LDC exits UK2 Group to The Hut Group

According to a statement issued by the vendor, the sale does not include the group's US-based sports brand Digital Chaos, which will remain under LDC's stewardship.

Since its acquisition by LDC, the company has expanded internationally, from an initial presence in the US and UK, to a presence in 26 countries in 2017. According to publicly available documents, the company's turnover grew from £23.3m in 2010 to £30.6m in 2015.

Previous funding
LDC invested £47m in UK2 in April 2011 in return for a majority stake.

Company
Founded in 1998 and headquartered in London, UK2 is a server and web-hosting business. The company has a headcount of around 200 across 26 locations in Europe, the Americas, Asia and Australasia.

According to publicly available documents, the company generated a turnover of £30.6m in 2015, with EBITDA of £5m.

Advisers
Equity – Torch Partners (corporate finance); Deloitte (financial due diligence); CMS (legal).

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• Topics
• Exits
• UK / Ireland
• Technology
• United Kingdom
• LDC
• Trade sale