Bridgepoint Development Capital backs IDHL

Alessia Argentieri
09 March 2021

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Bridgepoint Development Capital has invested in UK-based digital transformation specialist IDHL.

Muzinich & Co provided debt financing to support the transaction.

Bridgepoint is currently investing via Bridgepoint Development Capital IV (BDC IV), which held a final close on its hard-cap of £1.5bn in September 2020. The fund deploys equity tickets in the £20-100m range, investing in European mid-market companies with enterprise values of £30-150m. It targets both buyouts and growth capital opportunities, and plans to make around 20 investments.

With the fresh capital and Bridgepoint's support, IDHL intends to further boost its buy-and-build strategy with the aim of acquiring additional businesses in the UK and internationally, while expanding its capabilities and reach.

Company
Established in 2000 and based in Harrogate, IDHL specialises in supporting businesses throughout the process of digital transformation.

Its focuses primarily on search engine marketing, e-commerce, web design and automated email marketing.

Employing 240 staff, the company controls seven brands across five locations and serves a nationwide customer base.

The company generated EBITDA of £5.6m from revenues of £19.4m in 2020, recording an increase of nearly 40% from the prior year.

People
Bridgepoint Development Capital – Robin Lawson (partner).
IDHL – Dennis Engel (founder, CEO).

Advisers
Equity – Deloitte (financial due diligence); Ropes & Gray (legal); Clarity (tax).
Company – Squire Patton Boggs (legal); PwC (financial due diligence).