LDC has thrown its weight behind yet another member of the Oxygen 250, in the form of Creative ITC, cementing its status as the channel’s most prolific investor.
Ranking 197th in the Oxygen 250, London-based Creative ITC specialises in providing mission-critical cloud infrastructure solutions to the architecture, engineering and construction sectors (see recent Q&A for more, here).
This is LDC’s second UK channel investment of the year after it backed Scottish MSP Kick ICT in January.
The midmarket private equity firm counts OneCom, Acora, Red Helix and DSP among its other IT solutions provider portfolio companies.
Counting WSP, AtkinsRéalis and Foster + Partners among its clients, Creative ITC saw calendar 2022 revenue dip 12% amid a strategic shift towards recurring, multi-year contracted revenue.
It said it will use the investment to deliver ongoing growth, accelerate into new markets and build out product capabilities, while exploring “complementary acquisitions”.
LDC is backing Creative ITC’s management team, led by co-owners CEO Keith Ali and President Eamon Murchan.
“This is an exciting time for our business. Having grown rapidly in recent years, we’re now perfectly placed to explore new markets and continue to enhance the service we offer to our customers,” Ali stated.
“The team at LDC has taken the time to get under the skin of Creative ITC and our products and services, and we’ve built a strong relationship with them over a number of years. They have clear and impressive experience in backing businesses like ours, which includes offering flexible funding to support acquisitions, and we’re looking forward to partnering with them throughout this next phase of growth.”
