LDC invests in education technology specialist Avantis
It’s been fantastic to see so many schools globally embrace the power of virtual reality and we’re excited to be working with LDC to support our next phase of growth. LDC’s sector experience from supporting leading ed-tech businesses like Texthelp was crucial when choosing a private equity partner to support our vision.”Huw Williams, Managing Director
Aziz Ul-Haq, Partner at LDC in the North West, added: “The team at Avantis are bringing industry-leading technological solutions to the education market that support better outcomes for students. We’re looking forward to working to supporting the business reach even more students across the world.”
Key Capital Partners will remain invested in Avantis to continue to support the business following its initial investment in February 2020.
This transaction marks the LDC North West team’s fifth investment in the last 12 months. It follows the team’s recent investments in digital agency CTI Group and healthcare solutions firm EMS, and builds on the team’s record breaking 2021 in which they completed transactions with a combined enterprise value of more than £500m. LDC is committed to investing in at least 100 mid-market business across the UK over the next five years. The private equity firm recently announced a new five-year partnership with The Prince’s Trust to help up to 10,000 young people across the UK to start, sustain and grow their own business.
Avantis was advised by Cattaneo Corporate Finance, Mills & Reeve and Trowers and Hamlins.
LDC was advised by EY Corporate Finance, DLA and EY-Parthenon.
Senior debt and working capital facilities were provided by Virgin Money, who were advised by Pinsent Masons.
1 Reference: OECD Digital Education Outlook 2021: Pushing the Frontiers with Artificial Intelligence, Blockchain and Robots, OECD Publishing, Paris, https://doi.org/10.1787/589b283f-en.