/ THIS TRANSACTION
We are delighted to announce the successful completion of our transaction, advising Beekman Associates, the US and UK-based leading global consultancy, on the sale of the company and its data-driven, software marketing procurement platform RightSpend, to LDC, the leading UK-based mid-market private equity investor with a focus on tech, media and telecoms companies.
The deal will enable the management team to drive organic growth, further develop its software-as-a-service (SaaS) offering and continue to expand into new international markets. LDC Director David Andrews and Investment Manager Dan Gluckman will both join the board. The deal will also see TMT expert former CEO at EMAP and Informa, and ex-Procurement Leaders Chairman, David Gilbertson, join as Chairman and former COO of the NEC Group, John Hornby, join as Non-Executive Director. This creates a powerful board to drive expansion.
/ CIESCO'S ROLE
Ciesco managed the sale process and LDC was chosen as lead bidder given its strong heritage of supporting fast-growing technology and media businesses. The private equity firm has invested more than £1 billion in UK technology, media and telecoms companies.
LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority. LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years. It has a portfolio of 90 businesses across the UK, across a broad range of sectors including TMT, Financial Services, Healthcare, Construction & Property, Industrials, Retail & Consumer, Travel & Leisure and Support Services.
© CIESCO LIMITED REGISTERED IN ENGLAND & WALES NO. 07243195.