Portfolio News

LDC portfolio company Inprova Group announces international expansion with 10-year US deal

Fast-growing LDC portfolio company Inprova Group has sealed its first move into international markets.

With its head office in Cheshire and three sites across the UK, Inprova is delivering on its strategic plan and has secured a major 10-year deal to provide a range of procurement outsourcing services to leading housing organisations in the United States.

The $10m [£6.5m] contract with Boston-based firm HPN Select will see Inprova set up a new operation in the US over the coming months.

It marks a first foray into international markets and builds on Inprova’s goal to at least double the size of the company over the next 2-3 years. Inprova already manages over £0.5bn worth of spend for a wide range of clients across the UK public and private sectors and this deal, when combined with its three recent acquisitions, puts Inprova well on their way to meeting this goal.

HPN Select is owned by Housing Partnership Network (HPN), whose members provide housing and a range of other services to nearly 9 million people across 50 states and Washington, DC. Together, they have accounted for more than $100bn of community investment and the building of 350,000 affordable homes over the last 23 years.

Inprova will help HPN Select members refine and grow their businesses through a range of specialist procurement services, including contract and supplier management, technological solutions and a series of aggregated buying agreements. Inprova expects to manage around $200m of spend a year.

The long-term nature of the deal that has been agreed is testament to Inprova’s long track record of success in the UK of delivering services to more than 900 social landlords via Procurement for Housing and a wide range of other clients.

 

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.