Livingbridge has exited construction software company Eque2 with LDC picking up a significant minority stake in a management buyout deal.
The Manchester-based company supplies business management software to over 1400 customers across the construction, housebuilding and contracting industries.
Livingbridge invested in the business in 2012 and supported the development of Eque2’s products.
LDC’s investment will be used to help fund Eque2’s buy-and-build strategy, including its forthcoming acquisition of another software company, Miracle Dynamics Payroll and HR Solution.
The deal is the fourth investment for LDC’s Manchester team in 2017. “With a commitment to invest £1.2bn nationally over the next three years we’re confident the North West will continue to drive forward deal activity,” said head of LDC in the North West Jonathan Bell.
“There are companies just like Eque2 right across the North West and we’re looking forward to building on our track record of supporting the growth ambitions of the region’s most exciting and ambitious businesses,” he added.