Law firm Addleshaw Goddard has advised private equity firm LDC on its £25 million minority investment into Manchester-headquartered digital agency CTI Group.
The deal will see the leading mid-market private equity firm support CTI's acquisitive growth strategy at home and abroad.
CTI helps companies to grow and develop through digital transformation, providing a range of services that includes digital marketing, web and app development and digital strategy. Companies operating under the CTI Group umbrella include CTI Digital, Supercharged Commerce, Stardotstar, Nublue, Ixis, Worship and Mosquito. It employs 175 people across its offices in Manchester and Lancaster.
LDC’s minority investment will help the existing CTI management team, led by founder Nick Rhind, to expand and enhance its existing suite of digital services and acquire complementary businesses in the UK and overseas.
The AG team advising on the investment was led by Partner Paul Medlicott and Associate Gemma Porter, supported by Saad Ali and Emma Johnston.
Paul Medlicott said: "LDC is a key player in supporting cutting edge businesses realise their ambitions, and it was great to work with them on this investment. Richard and the team have seen the potential created by the CTI management team and we were pleased to assist in this transaction, which will be hugely beneficial for all parties."
LDC is the private equity arm of Lloyds Banking Group. Richard Ibbett, Jacob Leone and Dale Alderson from LDC’s Manchester-based North West team led the investment.
Richard Ibbett, Investment Director at LDC in Manchester, added: “Nick and the team have built an impressive digital agency that is growing rapidly. Our support will help the management team to accelerate this momentum. We are already working closely with them to support a pipeline of exciting opportunities that will further expand the business.”