LDC backs Cheshire software firm with minority investment
Cheshire software company IEG4 has received backing from private equity firm, LDC.
The minority investment in the Alderley Edge-based software company will support the management team, led by managing director Paul Tomlinson, as it further invests in new product development to drive scale and growth.
IEG4 develops innovative software solutions that enable public sector organisations to deliver better and more streamlined digital services to their customers.
It is an accredited G-Cloud supplier.
IEG4’s technology is designed to integrate with back-office systems, enabling organisations to bring all online customer services together into one interactive online portal.
Paul and his team have grown the business since it was founded in 2006 and with LDC’s support they will now invest heavily in new product development.
This will include expanding IEG4’s development team as they continue to deliver innovative, market-leading technology solutions to clients.
Paul Tomlinson said: “Through the on-going development of our innovative software solutions, we have been helping organisations on their digital transformation journeys for the last 15 years. With demand increasing, LDC’s investment is crucial for us to continue to innovate and create market-leading solutions for our growing customer base.
“The LDC team has been true to their word throughout the investment process. I’m looking forward to our partnership as we continue to support our customers and embark on the next stage of our growth journey.”
The investment was led by investment director John Clarke and investment manager Jacob Leone at LDC in Manchester.
As part of the transaction, John and Jacob will join the board as non-executive directors, alongside Non-Executive Chairman Simon Wilkinson, former CEO of global software services company Mobica.
John Clarke said: “Paul and his team truly understand their clients and their customers’ digital experience. With a strong culture that focuses on developing talent and delivering software solutions that make people’s lives easier, we’re looking forward to helping them to bring more cutting-edge technology to the market.”
A team of local advisors in Manchester supported the investment. Gateley provided legal advice and RSM provided financial due diligence to LDC.
IEG4 was advised by Grant Thornton, Christian Douglass and Slater Heelis who provided corporate finance, tax advice and legal advice respectively.
