London’s position as a global economic powerhouse and centre for entrepreneurial activity will always make it one of the most exciting places in the world to invest. However, the on-going uncertainty caused by Brexit and the threat of a global economic slowdown continue to punctuate the market. This has been the situation for some time now, and business leaders in London have shown their resilience and determination to succeed, despite the unknowns.
At LDC, we have the same mindset.
It’s been a really busy period for our London team. We’ve completed five transactions in the last six months, including investing in leading digital marketing agency, Croud and the UK’s largest independent business telecommunications provider, Onecom. We also exited our partnerships with Martin Audio and FC Business Intelligence, after helping each business achieve significant growth during our partnership.
There have also been successes to celebrate within the team. Christian Bruning and David Andrews became Directors, while Aylesh Patel and Dan Gluckman were promoted to Investment Director and Investment Manager respectively. In addition to the promotions, we’ve added a number of new recruits. Tech specialist Joseph Fison and leisure and retail expert Joe Tager both joined us as Investment Directors, while Ed Lane joined us as an Investment Manager to support our origination efforts across London. Our experienced team enables us to offer management teams the best possible support to help them deliver their growth strategies.
For ambitious business leaders, we know that a ‘wait-and-see’ strategy is simply not an option and that a lack of certainty does not mean a lack of opportunity. Experience tells us that the support of a stable, long-term partner is even more valuable in times like these and the fact that Lloyds Banking Group is LDC’s evergreen and sole funder brings certainty and transparency to all our investments.
Our support goes much further than the capital provided on day one. We’re with businesses for the journey. Up to £100m of follow-on funding is available to each business we invest in. A good example of this is our partnership with London-based healthcare communications company, Lucid. It acquired two complementary businesses in 2019 to diversify its service offering and extend its geographic footprint to reach more customers.
While there is some evidence that activity in the wider private equity market has slowed, at LDC we have reaffirmed our commitment to partner with strong management teams through our pledge to invest £1.2bn over the next three years. We are ready to support management teams with the financial and strategic support that can help businesses reach their full potential. We call it backing ambition.
Head of LDC in London