Thu, 01 Aug 2024 | BUSINESS NEWS
Private equity investor LDC, part of Lloyds Banking Group, has made a significant minority investment into a cloud services provider. The funding will support Creative ITC’s acquisitive and organic growth strategy.
The company provides specialist and mission-critical cloud infrastructure services, including data storage and back-up and recovery, as well as its desktop-as-a-service offering. It is seeking to explore complementary acquisitions and accelerate its growth in new markets.
Keith Ali, Chief Executive at Creative ITC, said: "Having grown rapidly in recent years, we’re now perfectly placed to explore new markets and continue to enhance the service we offer to our customers.”
"The team at LDC has taken the time to get under the skin of Creative ITC and our products and services, and we’ve built a strong relationship with them over a number of years.”
"They have clear and impressive experience in backing businesses like ours, which includes offering flexible funding to support acquisitions, and we’re looking forward to partnering with them throughout this next phase of growth."
The deal was led by LDC partner Chris Baker and Investment Manager Tom Jervis, who will both join Creative ITC’s board as non-executive directors. Mark Thompson will also join the company’s board as non-executive chair.
Chris Baker commented: "Keith, Eamon and the rest of Creative ITC’s excellent management team combine deep technical domain expertise with in-depth knowledge of the unique technology challenges of the AEC market to deliver exceptional solutions to their customers.”
"The business is growing quickly and is well placed to capitalise on increasing levels of demand, whilst continuing to provide customers with market leading service levels and unrivalled domain expertise. We look forward to working with them to help identify and capitalise on new opportunities."
Find out about the steps to attracting private equity backing for an acquisitive growth strategy
An opportunity exists to purchase the business and assets of a software development and support business operating in the UK and USA, with head office in the North of England.
We are pleased to offer for sale a steady specialised software company that has been trading for 10-15 years with high profit margins and staff run.
The company is a well‐established family business based in Oxfordshire with a loyal network of staff in the UK, India, and Spain. It provides a full portfolio of digital and cloud services to the technical services industry. Its principal activities...
16
|
Sep
|
Administrators hopeful of quick sale of pharmaceutical firm | ADMINISTRATION
A pharmaceutical company based in Liverpool has fallen into ...
16
|
Sep
|
Derby marketing firms announce merger | MERGER
Two companies based in Derby are merging in a deal that will...
16
|
Sep
|
Nimbus acquires family-owned flooring company | MBO/MBI
Private equity investor Nimbus has acquired a Yorkshire-base...
18
|
Jul
|
Acquisitive education firm secures new private equity backing | BUSINESS SALE
An education group that has expanded through a series of acq...
04
|
Jul
|
Lift repair specialist secures LDC backing | BUSINESS NEWS
A Dudley-based company that specialises in maintaining and r...
22
|
Aug
|
Private equity firm backs warehouse safety group’s buy and build strategy | BUSINESS NEWS
Private equity firm LDC’s West Midlands team has backe...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.