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Kick ICT secures Lloyds investment as BGF exits with £17m

Kick ICT
Image credit: Kick ICT

Kick ICT, a Scottish information technology service provider, has secured a “significant investment” from LDC, a private equity investor that is part of Lloyds Banking Group.

The new investment from LDC marks the successful exit from previous Kick ICT backer Business Growth Fund (BGF), which invested £8.5m into the company in November 2021.

BGF said the exit delivered a return of double its original investment, or £17m.

Founded in 2015, Kick ICT provides companies with business and financial management software. The firm primarily works with SMEs, however, it also provides accounting and finance software across the social housing, construction and education markets.

“BGF’s investment in 2021 allowed us to continue to deliver our ambitious growth strategy, and they were a fantastic partner as we implemented our buy-and-build approach, and strengthened the senior team in preparation for the scale of opportunity we see in front of us,” said Kick ICT CEO Tom O’Hara.

“This will now continue with LDC, and we are excited about the opportunities ahead.”

Now backed by LDC, Kick ICT said the support of its new investor will go towards expansion through acquisitions of complementary businesses in Scotland and Northern England.

“The rapid pace of digitalisation across the economy means dynamic businesses like Kick ICT will be at the forefront of growth across the UK ICT sector in the years ahead,” said Lee Donaldson, investment director at LDC Scotland.

“Tom and Alan are committed and ambitious founders, and we’re excited to support them, alongside the rest of the management team, as they continue their impressive run of acquisitions to drive growth and expand the business outside Scotland.”

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