So far in 2016, LDC has invested over £340million in deals across a variety of sectors, enterprise values and equity stakes across the UK, and generated proceeds of more than £365million from ten exits.
It has been a busy year for LDC across the South, with two brand new investments, one exit and a range of follow-on funding provided to our portfolio businesses.
In August, LDC provided £37.5million of capital to accelerate the growth of the UK’s leading field service engineer logistics and supply chain technology solutions provider. The deal valued ByBox at £105million, and will support the company’s continued organic growth in the UK. It will also help ByBox to fast-track its global technology deployment, expand its courier proposition and continue to develop its click and collect service.“We knew we needed the right investment partner to support our long-term growth plans. It was clear from the outset that LDC’s experienced team, straightforward approach and flexible investment model meant they were the perfect partner for us, and I’m excited that we’re now well placed to expand, innovate and invest in the future of our business.”
Stuart Miller, CEO, ByBox
LDC recently backed the management buyout of CIPHR; the leading provider of HR management software, targeted at small and medium-sized organisations. Since the investment in March, LDC has worked with the business to further develop its SaaS offering and cloud-based technology product range, as well as identifying potential acquisition opportunities.
Since CIPHR joined LDC’s portfolio, it has already sold its HR software and systems to four other LDC portfolio companies including Microlease, Equiom, Clifford Thames and The Property Software Group.
“LDC is an experienced investment partner with expertise in the SaaS arena, and has already introduced us to several of its existing portfolio companies for whom the CIPHR product is ideal. Working with LDC has given our management team the extra support needed to accelerate growth and identify strategic acquisitions.”
Chris Berry, CEO, CIPHR
The Property Software Group (PSG) is the UK’s market leading provider of software solutions to property professionals and is used in over 8,000 agency branches. After three years of impressive growth with LDC, PSG was acquired by Zoopla Property Group plc for £75million.
LDC began its partnership with PSG in 2013 when we supported the £17.8million management buyout of GMG Property Services from Guardian Media Group. The investment supported the development of PSG’s cloud-based offering, which now accounts for almost 50% of revenues, and the acquisition of its smaller rival, Jupix, in June 2014. Sales grew 56% between 2014 and 2016 from £10.2million to £15.9million.
The sale of the business in 2016 to Zoopla property Group means PSG joins a group of the UK’s leading online consumer brands.
“LDC has been the perfect business partner on every level. We can’t thank the team highly enough for the strategic, financial and operational support they have provided, which has truly transformed the business and leaves us in fantastic shape for the next stage of our exciting journey.”
Mark Goddard, CEO, PSG