LDC's EDM Group buys DIT

Carmen Reichman
25 March 2013

Tweet
Facebook
LinkedIn
Google plus
Send to

LDC-backed information management services provider EDM Group has acquired US-based business Diversified Information Technologies Inc (DIT) with support from LDC.

EDM's acquisition of its American competitor DIT follows on from the company's bolt-on of London-based Filing Plus last year.

LDC invested in EDM in September 2011 when its portfolio company Sala acquired EDM from ECI Partners. The merger valued the combined entity at £52m, while it was believed EDM was valued at £31m prior to the acquisition.

The bolt-on of DIT brings more than 500 new overseas customers to EDM's client portfolio. It provides the group with a well-established operational presence in the US from which it will further extend its existing capabilities and services portfolio.

The combined group employs more than 1,400 people and will have an annual turnover of around £73m. DIT will be rebranded as EDM America. EDM will continue to look for buy-and-build opportunities in the future.

Goldman Sachs provided banking facilities to support the deal.

Company
Established in 1982, DIT is headquartered in Scranton, Pennsylvania, and is a provider of document management services to blue-chip customers in the insurance, financial services, healthcare and government sectors.

DIT's IT services enable the management of a corporate's entire document and information life cycle, including integrated records management, document imaging, workflow automation and electronic mailroom processing.

People
Yann Souillard is managing director at LDC Reading.

Advisers
Debt - Goldman Sachs.