Private equity investor LDC, part of Lloyds Banking Group, has made a significant minority investment in cloud service provider Creative ITC to support its growth strategy.
Creative ITC, which offers mission-critical cloud infrastructure services, will use the investment to explore acquisitions and expand into new markets.
Over the past two years, Creative ITC has grown its annual recurring revenues and customer base by over 90%, while expanding internationally.
Chris Baker and Tom Jervis, who led the investment, will join the board as Non-Executive Directors. Mark Thompson will also join as Non-Executive Chair.
Keith Ali (pictured), CEO at Creative ITC, said: “Having grown rapidly in recent years, we’re now perfectly placed to explore new markets and continue to enhance the service we offer to our customers.”
“LDC has clear and impressive experience in backing businesses like ours, which includes offering flexible funding to support acquisitions.”
Cavendish, an investment bank for high-growth companies, advised Creative ITC on the transaction.
