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  • LDC invests in IT services company Vista

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    LDC invests in IT services company Vista

  • Private equity firm LDC has invested £14 million in Vista Retail Support, an IT services company.

    Under the deal, which values the business at almost £30 million, LDC will take a significant stake in the business while existing backers WestBridge Capital and Octopus Investments will exit their investment. The management team will also increase its shareholding.

    Vista was founded just over ten years ago and is headquartered in Cardiff. It installs, manages and maintains in-store technology for large retail customers including Lloyds Pharmacy, Monsoon, Odeon Cinemas and Pets at Home.

    The business had sales of almost £18 million in 2016 and employs more than 200 people, including 120 field service engineers.

    The investment will be used to accelerate its growth and fund new acquisitions.

    Richard Cottrell, Managing Director of Vista Retail Support, said: “We have established ourselves as the go-to partner for IT and technology support in the retail, leisure and hospitality sectors, but we want to extend our reach further and continue to grow both organically and through strategic acquisitions. Having LDC on board will give us the additional expertise and firepower needed to develop the business and capitalise on market opportunities to significantly increase our operations and scale.”

    Dewi Hughes, Head of LDC Cardiff, added: “Vista is an impressive business with a highly capable management team, a proven, scalable model and a strong market presence across the UK. We’ll be working closely with the team to pursue organic and acquisition-led growth opportunities to help deliver the business’ long-term ambition”.

    Investment Directors Dewi Hughes and Pete Latham join the board alongside the existing management team. Mark Molyneux will join the board as Chairman and Kath Roach will join the board as Non-Executive Director.

  • 27/10/2017

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