Livingbridge 5 wraps up with Exclaimer investment

It remains unclear at this stage whether Livingbridge secured a minority or majority stake on this occasion, and whether the transaction was structured as a buyout. Livingbridge declined to comment further on the transaction.

The GP said in a statement that Exclaimer would use the fresh funding to invest in expanding relationships with its partners, develop its products range, and bolster infrastructure and customer services.

The deal marks the last main investment for Livingbridge 5 – the vehicle was closed in 2012 on £360m. It targets growth equity and buyout transactions of UK businesses valued in the £20-75m range, usually investing £2-30m of equity per transaction. Exclaimer is the fund's 13th investment, following deals including Direct Ferries, Frank Recruitment and Metronet. The vehicle still has capital available for financing bolt-on and growth investments in portfolio companies.

Livingbridge held a final close on £660m for its latest fund in September, surpassing its £600m target.

Company
Established in 2000, Exclaimer is headquartered in Farnborough, Hampshire. It develops and sells email signature software – the company claims its products give users flexibility and control over email signatures and disclaimers, ensuring regulatory compliance and consistent brand promotion. It serves 25,000 customers worldwide.

People
Livingbridge – Matthew Caffrey (partner); Xavier Woodward, Mo Aneese (investment directors).

Advisers
Equity – PwC (commercial & financial due diligence, tax); Addleshaw Goddard (legal).
Company – Catalyst Corporate Finance (corporate finance); Gowling WLG (legal).

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