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M&A Deal Summary

LDC and Literacy Capital Acquire Wifinity

On September 15, 2021, private equity firms LDC and Literacy Capital acquired communications company Wifinity from Literacy Capital

Acquisition Highlights
  • This is LDC’s 4th and Literacy Capital’s 2nd transaction in the Communications sector.
  • This is LDC’s 257th and Literacy Capital’s 13th transaction in the United Kingdom.

M&A Deal Summary
Date 2021-09-15
Target Wifinity
Sector Communications
Buyer(s) LDC
Literacy Capital
Sellers(s) Literacy Capital
Deal Type Secondary Buyout
Advisor(s) Addleshaw Goddard (Legal)

Target

Wifinity

London, United Kingdom
Wifinity specialises in providing reliable, high-speed broadband to customers on campuses and other multi-dwelling sites, such as student and key worker accommodation and holiday parks. Wifinity was founded in 2007 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

LDC

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 3.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC 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. LDC was formed in 1981 and is based in London.

DEAL STATS #
Overall 266 of 311
Sector: Communications M&A 4 of 5
Type: Secondary Buyout M&A Deals 53 of 60
Country: United Kingdom M&A 257 of 299
Year: 2021 M&A 14 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 SMH Fleet Solutions

Worcester, United Kingdom

SMH Fleet Solutions is a provider of fleet management services including delivery, preparation, refurbishment, and remarketing of vehicles to a broad range of blue chip automotive manufacturers, rental and leasing specialists. SMH Fleet Solutions was founded in 2003 and is based in Worcester, United Kingdom.

Sell £70M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Aker

Bicester, United Kingdom

Aker designs, builds, and operates ultra-secure public cloud data environments for large private and public sector clients. Its delivery model integrates architecture blueprints, proven cloud technology, pre-built code components and finely honed professional services. Companies proprietary technology solutions drive performance and reduce cost while helping its clients to improve the management and sharing of data across their organizations. Aker was founded in 2016 and is based in Bicester, United Kingdom.

Sell -
Buyer

Literacy Capital

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Literacy Capital is a closed-end investment company focused on investing in and supporting small, growing UK businesses. The Firm typically pursues buyouts of smaller, profitable (£1 to £5 million of EBITDA) but will also consider select growth/venture investments in disruptive businesses generating revenue but pre-profit. Literacy Capital was formed in 2017 and is headquartered in London.

DEAL STATS #
Overall 13 of 23
Sector: Communications M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 3
Country: United Kingdom M&A 13 of 23
Year: 2021 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Cross Rental Services

Andover, United Kingdom

Cross Rental Services provides specialist, mission-critical cooling and heating equipment and services on a rental basis to a variety of end markets across both Ireland and the UK. The business comprises two divisions: Refrigeration & Catering Solutions (‘R&CS’) and Climate Control Solutions (‘CCS’). The R&CS division provides a fully managed turn-key service for a range of commercial refrigeration and catering assets, with a market-leading position for long-term retail refrigeration rental in the UK and Ireland. The CCS division provides a large base of blue-chip customers with heating and cooling solutions, focusing primarily on chillers, boilers, heaters, and air-conditioning, with a specialization in technically complex products which are used for high-criticality applications. Cross Rental Services is based in Andover, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Bright Ventures Education Group

Nottingham, United Kingdom

Bright Ventures Education Group is a collective of specialist brands that deliver educational-experiences, trips, courses, and learning beyond the classroom. Bright Ventures Education Group services are designed for students, teachers, corporate teams, and individuals. Bright Ventures Education Group is based in Nottingham, United Kingdom.

Buy -

Seller(S) 1

SELLER

Literacy Capital

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Literacy Capital is a closed-end investment company focused on investing in and supporting small, growing UK businesses. The Firm typically pursues buyouts of smaller, profitable (£1 to £5 million of EBITDA) but will also consider select growth/venture investments in disruptive businesses generating revenue but pre-profit. Literacy Capital was formed in 2017 and is headquartered in London.

DEAL STATS #
Overall 1 of 2
Sector: Communications M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
Country: United Kingdom M&A 1 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Cross Rental Services

Andover, United Kingdom

Cross Rental Services provides specialist, mission-critical cooling and heating equipment and services on a rental basis to a variety of end markets across both Ireland and the UK. The business comprises two divisions: Refrigeration & Catering Solutions (‘R&CS’) and Climate Control Solutions (‘CCS’). The R&CS division provides a fully managed turn-key service for a range of commercial refrigeration and catering assets, with a market-leading position for long-term retail refrigeration rental in the UK and Ireland. The CCS division provides a large base of blue-chip customers with heating and cooling solutions, focusing primarily on chillers, boilers, heaters, and air-conditioning, with a specialization in technically complex products which are used for high-criticality applications. Cross Rental Services is based in Andover, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Bright Ventures Education Group

Nottingham, United Kingdom

Bright Ventures Education Group is a collective of specialist brands that deliver educational-experiences, trips, courses, and learning beyond the classroom. Bright Ventures Education Group services are designed for students, teachers, corporate teams, and individuals. Bright Ventures Education Group is based in Nottingham, United Kingdom.

Buy -
Mergr

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Product

Company

Legal