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
This is an excellent opportunity to acquire a managed service provider/IT support solutions business servicing a broad range of B2B clients with exponential growth opportunities.
The company provides tailored cabling and network solutions, including design, implementation, and maintenance. The business offers its services across the UK to a wide range of market sectors, such as finance, retail, hospitality, and commercial in...
Established in the 2000s, the company specialises in an array of medical monitoring solutions within sterile services and endoscopy departments within the healthcare sector, using cutting edge cloud-based systems and cloud data storage.
24
|
Jan
|
Barnfield Construction moves to employee ownership | BUSINESS SALE
A 50-year-old construction firm has transitioned to employee...
24
|
Jan
|
Army supplier BCB gunning for growth after Wescom Group deal | BUSINESS SALE
A 160-year-old business which started life providing cough m...
24
|
Jan
|
Facilities management firm Atlas FM transitions to employee ownership | BUSINESS SALE
Facilities management firm Atlas FM has transitioned to empl...
23
|
Jan
|
Bramble Foods buys long-established chocolate maker Whitakers | BUSINESS SALE
Private equity-backed Bramble Foods Group has bought a choco...
08
|
Nov
|
LendingMetrics eyes M&A following LDC investment | BUSINESS NEWS
Credit risk technology group LendingMetrics is on the hunt f...
18
|
Jul
|
Acquisitive education firm secures new private equity backing | BUSINESS SALE
An education group that has expanded through a series of acq...
Business Sale Report is the complete resource for finding genuine 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.