Livingbridge exits IP Solutions in LDC deal

The transaction comes three years after Livingbridge provided the company with growth capital to support the company's expansion into new markets and geographies, and bolster its customer service operations.

Following the deal, IP Solutions will undertake an acquisitive growth strategy and invest in the development of new cloud-based services.

As part of the deal, former TDG chief executive David Garman will take on the role of chairperson at IP Solutions, while LDC investment directors Alex Clark and Troy Harris-Speid will also take seats on the board.

Previous funding
Livingbridge invested £5.74m in IP Solutions in December 2014.

Company
Founded in 2001 and headquartered in London, IP Solutions provides cloud-based communications systems including hosted telephony, unified communications, cloud contact centres, and mobile and enterprise connectivity. Its clients include National Geographic, Oak Furniture Land, Secret Escapes, DC Advisory, Which? and Guoman Hotels.

IP Solutions generated a turnover of £7.3m in 2015, the most recent year for which its accounts are publicly available, with an operating profit of £292,000.

People
LDC – Alex Clark, Troy Harris-Speid (investment directors).
IP Solutions – Matthew Parker (CEO); Olly Garland (chief financial officer); Jeremy Langley (chief marketing officer); Andy Lindsell (chief technology officer).

Advisers
Equity – Spectrum Corporate Finance (corporate finance); RSM (financial due diligence); Analysis Mason (commercial due diligence); Shoosmiths (legal); Sales Blueprint (management due diligence); KPMG (tax); JLT (insurance due diligence).
Company – Springboard Corporate Finance (corporate finance); Taylor Wessing (legal).

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• Topics
• Expansion
• Exits
• UK / Ireland
• Technology
• United Kingdom
• LDC
• Livingbridge
• RSM Global
• KPMG