UK - LDC backs £115m IBO of 1st – The Exchange

The institutional buyout sees LDC take a controlling stake in the business, with vendor Vertex, a business outsourcing firm owned by US private equity houses, retaining a significant stake.

Lloyds, HSBC and RBS provided debt to support the deal.

Cheltenham-, Warwick- and Woking-based 1st - The Exchange provides technology, software and consulting services to the UK financial services industry. In early 2007, US private equity investors Oakhill Capital Partners, Knox Lawrence International and GenNx360 purchased Vertex for £217.5m.

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• Topics
• Buyouts
• UK / Ireland
• Technology