Mid-market private equity firm triples revenue with successful merger deal

Mid-market private equity firm LDC has exited its investment in Connect Managed Services.

This follows on from the firm securing a deal that merges the contact centre technology and services group with G3 Comms.

The transaction is said to create one of the UK’s largest customer experience and unified communications specialists and a group with combined revenues in excess of £55m.

LDC first backed the multi-million-pound management buyout of Connect in 2014 to accelerate its expansion at home and overseas through technology investment and acquisitions.

Alex Tupman, CEO of Connect Managed Services, said: “The merger of G3 and Connect brings together two businesses with highly complementary capabilities which will enable our combined clients to derive significant benefits from the newly acquired skills provided by the enlarged team.”

With LDC’s support, Connect has since made several acquisitions that have provided scale and ‘transformed’ the business, tripling revenues from £9.7m to £30m for the year ending December 2018.

This has increased employee numbers by 225 per cent, to total around 180 staff.

Alex added: “The Connect management team is grateful for the support LDC has provided over the last five years.

“On every level it has been a very successful partnership and we are equally enthused by the possibilities for the newly merged business.”

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