LDC makes 3.5x return on sale of PEI to Bridgepoint

Bridgepoint Development Capital has acquired a majority stake in alternative asset information group PEI Media from its founders, management and LDC.

The deal gives LDC a money multiple of 3.5x and an IRR of 70 per cent.

Financial details of the deal were not disclosed but Real Deals understands the business was sold for over £100m (€113.4m).

Minority shareholder LDC backed the management buyout of PEI in 2015. During the firm’s hold the business has grown its revenues by 78 per cent to more than £32m in 2017, according to LDC, with employee headcount increasing by 30 per cent.

LDC investment director Troy Harris-Speid and investment manager Alex Wilby led the deal for the firm.

With investment from Bridgepoint, the business will look to grow both organically and through add-on acquisitions.

Bridgepoint Development Capital partner Robin Lawson said: “Today’s investment by BDC will support the continued international expansion of the business as well as further development of its technology platform and digital product set.

“Our aim in working with PEI’s management will be to ensure that it remains best-placed to scale its digital offering in a growing market and deliver progressive evolution of its specialist-brand in line with advancing client needs,” he added.

Bridgepoint was advised by Raymond James, Deloitte, Travers Smith and AMR while LDC and PEI turned to Livingstone Partners, Squire Patton Boggs, EY, PWC and Intechnica. The business’s management was advised by Liberty Corporate Finance.