North East Dealmakers 2025
North East Tech Growth Companies
Insider North East Tech Growth List 2025
Sustainability in Tech Award
Dynamites24 Awards
Entrepreneur of the Year (Chris Fraser)
North East Dealmakers Awards 2024
SME Sustainability Award
North East Automotive Alliance Awards 2023
100 fastest-growing technology companies in the North of England and Scotland (No. 99)
Northern Tech Awards 2022