News
LDC exits Croud to ECI Partners following remarkable growth journey
31 Oct 2024
We thank David Andrews and the LDC team for being a supportive and impactful partner over the past five years. We’ve achieved significant scale and success, whilst continuing to create brilliant opportunities for our people and deliver outstanding work for our clients. "
Luke continued: “This transaction marks a significant milestone in our long-term growth plans and we’re delighted to be partnering with ECI for the next phase of Croud’s journey, maintaining our independence, while capitalising on new opportunities and innovation.”
The transaction, led by David Andrews, Joseph Fison and Dan Gluckman, provides a money multiple return of 2.8x for LDC.
David Andrews, Partner at LDC, added: “When Luke and Ben founded Croud in 2011, they brought a truly disruptive mindset to an established market. Their ability to innovate and invest in the right areas has set them apart from the competition and underpinned their remarkable growth, both here in the UK and overseas. They’ve also achieved this while continuing to create opportunities for their people and being independently recognised as a great place to work. It’s been a real pleasure to support their vision over the past five years and seeing them move into their next chapter with ECI is something we’re incredibly proud of, and a testament to the world-leading agency they founded and built together.”
LDC and Croud were advised by GP Bullhound (corporate finance), Strategy& (commercial due diligence), A&M (financial due diligence) and DLA Piper (legal).
The transaction, which exchanged in October, is expected to complete next month.