Agentis Health Group (previously Ashtons) is a UK-based digital health specialist focused on transforming long-term condition management through the integration of medicines management, diagnostics and digital therapeutics. The Group comprises three core service areas: Agentis Healthcare, Agentis Therapeutics and Agentis Diagnostics.

A single, scalable platform

Founded on Ashtons, a leading medicines management, training and prescribing technology provider established in 1984, Agentis Health Group brings together a unique blend of expertise across clinical and digital excellence, therapeutics and healthcare management, medicines management and diagnostics to provide a single, scalable platform designed to help the NHS deliver smarter, more joined-up care.

In March 2020, LDC backed Ashtons to support its growth strategy, develop its infrastructure and distribution network, and enhance its technology platform.

In December 2021, the business acquired Firza, an experienced provider of clinical pharmacy services to support primary care providers in the UK.

Strategic relationships

In July 2024, Ashtons announced a new five-year contract with Priory, the UK’s largest independent provider of mental health services, for its new e-Works electronic prescribing and medicines management solution, continuing its longstanding partnership.

In September 2025, Agentis Health Group launched with the acquisition of Living With, a leading digital health company specialising in condition-specific therapeutics and remote patient assessment, management and rehabilitation.

Headquartered in London, Babble provides a wide range of unified communications and cyber security solutions for over 2,000 small and mid-sized businesses.

Formerly known as IP Solutions, the company’s services include hosted telephony (VOIP), unified communications, cloud contact centres, mobile and enterprise connectivity.

In 2017, the management team secured investment from LDC to accelerate their growth strategy through acquisitions and to support organic growth through new product innovations.

ADEY specialises in the design, manufacture, and supply of innovative products and services that significantly improve the effectiveness of domestic and commercial heating and cooling systems and water treatment systems.

Royal recognition

LDC invested in ADEY in June 2016, backing the business to expand internationally.

ADEY has been awarded the Queen’s Award for Enterprise in International Trade three times. The award recognises ADEY’s homegrown success and expansion into 19 European countries as well as China, the United States, Australia and New Zealand.

In 2019, ADEY also ranked 111th in The Sunday Times International Track 200 after recording £4.1m sales to the EU in 2017, an increase of over 55 per cent on the previous year.

Backing domestic expansion

With LDC’s support, ADEY invested heavily in product development and, in an industry first, launched a next generation universal water testing kit which provides lab-style reporting and interpretation instantly to a smartphone.

The business also strengthened its commercial water-testing service through its acquisition of Alpha Scientific in 2019 and added additional sites including a new satellite lab in Manchester. ADEY also opened a new purpose-built, 44,000 sq ft manufacturing and distribution facility in Gloucestershire.

During a four-and-a-half-year partnership, the business has grown net revenues from £34m (FY15) to £51m for the year ending 31 December 2020.

Biozone Scientific was founded in 1996 with a focus on using natural, chemical-free UV solutions for air purification.

The company’s global HQ is in the UK, with sales and operations located in Orlando Florida, Hong Kong, Shenzhen China, Toronto Canada, and the UK. Biozone Scientific also partners with distributor and manufacturing specialists all around the globe to expand the business reach.

Future global strategy

With LDC’s backing, the business plans to accelerate sales in the US, open new in-country offices in other key territories and invest in the development of next-generation products.

Omniplex Learning (OL) empowers organisations worldwide, including two third’s of the UK’s FTSE 100, to design, create and deliver effective and engaging digital learning. The company has offices in the UK and China and is the official UK partner of software providers Articulate, Docebo, Vyond and CYPHER Learning.

In 2021 OL secured investment from LDC to support its growth strategy including enabling the management team to further consolidate its market-leading position and target further organic growth and  complementary acquisitions.

Significant Growth

Since our original investment OL has completed a number of strategic acquisitions, including IT and digital transformation training specialist Good e-learning and cyber security training provider Matobo.

Award-winning growth

OL was ranked 22^nd in the Megabuyte50 and won the Best Performing Company – Value-Added Reseller Award at the Megabuyte100 Awards in 2025. The judges said OL’s consistently strong performances result from its expansion in capabilities to the provision of e-learning / training services and tools built and delivered on its own IP and platform.

In the year to 30 June 2025, OL’s revenue rose 26.7% year-on-year to £29.9m, representing a doubling of revenue since FY22. This growth has been driven by investment in its people, systems and infrastructure, with headcount rising to over 100 for the first time.

Yorkshire-based Linley & Simpson is a market-leading residential lettings and sales agency.

Partners for expansion

Will Linley and Nick Simpson, the firm’s management team, chose to partner with LDC in June 2018 when they required support for their buy and build expansion strategy.

The deal saw LDC back the management team with a £10m investment to drive acquisitions, as well as support technology developments to enhance its focus on delivering the best possible service to landlords, tenants, buyers and sellers.

During our partnership, indie games developer Team17 – led by CEO and Founder Debbie Bestwick – continued its significant success, with international sales increasing 40% and both revenues and EBITDA growing by more than 100%. In 2018, the company announced an IPO, launching onto London’s AIM market, in a £217m listing, with LDC remaining an investor.

Team17 is best-known for games including the iconic Worms franchise, as well as Overcooked and The Escapists. The business creates and sells a range of successful titles worldwide through distributors including Sony, Microsoft, Apple and Google, and works closely with third-party developers to help bring their products to market.

A strategic partnership

In September 2016, Team17 chose to partner with LDC and secured a £16.5m investment to fuel its expansion.

By 2017, it was revealed as one of the UK’s fastest growing businesses and was recognised for exceptional profit growth in The Sunday Times Profit Track 100 as ‘one to recognise’. It also won Growth Management Team of the Year at the BVCA Management Team Awards in Yorkshire and the North East and Debbie Bestwick was awarded the National EY Entrepreneur of the Year – in the Disruptor category.

In 2018, Team17 was listed in the 2018 Sunday Times SME Export Track 100 for the first time, after delivering exceptional international growth. The firm placed 84th in the league table, which ranks Britain’s small and medium-sized businesses with the fastest-growing international sales. In the first two years of our partnership, the business increased international sales by more than 40%.

Headquartered in Manchester, Eque2 supplies business management software to more than 2,700 customers in the construction, housebuilding and contracting industries.

Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their operations, driving efficiencies and ultimately improving profitability.

Minority investment for growth

In November 2017, LDC backed the £16m secondary buyout of Eque2, taking a significant minority stake in the business.
During the three-year partnership, Eque2 made three acquisitions: Miracle Dynamics which was completed at the time of the initial investment, JNC Solutions which expanded the business across the UK and CliP IT Solutions which added new products to Eque2’s product set.

Eque2 also invested in new product development to bring to market the first cloud-based job costing system in the construction industry.

When we first partnered with Tom Joule, Founder of the premium lifestyle brand Joules, the brand was already a £90m business. During our partnership, we helped the company grow revenues by 50%, open its 100^th store and expand internationally underpinned by investments in all parts of the business. In 2016, Joules successfully launched on London’s AIM market.

British style is admired and emulated around the world and, if there is one brand that has managed to successfully embody our unique country life, it’s Joules. Founded in Market Harborough in 1980, the premium lifestyle brand has built its reputation on a distinctive yet timeless feel that is distinctly British, but has a global appeal for customers of all ages.

Founder Tom Joule says the brand draws inspiration from traditional British heritage designs, focusing on quality while injecting a dose of personality with bright colours and prints.

The next stage

In 2013, Joules’ management team chose to partner with LDC and we invested £22m for a minority stake to help support continued growth across all channels of the business.

As well as delivering financial backing, we also provided strategic support to the management team, helping to increase the pace of its growth plans, both in terms of targeting new geographical and product markets and building organically on the brand’s loyal customer base.

The business expanded its e-commerce offering and increased international revenues by nearly 200%.

Over the subsequent two years, Joules increased revenues by 50%, driven primarily by its store roll-out, with its portfolio growing from 61 to 98, and growing wholesale and online sales.

Read more about the Joules success story >

CIPHR is a specialist provider of SaaS HR, payroll, recruitment and learning software which connects businesses with their employees via an online platform, CIPHR Connect.

The business’ marketplace offering allows its proprietary HR software to be integrated with customers’ existing tools, taking the strain out of HR admin and improving data accuracy.

CIPHR supports 300,000 employees across 50 countries globally, with customers including the Met Office, Natural History Museum and Volkswagen.

Driving acquisitive and organic growth

In May 2016 we backed the management buyout of CIPHR, led by CEO Chris Berry to further develop its software as a service (SaaS) offering and expand its product range.

We supported the management team through significant investment in sales and marketing resource to further leverage its industry-leading SaaS platform and also worked with the team to identify potential acquisitions in the human capital management (HCM) software sector.

NBS is a global leading technology platform that combines the best content and connectivity for anyone involved in the design, supply and construction of the built environment. Headquartered in Newcastle, it employs more than 200 people.

LDC invested £31.8m for a significant minority shareholding in NBS to drive future product development and international expansion plans. Our investment in NBS was named Private Equity Deal of the Year at the North East Dealmaker Awards and the Yorkshire Dealmaker Awards.

Northampton-based Panther Logistics is the UK’s largest independent two-man home delivery firm. Specialising in the retail and ecommerce sectors, its customers include Wayfair, Silentnight, Dunelm, Maze, Decathlon and Habitat.

Partnering for growth

In 2016, LDC backed a £17m management buyout of the business, taking a significant minority shareholding.