LDC exits Mitrefinch following successful growth journey
16 Oct 2020
The team at LDC has played a key role in championing our expansion over the last four years. LDC backed the leadership team here at Mitrefinch to deliver on our growth plans, and it’s been great to have them in our corner."
“We have a strong reputation for developing innovative products that help companies solve the complexities of managing time, and we’re looking forward to taking our business to the next level as part of Advanced.”
Richard Ibbett, Investment Director at LDC in Manchester, said: “The growth potential when we first invested in Mitrefinch back in 2016 was clear and it’s great to see what Matt and his team has achieved. In the last four years they have transformed the business into a truly market-leading international player.
“Their success is testament to what can be achieved with the right level of support and investment from a private equity partner. We look forward to watching Mitrefinch continue its success and wish the team all the best as part of Advanced.”
Gordon Wilson, CEO of Advanced comments: “The innovative workforce management solutions developed by Mitrefinch are an exceptional fit with our existing best of breed Cloud HR solution. We’ve seen the impact of Covid-19 change the future of workforce management and shifting workforce expectations, leaving companies facing uncertainties with regards to resourcing and staffing. Digital technology provides accuracy of data to enable rapid decision-making in shifting market conditions which is a vital tool for companies managing shift patterns and measuring critical output.”
LDC has extensive experience of working with management teams leading businesses across the UK’s technology sector. In the last three months alone, LDC has invested in Aker Systems, Kerv and Beekman Associates, in addition to supporting portfolio company acquisitions for CIPHR, Babble, Onecom and Ensek.
Shareholders were advised by Adrian Reed and Phil Chadwick at GCA Altium Manchester, and DLA Piper’s James Kerrigan and Chris Wilson, also based in Manchester.