Livingbridge sells CR7 Services

Livingbridge invested in the company through its Baronsmead VCT and Isis Growth I vehicles. The Baronsmead VCTs owned 49.5% of the equity in the company in 2015, but partially sold some equity in 2017. The VCTs held 10% of the company's equity, with a valuation of £1.8m, according to the VCT's 2018 annual report.

This is DNA Payments' first acquisition.

Previous funding
Livingbridge invested £9.9m in the newly founded company in 2014 for the acquisition of 123Send. 

Company
Founded in 2014, CR7 provides UK-based retailers with payment acceptance products and services. It operates the brands Optomany and 123Send, and is based in Maidstone.

Advisers
Acquirer – Proskauer Rose (legal); PwC (financial due diligence).

People
Livingbridge – Mark Turner (partner).
CR7 Services – Adrian Wilding (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Support services
• United Kingdom
• Trade sale
• Livingbridge