LDC has exited its investment in Kerv following a three-year partnership, boosting the company's revenue from £20m to £100m.
Bridgepoint Development Capital has now taken a majority stake, with LDC reinvesting £30m for continued expansion.
This growth journey began in July 2020, with LDC's initial £22m investment in the merger of three cloud-based businesses to form Kerv.
Under LDC's guidance, Kerv's EBITDA increased from £3m to nearly £20m, and its workforce expanded from 100 to 700.
Founders Alastair Mills (pictured right) and Mike Ing (pictured left), along with their team, will continue to lead Kerv, supported by Bridgepoint and LDC, as they pursue further acquisitions.
Ing said: “This significant milestone will enable us to continue to deliver on our mission to harness the power of technology for the good of our people, our customers, our society and our planet at even greater scale.”
Aylesh Patel, Partner and Head of South at LDC, added: “Alastair, Mike and the team brought together three complementary businesses at the height of the Covid-19 pandemic and have created one of the fastest growing cloud and digital services providers in the UK.”
