LDC's investment in Connect Managed Services underscores the role of private equity in building reseller businesses as the London-based UC provider posts record revenues of £21m in its latest financial year, up from £13.3m the previous year.
Total EBITDA increased by 77% to £2.3m from £1.3m in 2016. Trading for the first quarter of 2018 is up 84%.
In 2014 LDC supported a management buyout which sparked a buy-and-build strategy with three acquisitions completed to date – Amazon Connect specialist CoolHarbour, the assets of UVN’s US-based technical and engineering support teams, and contact centre business PC-1 which strengthened Connect’s Cisco capabilities.
CEO Alex Tupman (pictured) said: “Partnering with LDC has given us the resource and expertise to laser focus on executing a clear growth plan, helping to scale our business through investment in research and development, along with pursuing a targeted programme of acquisitions.
"We’re now a business of international scale with a platform for further expansion after achieving a record year.”
LDC Portfolio Director Chris Coulton added: “Connect has increased its overseas reach and presence while firmly establishing itself as a key player in the UK market.”
Tupman was formerly ATC Group chief exec' and led the MBO at Connect aiming to build a £100m managed IT services business.