Investment type
- Management buyout
Founded in 2000, uSwitch is the UK’s number one price comparison website. As the business has grown, it has become one of the most widely-recognised and trusted brands in the price comparison market.
Backing the management team
Steve Weller and his management team secured support from LDC for a management buyout in June 2013 as it sought to scale the business through organic growth.
During the near two-year partnership, LDC provided support to the management team as it worked to expand uSwitch’s platform and its services, driving significant growth and market share gain.
Revenue in its 2014 financial year reached £62.9m whilst underlying profit (EBITDA) increased 30 per cent to £16.2m.
The support of Chris Hurley and the team at LDC has been critical in helping us scale the business over the last two years, strengthening our position in a highly competitive and fast-moving sector.”
A stepping stone to success
LDC exited the business in June 2015 in a £160m sale to London Stock Exchange-listed Zoopla Property Group, delivering a 2.4x money return for LDC and an IRR of 69 per cent.
uSwitch continues to operate as a standalone brand and platform.