LDC, the private equity investor which is part of Lloyds Banking Group, has made a significant minority investment in cloud service provider Creative ITC to support its organic and acquisitive growth strategy.
Headquartered in London, and with a global datacentre and operating footprint, Creative ITC is a provider of high-power cloud computing solutions to the global architecture, engineering and construction sector.
Creative ITC delivers specialist and mission-critical cloud infrastructure solutions, including its Desktop-as-a-Service offering and sophisticated data storage and back-up/recovery products.
Creative ITC’s international data centre footprint allows its solutions to be delivered at high speed and low latency to customers, enabling the business to support demanding application environments and data processing and storage requirements on a global scale. Customers include architecture and engineering giants WSP, AtkinsRéalis and Foster + Partners.
The business has a strong track record for growth. Over the last two years, it has increased both annual recurring revenues and its customer base by >90%, alongside broadening its international footprint which now extends into the Middle East, North America and Australia.
LDC is backing Creative ITC’s management team, led by co-owners CEO Keith Ali and president Eamon Murchan. The firm’s investment and strategic support will help the business to deliver its ongoing growth strategy, along with acceleration into new markets and building out product capabilities. The backing from LDC will also enable Creative ITC to explore complementary acquisitions.
The investment was led by Chris Baker, Partner, and Tom Jervis, Investment Manager, both of whom will join the board as non-executive directors. As part of the transaction, Mark Thompson will also join the business’ board as non-executive chair.
“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,” said Ali.
“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.”
Murchan said: “We’re excited to take Creative ITC to the next level. LDC’s understanding of our industry and their belief in our vision make them the ideal partner as we grow and continue to deliver great value to our clients. I’m looking forward to seeing what we can achieve together.”
Chris Baker, partner at LDC, added: “Keith, Eamon and the rest of Creative ITC’s excellent management team combine deep technical domain expertise with in-depth knowledge of the unique technology challenges of the AEC market to deliver exceptional solutions to their customers.
“The business is growing quickly and is well placed to capitalise on increasing levels of demand, whilst continuing to provide customers with market leading service levels and unrivalled domain expertise. We look forward to working with them to help identify and capitalise on new opportunities.”