LDC backs management buyout of CIPHR

The fresh capital will fund CIPHR's buy-and-build growth strategy, as well as enabling it to invest in its marketing and sales activity.

On completion of the deal, LDC's Alastair Weinel and Chris Baker will take a seat on the board as non-executive directors. Alastair Hazell, who is non-executive chair of LDC portfolio company The Property Software Group, has also been appointed as non-executive chair at CIPHR.

The investment comes as LDC made another investment in the software-as-a-service sector, backing the MBO of cloud IT and communications business Giacom World Networks.

Company
Headquartered in Marlow, Buckinghamshire, CIPHR develops cloud-based HR software targeted at small and medium-sized enterprises. Its clients include public and private sector organisations including The White Company, Universal Music, The Lawn Tennis Association and the Natural History Museum.

The business generated a turnover of £6m in its most recent financial year, an increase of 28% over the course of two years.

People
LDC – Alastair Weinel, Chris Baker (investment directors).
CIPHR – Chris Berry (CEO); Allan Oehlers (COO).

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