M&A Deal Summary

Lloyds TSB Development Capital Acquires Vista Retail Support

On October 27, 2017, private equity firm Lloyds TSB Development Capital acquired information technology company Vista Retail Support from WestBridge and Octopus Investments

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 12th transaction in the Information Technology sector.
  • This is Lloyds TSB Development Capital’s 194th transaction in the United Kingdom.

M&A Deal Summary

Date 2017-10-27
Target Vista Retail Support
Sector Information Technology
Buyer(s) Lloyds TSB Development Capital
Sellers(s) WestBridge
Octopus Investments
Deal Type Secondary Buyout

Target

Vista Retail Support

Cardiff, United Kingdom
Vista Retail Support is an IT services company. Vista offers a range of EPOS and support services including hardware support and maintenance, building, cabling and installing EPoS systems and contact centre management. Vista Retail Support was founded in 1995 and is based in Cardiff, United Kingdom.

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Buyer(S) 1

Buyer

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 202 of 298
Sector (Information Technology) 12 of 26
Type (Secondary Buyout) 38 of 57
Country (United Kingdom) 194 of 287
Year (2017) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-27 Babble

London, United Kingdom

Babble is a specialist communications technology provider that supports around 2,000 medium-sized companies operating in a wide range of sectors including financial, health and education, travel and accommodation, and public services. Its integrated communications proposition enables clients to improve efficiency, enhance customer service, increase revenue, reduce costs, and remain secure in the digital world. Babble was founded in 2001 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Mini-Cam

Warrington, United Kingdom

Mini-Cam Ltd. is a producer of pipeline inspection systems. Mini-Cam was founded in 1991 and is based in Warrington, United Kingdom.

Sell -

Seller(S) 2

SELLER

WestBridge

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 140M GBP
Size Small
Type Sector Agnostic
DESCRIPTION

WestBridge Capital is a private equity firm that invests in growth-oriented, small and medium sized enterprises based in the UK. WestBridge focuses on profitable companies with proven business models and experienced management teams. WestBridge looks to invest £10 to £25 million in businesses valued between £15 and £60 million. Areas of interest include healthcare, financial services, business services, leisure, technology, industrial and retail. The Firm will not consider investments in biotech and real estate. Prospective transaction situations include buyouts, growth capital financings, buy and builds, and recapitalizations. WestBridge was formed in 2008 and is based in London.


DEAL STATS #
Overall 4 of 7
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 2 of 3
Country (United Kingdom) 4 of 7
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 Aero Stanrew

Barnstaple, United Kingdom

Aero Stanrew is a designer and manufacturer of electronic and electromagnetic modules used principally in the civil aerospace, defence, energy and space market sectors.

Sell $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 AJM Healthcare

Hailsham, United Kingdom

AJM Healthcare is a provider of a wide range of mobility and community equipment solutions. AJM Healthcare offers wheelchair, mobility, procurement, disabled equipment, and other services. AJM Healthcare was founded in 1983 and is based in Hailsham, United Kingdom.

Buy -
SELLER

Octopus Investments

London, United Kingdom

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2000
PE ASSETS 8.3B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Octopus Investments Limited is a private equity group that invests in lower middle-market UK based companies. Octopus looks to invest in buyouts, buy-ins, industry consolidations, and situations requiring development capital. Octopus' target investment size is £250k to £5 million in sectors such as business services, food/beverage, education and training, environmental services, media, marketing, healthcare, consumer, retail, leisure, and manufacturing. The Firm seeks businesses with a sustainable competitive advantage, whether through a unique product, IP, brand names or trade marks. Octopus Private Equity was formed in 2004 and is based in London.


DEAL STATS #
Overall 18 of 27
Sector (Information Technology) 2 of 3
Type (Secondary Buyout) 4 of 6
Country (United Kingdom) 18 of 25
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-21 LeanWorks

London, United Kingdom

YPlan is the “mobile-first” events discovery and booking platform. Company offers a mix of event tickets on its app and website allowing people to discover and book things to do in the city. YPlan has invested heavily in the development of an award-winning e-commerce platform and associated software for the events industry as well as in customer acquisition marketing.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-06 21Net

Boortmeerbeek, Belgium

21Net Ltd. is a provider of on-board Internet and passenger infotainment for the railway industry. Its on-board connectivity solution is based on multiple technologies such as satellite, cellular and high-speed wireless from trackside antennas. 21Net Ltd. was established in 2001 and is based in Boortmeerbeek, Belgium.

Sell -