Medray Group (Medray) is a leading provider of diagnostic imaging equipment, including X-ray and CT, to customers across the healthcare, veterinary and dental markets in the UK and Ireland.

Employing 120 people – split between its Dublin base and a distribution centre in Hemel Hempstead – it supplies, installs and services equipment for c. 2,700 customers, in addition to providing complementary products and accessories.

Setting sights on growth

In July 2024, LDC backed Medray’s existing management team, led by CEO Siobhán Crowley, as it pursues an ambitious growth strategy underpinned by investment in its sales team, complementary acquisitions and expansion into further diagnostic imaging modalities and complementary product portfolios.

The Pace Group is a group of brands that maintain and repairs elevators, service lifts and stairlifts to improve their safety, performance and lifespan. The group has 20 brands in its portfolio including Deltron, Metro Lifts, Elevate UK Lifts, Elevator Group, A1 Lifts and Lift Control.

Based in Dudley, it employs 160 people and maintains ~13,000 units across the UK, with more around 5,000 customers across the public and private sectors, including associations, local authorities, hospitals and property and facilities management firms.

Rising to new heights 

In July 2024, LDC backed The Pace Group’s existing management team, led by Directors Scott Haywood and Lukas Schlenker, with a minority investment to support the business’ ambitious growth strategy.

LDC’s investment and strategic support will help the team to accelerate an ambitious growth strategy underpinned by investment in its market-leading services and complementary acquisitions.

Bramble Foods (Bramble) manufactures and supplies more than 2,000 high-quality products, ranging from preserves, pickles, chutneys and sauces to cakes, biscuits, confectionery, hampers and seasonal goods.

Founded in 2008 and headquartered in Market Harborough, Leicestershire, the family-run business has an extensive portfolio of 1,400 customers and supplies to a national base of independent, local retailers, and garden centres, farm shops and holiday parks.

Bramble’s products are sourced from established external suppliers and an in-house manufacturing division which produces a range of award-winning preserves, chutneys, sauces and cakes.

Helping a specialist food manufacturer to grow

LDC backed Bramble in December 2021 to support its organic and acquisitive growth strategy.

The partnership is helping the management team, led by founder and CEO Tony Foster, to consolidate Bramble’s market-leading position by investing in the company’s product range and in-house manufacturing capabilities to drive further organic growth. LDC is also supporting acquisition opportunities to accelerate this strategy.

Headquartered in Nottingham, ENSEK is a leading provider of digital transformation services in the energy sector with an innovative billing and customer account management platform, Ignition.

Led by CEO Jon Slade, the business has grown rapidly since its launch in 2010 through continued investment in technology and a commitment to solving the issues faced by existing and new entrants to the UK energy market.

Capitalising on demand for data and analytics

In 2017, we backed Jon and his team in a management buyout of ENSEK with a minority investment.

The investment enabled the business to embark on the next stage of its growth journey, which included a continued focus on product and new proposition development.

With energy suppliers responding to the growing demand for data, ENSEK enhanced its analytics offering as an opportunity for growth.

Bullen Healthcare (Bullen) is the UK’s largest independent Dispensing Appliance Contractor of stoma, urology and wound care products.  

Founded in 1848, the fourth-generation family business has developed a personalised home delivery service that helps patients to manage their conditions by providing the highest standard of tailored, clinical support alongside their product needs.

Headquartered in Newcastle, Cora Health is a multi-disciplinary provider of healthcare services spanning musculoskeletal (MSK), surgical services and diagnostic services.

An integrated offering

In December 2024, LDC supported the creation of Cora Health through the merger of its portfolio company Connect Health and BGF-backed Healthshare, another specialist healthcare provider.

Creative ITC is a market-leading provider of high-power cloud computing solutions to the global architecture, engineering and construction (‘AEC’) sector.

Headquartered in London, and with a global datacentre and operating footprint, it delivers specialist and mission-critical cloud infrastructure solutions to a range of customers, including architecture and engineering giants WSP, AtkinsRéalis and Foster + Partners.

Going global

In July 2024, LDC backed Creative ITC’s management team, led by co-owners CEO Keith Ali and President Eamon Murchan, with a significant minority investment to support their organic and acquisitive growth strategy.

LDC’s investment and strategic support will help the business to deliver its ongoing growth strategy, along with acceleration into new markets and building out product capabilities. The management team will also explore complementary acquisitions.

Following LDCs investment, Creative ITC accelerated its growth strategy with the appointment of three senior leaders to strengthen its global operations. Dave Adamson joins as Solutions Director to enhance go-to-market capabilities, Kelvin Claridge takes on the role of Head of Service Operations to drive service delivery innovation and Gary Clarke becomes Head of Security, expanding the company’s governance and compliance functions. These strategic hires reflect Creative ITC’s commitment to scaling its cloud services and delivering robust, secure IT solutions.

In March 2026, Creative ITC announced the opening of its U.S. headquarters in Houston, Texas, strengthening its ability to deliver and manage private cloud and digital workspace infrastructure services across North America.

Established in 2008, The Edwin Group is one of the UK’s largest providers of supply teachers to primary, secondary and special educational needs schools across the Vision for Education, ABC Teachers and Smart Teachers brands.

It is a values-led business, employing a team of dedicated education specialists who work nationally with schools and multi-academy trusts to safely recruit and retain the highest quality leaders, teachers and support staff, delivering excellent customer service.

Investing for growth

LDC backed the management buyout of The Edwin Group in December 2020 from Tes Global to help accelerate its organic growth strategy.

During a three-and-a-half-year partnership, The Edwin Group’s management team, led by CEO Liam Roberts and the core team of Darren Starling, Will Washington and Fiona Baker, pursued an ambitious growth strategy underpinned by four acquisitions and the expansion of the Group’s market leading services.

With LDC’s support, The Edwin Group invested heavily in its people and bolstered its senior team with several new roles, including a Chief Strategy and Chief Information Officer. It also opened nine new locations and now works with over 4,500 schools across the UK.

Waterscan is a tech-enabled and ESG-focused water management consultancy.

Founded in 1994, it helps customers to develop effective sustainable water management strategies that deliver business resilience and environmental leadership.

Waterscan’s proprietary technology platform, Waterline, provides real-time data and insights on water management that enable customers to save water and reduce cost. This is supplemented by Waterscan’s end-to-end water solutions approach, including the ability to facilitate adoption of the self-supply model, which provides businesses with complete control of their water.

It employs more than 60 people at its sites in Chichester and Rotherham and advises a UK-wide customer base of blue-chip companies, including household names such as BT, Greene King, Sainsbury’s, John Lewis and Whitbread, the owner of Premier Inn.

Supporting organic growth

In June 2024, LDC invested in Waterscan to support an organic growth strategy underpinned by further investment in technology and consultancy services, backing founder Neil Pendle and Operations Director Barry Millar.

As part of the transaction, Neil Penhall joined the board as Non-Executive Chair. Neil is the former CEO of environmental consultancy SLR Consulting and has more than 35 years’ experience driving international growth in the sustainability sector.

iamproperty is a leading provider of technology solutions to UK Estate Agents, helping them to save time, reduce risk, drive efficiencies and revenues, all while improving the experience of buying and selling property for everyone involved in property transactions.

It pioneered the Modern Method of Auction and today works with more than 6,000 Estate Agency branches.

Funding for expansion

LDC completed a minority investment in iamproperty in 2019 backing entrepreneurs Ben Ridgway and Jamie Cooke, who founded the business together in 2009. With LDC’s support, the management team heavily invested in innovation, continuing to make big changes in the industry. During the partnership, iamproperty launched the UK’s first end-to-end onboarding and conveyancing platform ‘movebutler’, and completed two complementary acquisitions, supporting its Partner Agents with more market-leading solutions to accelerate their success.

MSQ is an international group of agencies that spans the full range of marketing, technology and insight capabilities. It combines the best in technology and creativity into one multi-disciplinary offer to help brands attract, convert, retain and grow valuable customers.

The international group employs more than 1,200 people across America, Asia and Europe. Its 11 agencies include Brave Spark (creative production studio), Elmwood (branding & design), Freemavens (research & insights), MMT (Web & Digital Product Development), Smarts (PR and creative), MBAstack (CRM and Customer Engagement), Miri Growth (mobile creative), Stein IAS (B2B marketing), The Gate (creative and media), Walk-In Media (full-service media) and 26 (full-service digital).

Today, it is one of the world’s fastest growing marketing groups and supports clients such as Unilever, Vodafone, The AA, Vitality, Coca-Cola and Zalando.

Supporting a dynamic group

In May 2019,  the group’s management team secured a significant investment when they chose to partner with LDC in a transaction that valued the business at £37.5m.

This helped the group to accelerate the roll-out of its successful multi-disciplinary model beyond London, sustained the continued growth of its individual agencies and supported acquisitions.

Adding value

Shortly after the partnership was announced, industry heavyweight, Charles Courtier, was appointed Non-Executive Chairman to support Co-Founder and Chief Executive Peter Reid.

Charles has more than 30 years’ experience in the advertising industry and was CEO of WPP’s global media agency MEC until 2017, where he was responsible for 6,000 people across 80 markets. During his tenure, initially based in New York and latterly in London, MEC quadrupled in size to become a $1bn business and one of the world’s top five media agencies.

MSQ also appointed former Dentsu Executive Director Kate Howe, MMT founder Ben Rudman and ex-Kantar Executive Bart Michels to its Executive Board.

Clear intentions

LDC helped the management team to acquire five complementary businesses.

This included the transformational £20.6m public to private acquisition of the Be Heard Partnership which completed in September 2020, despite the global pandemic.

In 2021, MSQ acquired digital marketing agency MBA, award-winning creative production studio Brave Spark, and design agency Elmwood.

In 2022, MSQ acquired Miri Growth, a fully managed user acquisition and creative services agency.

Phenomenal growth 

During a four-year partnership, LDC helped the management team to successfully deliver its organic and acquisitive growth strategy.

This was a key driver in increasing revenues from around £50m to £125m; more than doubling headcount from 550 to 1,200; and more than tripling EBTDA from £6m to in excess of £20m.

MSQ also became one of the first marketing groups of its size to be Carbon Negative and in May 2023 it achieved B Corp certification across the entire Group, demonstrating its commitment to be a force for good and belief that people and the planet are as equally important as profit.

A continued partnership

In June 2023, LDC exited its investment in MSQ to One Equity Partners and subsequently reinvested for a minority shareholding.

LDC continues to support the next phase of the company’s growth, which will include accelerating international growth and building out its creatively-led, data-driven and tech-enabled model.

Using Innovation to drive Net Zero.

MSQ is working alongside climate solution company Ecologi to promote its latest carbon removal solution, Biochar. The project removes from the atmosphere the equivalent amount of greenhouse gasses produced by the vehicles that pass MSQ’s London offices. The group also plans to roll out this technology in several of its other global locations and will make the offer available to other businesses too.

Global presence by acquisitions

MSQ has since acquired leading New York-based creative agency SPCSHP, Germany’s leading customer experience digital agency, UDG (United Digital Group) and Atlanta-based digital experience company, Arke.

In 2025, the business also completed the bolt-ons of London-based agencies PRECIOUS Media, Wooshii and The Forge.