Solid Solutions secures significant investment from LDC to accelerate growth strategy
10 Feb 2020
LDC is the perfect partner to help us on the next stage of our journey. Their investment allows us to accelerate the growth plans for the business by increasing our scale, capacity and capability, enabling customers to benefit from an even wider product and service offering."
“Our focus is always centred on our partnership with customers. Continued investment in our own growth means we will remain agile and responsive when delivering the world-class service our customers have come to expect.”
The transaction was led by LDC’s Rob Schofield, Richard Whitwell and Lawrence Dean. Rob and Richard will join the board as Non-Executive Directors.
Rob Schofield, Director at LDC in Birmingham, added: “Solid Solutions is a true Midlands success story, and with its rapidly expanding customer base and standout reputation, the business continues to go from strength-to-strength. The computer-aided software sector has boomed in recent years and this growth looks set to continue. With the increasing demand, and Solid Solutions’ established customer portfolio, there is a real opportunity for us to support Alan and his team as they cement the firm’s market-leading position.”
Ian Downing, an investor at BGF, added: “Solid Solutions has seen fantastic growth over the last three years, testament to a management team with a bold vision for their business and a passion for supporting their clients. We wish them all the very best for the next stage of their journey with LDC.”
BGF introduced Colin Garrett to the business in 2016, when he joined as Non-Executive Chairman. Colin will continue to support the business as a Non-Executive Director following LDC’s investment.
In February 2019, the business received 17 awards at the annual SOLIDWORKS’ conference in Dallas, confirming its position as the UK’s leading 3D CAD provider for SOLIDWORKS. It also maintains a Platinum Trusted Service Award from independent review provider, Feefo, with a score of 4.8/5.0, reflecting strong satisfaction by customers.
Banking facilities were provided by Muzinich & Co. Limited and Santander.
LDC was advised by Gowlings (Legal), DC Advisory (Corporate Finance) and BDO (Financial).
Solid Solutions and its shareholders were advised by KPMG (Corporate Finance), EY (Financial Due Diligence), Shoosmiths (Legal) and CIL (Commercial Due Diligence).