ALDERLEY EDGE SOFTWARE COMPANY SECURES INVESTMENT FROM LDC
Minority investment will help IEG4’s management team to drive scale and growth. Transaction was led by LDC’s Manchester team and supported by a string of local advisors.
LDC, theUK’s leading mid-market private equity firm, has completed a minority investment in the software company IEG4 to support the management team as it further invests in new product development to drive scale and growth.
Headquartered in Alderley Edge, Cheshire, IEG4 develops innovative software solutions that enable public sector organisations to deliver better and more streamlined digital services to their customers. It is an accredited G-Cloud supplier. IEG4’s technology is designed to integrate with back-office systems, enabling organisations to bring all online customer services together into one interactive online portal. This not only enhances the user experience for customers, it also enables local authorities to reduce inefficiencies and deliver cost savings as part of a digital transformation strategy.
LDC is backing Managing Director Paul Tomlinson and his existing management team to support IEG4’s organic growth strategy. Paul and his team have grown the business since it was founded in 2006 and with LDC’s support they will now invest heavily in new product development. This will include expanding IEG4’s development team as they continue to deliver innovative, market-leading technology solutions to clients.
Paul Tomlinson, Managing Director of IEG4, said: “Through the on-going development of our innovative software solutions, we have been helping organisations on their digital transformation journeys for the last 15 years. With demand increasing, LDC’s investment is crucial for us to continue to innovate and create market-leading solutions for our growing customer base.
“The LDC team has been true to their word throughout the investment process. I’m looking forward to our partnership as we continue to support our customers and embark on the next stage of our growth journey.”
The investment was led by Investment Director John Clarke and Investment Manager Jacob Leone at LDC in Manchester. As part of the transaction, John and Jacob will join the board as Non-Executive Directors, alongside Non-Executive Chairman Simon Wilkinson, former CEO of global software services company Mobica.
John Clarke, Investment Director at LDC added: “Paul and his team truly understand their clients and their customers’ digital experience. With a strong culture that focuses on developing talent and delivering software solutions that make people’s lives easier, we’re looking forward to helping them to bring more cutting-edge technology to the market.”
A team of local advisors in Manchester supported the investment. Gateley provided legal advice and RSM provided financial due diligence to LDC.
IEG4 was advised by Grant Thornton, Christian Douglass and Slater Heelis who provided corporate finance, tax advice and legal advice respectively.
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1. LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.2. LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
3. LDC has a portfolio of 90 businesses across the UK. Its portfolio businesses cover a broad range of sectors including TMT, Support Services, Financial Services, Healthcare, Industrials, Retail & Consumer, Travel & Leisure and Construction & Property.
4. LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.
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