LDC has a proven track record of backing growing TMT business and supporting ambitious acquisitive growth strategies. We are really excited to work closely with the team at LDC to further enhance our market leading products and services.”Chuck Parker, CEO
LDC’s Dewi Hughes added: “Chuck and his ambitious team came to LDC with a clearly mapped out strategy to continue to grow the business in a rapidly evolving market environment. We are therefore delighted to be investing in such a well-established, branded innovator and to support Sohonet in the next chapter of their journey.”
Sohonet adds to LDC’s existing portfolio of media and entertainment related business, having backed global TV production company Plimsoll Productions in 2019. In September last year, LDC helped Plimsoll acquire specialist distribution and rights management company Magnify Media.
In the past two years, LDC has supported its portfolio companies to complete over 50 acquisitions with a combined enterprise value of more than £250million. The private equity firm is currently supporting two thirds of its existing portfolio businesses to pursue an acquisitive growth strategy.
Banking facilities are provided by Apera and Clydesdale. Financial details of the transaction are undisclosed.
LDC was advised by GCA Altium (Corporate Finance and Debt Advisory), Osborne Clarke (Legal), CIL (Commercial Due Diligence), KPMG (Financial Due Diligence and Tax), Mentor (Technical), Intechnica (IT), Aon (Insurance) and Prelude (Management).
Sohonet was advised by Raymond James (Corporate Finance), RSM (Financial Due & Tax), EY Parthenon (Commercial Due Diligence) and Goodwin Proctor (Legal). Management were advised by Mishcon de Reya (Legal).