LDC exits Kerv following transformational growth journey
25 Jan 2024
LDC have been a brilliant supporter on our journey so far. We look forward to a bright future with both LDC and Bridgepoint’s backing. This significant milestone will enable us to continue to deliver on our mission to harness the power of technology for the good of our people, our customers, our society and our planet at even greater scale.”
Aylesh Patel, Partner and Head of South at LDC, added: “Alastair, Mike and the team have achieved phenomenal success with Kerv. They brought together three complementary businesses at the height of the Covid-19 pandemic and have created one of the fastest growing cloud and digital services providers in the UK. Their focus on creating a great place to work and delivering exceptional customer service underpins consistently high organic growth and supports the successful integration of acquisitions.
“We first backed the team at a time when many investors had paused activity during the pandemic, and we’ve been there with follow-on funding to support acquisitions as Kerv kept growing. This is a great example of what a private equity partnership can achieve when investors adopt a flexible investment strategy and it’s been a pleasure to support the team over the last few years. I’m looking forward to being part of the next chapter.”
LDC has a successful track record in the ICT sector, having made more than 20 investments into businesses with a total enterprise value of £1.4bn, since 2012. LDC’s current ICT portfolio includes a diverse range of businesses including Scotland’s largest independent IT managed service provide Kick ICT, leading telecoms provider Onecom, the global provider of mobile communications Cellhire, and leading internet service provider Wifinity.
LDC and Kerv were advised by Houlihan Lokey (CF) and Pinsent Masons (Legal), with Management advice also provided to Kerv by Jamieson Corporate Finance, Vendor Due Diligence provided by EY (Financial), Altman Solon (Commercial) and Intechnica (Technical).
Bridgepoint was advised by Lincoln International (CF) and Ropes & Gray (Legal).
Apera provided debt funding to support the transaction.