LDC exits Hybrid to EAB after four years of international expansion and growth

LDC, the leading UK private equity investor, has exited its investment in Hybrid, a leader in higher education marketing, to US-based education company EAB. The transaction follows a highly successful four-year partnership that has delivered significant growth and international expansion, having more than quadrupled revenue and tripled headcount.

Bristol-headquartered Hybrid operates across the UK, APAC and the US, with a fully integrated service offering combining insights, AI-driven technology, creative, strategy and digital marketing. Its services help to drive student enrolment for leading higher education institutions around the world including the University of Bristol, the University of Glasgow and Adelaide University.

Since LDC’s investment in June 2021, Hybrid has pursued an ambitious domestic and international expansion strategy. With support from LDC, the business opened its first US office in Philadelphia in 2022 and has since experienced significant organic growth across the country, complementing its established presence in Bristol, Sydney, Shanghai and Kuala Lumpur.

It has 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 has 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.

During its partnership with LDC, Hybrid has more than quadrupled revenue and tripled headcount from 63 to almost 200 employees across six countries. The exit was led by Dewi Hughes, Partner and Head of South West & Wales, and Oliver Schofield, Investment Director.

This growth trajectory has been recognised with multiple industry awards, including ADWEEK’s Fastest Growing Agency 2025, the BVCA’s Vision 2024 programme, and Marketing, Advertising & Public Relations Business of the Year at the Growing Business Awards 2025.

With LDC’s support, Hybrid has also strengthened its commitment to environmental, social, and governance (ESG) principles. During the partnership, the business committed to a two-year net positive roadmap, aligning with the sustainability requirements of the public institutions it serves. Hybrid has also supported local charities throughout the partnership, demonstrating the company’s focus on corporate social responsibility.

Dewi Hughes, Partner and Head of South West & Wales at LDC, said: “We are immensely proud of what Chris Cammann, CEO, and the team at Hybrid have achieved over the past four years. The business has delivered exceptional organic growth, evolved strategically through acquisitions and technology, and achieved huge success through its expansion into the US and APAC markets.

“Hybrid’s success demonstrates the strength of its market-leading proposition and the quality of its management team. We have thoroughly enjoyed our journey with Hybrid and we are confident that the partnership with EAB will provide an excellent platform for the business’s next phase of growth, combining Hybrid’s global education expertise and AI-powered marketing solutions with EAB’s deep understanding of the US higher education market.”