LDC backed the management team of 1st-The Exchange (now named Avelo) in 2009 as part of a £115million transaction, which saw LDC purchase a controlling stake in the business. LDC backed management’s strategy to extend the reach of the products and services it delivers and build the business through organic growth and bolt-on acquisitions.
Throughout the investment LDC provided funding for the acquisitions of N4 Solutions, the leading provider of distribution and fulfilment software, Screen Business, provider of bespoke website design to help intermediaries interact with their clients and TrigoldCrystal, the UK’s top suppliers of technology solutions to mortgage distributers. These transformed Avelo into a world-class market-leading business making it the largest provider of online comparative quotations and electronic new business applications.
LDC sold the business in 2013 to Australian financial services technology specialist, IRESS, which has a global client base for its capital markets and wealth management systems, for £210million.
It has been a pleasure to witness Avelo’s transformation over the past four years into a world-class company that offers market-leading technology services to the financial services industry. We have focused on supporting Avelo’s buy and build strategy, which has succeeded in growing the business and significantly improving its technology, software and consultancy solutions.Managing Director, LDC