LDC buys Sohonet from FPE Capital

FPE Capital hired Raymond James in July 2020 to run the sale of the company, according to Unquote sister publication Mergermarket.

The process attracted several bidders, including LDC, Vicente Capital Partners and Primary Capital Partners, which were shortlisted in the second round. The company was marketed based on its £5m EBITDA.

Apera and Clydesdale provided banking facilities to support this deal.

With LDC's support, the company, led by CEO Chuck Parker, intends to further boost its international growth and explore complementary acquisitions.

Following the deal, LDC's Dewi Hughes and Steve Aston will join the company's board alongside Tim Weller as non-executive chair.

Company
Founded in 1995, Sohonet is a provider of connectivity software and network security for the media and entertainment industry.

It provides 500 media companies and thousands of media professionals with a range of tools designed to help media collaborate on projects with their internationally distributed teams to create feature films, TV shows and advertising.

The business has a global presence across Europe, North America and Australasia, with offices in London, Los Angeles, New York and Sydney. It employs 120 people and has grown its revenues by 30% in the last three years.

People
LDC – Dewi Hughes, Steve Aston, James Garland, Oliver Schofield (partners).
Sohonet – Chuck Parker (CEO).

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