Pagabo Group (prev. known as The 55 Group) provides market-leading built environment-related software and services to public and private organisations across the UK.

The Hull-based Group’s offering comprises three brands including Pagabo, a procurement platform that connects private and public sector buyers to contractors via bespoke national frameworks, Loop, social value measurement software supporting the construction and infrastructure project lifecycle, and Sypro, a cutting-edge contract and risk management software solution for ongoing project management.

In March 2024, LDC backed Pagabo Group’s management team, led by Executive Founder Simon Toplass, as it pursues an ambitious growth strategy underpinned by further investment in its technology and services. The Group is also continuing to expand its team of experienced professionals which support its clients based across the UK.

In March 2026, Amman Boughan, who joined the Group in 2024, was appointed Group CEO.

15below is a specialist software developer and the market leader in hyper-personalised, automated passenger communications for the travel industry.

Founded in 2000 and headquartered in Brighton, it supports more than 60 airlines, rail operators, travel agencies and travel management companies worldwide and its proprietary software platform enables its customers to keep passengers informed at every stage of their journey.

It employs more than 90 people across its international network in the UK, Australia, India, Germany and Turkey.

Flight path to growth

LDC invested in 15below in February 2024 to back the management team, led by Co-founder and CEO Nicholas Key, as it further invests in the development of proprietary technology as part of its five-year growth strategy.

In 2024, 15below surpassed 1 billion notifications sent on behalf of some of the world’s most innovative airlines and travel companies, with over 2.7 million messages delivered daily, keeping passengers informed and empowered at every stage of their journey. 

In July 2025, 15below acquired Airport AI, a leading conversational AI platform built for airports, to extend the reach of 15below’s platform into new use cases and accelerate the company’s AI roadmap. The combined solution will improve the air travel experience for millions of passengers worldwide through timely, relevant, and accurate updates.

Uinsure is a cloud-based technology platform that connects financial intermediaries and lenders with a panel of the UK’s leading insurers.

Founded in 2007, the Manchester-based insurtech business enables its customers to arrange cover through a frictionless platform. Its award-winning UinsureCX product tracks an individual’s mortgage progress and triggers communications at the most relevant moments of the mortgage cycle.

Backing an ambitious growth strategy

LDC’s investment and strategic support will increase its market share further, while developing new markets, as well as growing its network of partnerships with intermediaries, major building societies, and banks.

In 2024, LDC backed Uinsure’s management team, led by CEO Simon Taylor, to support the business’ ambitious growth strategy.

PEI Media provides information, analysis and connection for senior professionals in the alternative asset classes of private equity, real estate, infrastructure, private debt and other, newer emerging classes such as agriculture.

Developing the firm’s capabilities

In 2015, we backed a management buyout of PEI Media to support a strong management team led by chief executive Tim McLoughlin in return for a minority shareholding.

Following the deal, the business significantly invested in the development of its digital and content capabilities, enhanced its subscription offering and doubled revenues from its events arm, which now has a portfolio of premium international annual conferences.

As a result, the business grew its revenues by 78 per cent to more than £32m in the financial year ending December 2017, with employee numbers increasing by 30 per cent during the same period.

Kick ICT is Scotland’s largest independent IT managed service provider.

Founded in 2015 and based in Bellshill, North Lanarkshire, the company provides business-critical IT managed, communications and digital transformation services to more than 1,000 customers across a wide range of sectors.

Kick ICT employs over 170 staff and specialises in business and finance solutions from Microsoft and Infor, alongside modern infrastructure, cloud and IT support.

Supporting UK-wide expansion 

Kick ICT has grown rapidly over the last ten years by executing an ambitious acquisitive growth strategy. In November 2023, it made its ninth acquisition – Dundee-based C2 Software Limited – to expand its specialist Microsoft Dynamics offering to customers across the UK.

LDC invested in Kick ICT in December 2023 to help to accelerate the company’s growth through further acquisitions, targeting complementary businesses in Scotland and the North of England. In January 2026, Kick ICT announced the appointment of Steven Brown as CEO, following the planned retirement of Founder Tom O’Hara.

Message Direct is a leading outsourced communications solutions provider to SMEs and large corporates.

Founded in 1994 and based near Bournemouth, it has over 7,600 customers and provides operationally critical 24/7 support in dealing with customer leads and enquiries. The business operates a number of brands including Message Direct, Jam and Verbatim.

LDC invested in Message Direct in December 2023 to back the management team’s organic growth plans, buy-and-build growth strategy, and enable investment in new transformational technology.

As part of the transaction, experienced board members Pete Opperman and Gary West joined Message Direct as Chairman and Non-Executive Director respectively.

Cakesmiths is an independent manufacturer and supplier of artisan handmade cakes. Based in Bristol, it supplies its range to customers across the UK through its direct-to-market online platform and through direct relationships with independent coffee shops.

The business caters to a wide range of palates, including a broad vegan and very-low gluten range, and prides itself on exciting innovation and limited edition ‘small batch’ runs.

Cakesmiths also uses industry-leading reusable and recyclable packaging to keep its products fresh when being distributed to its customers.

DSP is a specialist database, cloud and applications managed service provider. 

The business manages high performance database and IT infrastructure with market leading expertise and capabilities in Oracle, SQL Server and Multi-Cloud technologies.

As one of Oracle’s leading European Partners, DSP provides its Oracle Cloud Infrastructure, technology and applications expertise to customers in a wide range of sectors, including financial and professional services, transport, healthcare, education and the public sector.

Supporting international expansion

LDC invested in DSP in October 2023 to enhance its product and services capability, both in the UK and new international markets, with its acquisitive growth strategy targeting expansion into North America and Europe.

Within the first month of partnering with LDC, DSP acquired Canada-based Eclipsys Solutions, to grow its Oracle Cloud services offering and expand its geographical presence in North America.

Headquartered in Bristol, A-Gas is the world leader in the supply and lifecycle management of refrigerants and associated products and services.

For over 30 years, A-Gas has supported its clients and partners on their environmental journey by supplying lower global warming gases and actively increasing the circularity of the industries it serves.

The company’s proprietary gas separation and recovery technology effectively abated approximately 8 million metric tonnes of CO2e in 2022, the equivalent to removing over 1.6 million cars from the roads for a year.

Significant investment

The management team led a £70m secondary buyout with LDC in 2011 as it looked to accelerate its international buy and build strategy.

During our partnership, LDC provided an additional £30m of follow-on funding as the management team identified six targets that helped expand A-Gas’ geographic footprint and service capabilities across international markets.

By 2016, A-Gas had expanded to 16 sites across Europe, Australia, South Africa and North America, providing full end-to-end management for its global customer base.

Sedex is a market-leading sustainability data and technology provider. Sedex’s technology platform, tools and consultancy services enable organisations to assess, manage and report on ESG risks and impacts across their supply chains – and help them meet these demands.

Founded in 2004 and headquartered in London, Sedex employs more than 200 people across offices in the UK, Australia, Chile, China, India and the US.

A growth partnership

LDC made a minority investment in Sedex in 2023, working in partnership with its management team to support their organic growth strategy and drive sustainability in supply chains globally.

LDC partnered with the existing management team, led by CEO Jon Hancock, to help the team further invest in developing Sedex’s platform, tools and professional services, leveraging the power of data and technology for its members’ benefit and fuelling its international expansion plans.

Evolution Funding (Evolution) is a technology-led motor finance platform that connects car dealers and auto finance providers with multiple lenders.

Since it was founded in 2002, the business has grown to become the largest online auto finance marketplace in the UK with its funding platform widely embedded across UK automotive dealerships.

It employs almost 500 people and supports over 4,000 dealer forecourts, including national car dealerships such as Marshall, Sytner Group and Trust Ford and major online-only used car dealers such as Cinch and Cazoo.

It also has brand partnerships with the AA and fintech services like Experian and ClearScore, which offer access to direct-to-consumer channels.

Boston Energy employs and trains specialist technicians to support the build and maintenance programmes of onshore and offshore wind farms across the globe.

Boston Energy’s client base includes the world’s biggest OEMs and Wind Farm Operators. It was recently awarded a significant new contract to support the Dogger Bank Wind Farm in the North Sea, the world’s largest offshore wind farm.

Since 2012, Boston Energy technicians have supported over 10,000 wind turbines across four countries.

Targeting global growth

LDC invested in the business in 2023 backing Julian Cattermole and the management team to take advantage of opportunities to grow in all of its core markets globally to support the transition to a clean energy economy.

Mark Parkes, who founded Bostonair Group in 1997, remains involved in the business as a major shareholder and Non-Executive Director.

Embedding ESG

In 2025, Boston Energy set out its ESG strategy, defining a Net‑Zero‑focused vision under three pillars – ‘Recruit, Retain and Reduce’, guiding its progress across the wind energy sector, employees and society. In the same year it earned a Bronze Medal from EcoVadis, placing it in the top 35% of organisations globally for sustainability performance. Boston Energy’s inaugural ESG report outlines these commitments, marking a major step in embedding ESG at the heart of its operations.