KPMG assists in buyout of Clifford Thames Group by LDC
KPMG Corporate Finance has announced today that it has acted for the shareholders on the £50 million management buy-out of Clifford Thames Group by LDC.
Clifford Thames Group is a global provider of IT systems for the automotive after-sales market with offices located in USA, Europe, and Asia Pacific. The group focuses on four key areas: Parts Cataloguing; Billing Services; Dealer Services and ATHORIS.
LDC is a leading private equity group, managing a portfolio of over 80 companies which are collectively valued in excess of £2 billion.
Khush Purewal, Director at KPMG who led the transaction, stated: “The deal represents an excellent opportunity for Clifford Thames Group to accelerate its growth aspirations and develop the market leading products.”
Calvin Barnett, Group CEO, Clifford Thames Group added: “The new financial investment by LDC, alongside ongoing commitments from Octopus VCT, will accelerate the development of Clifford Thames and position the group for the future.”
Simon Heath, KPMG’s automotive MA specialist, commented: “We are continuing to experience strong MA demand for automotive sector companies. The investment by LDC is the second private equity investment KPMG has advised on recently, following Rubicon’s buy-out of Goodridge earlier this year, and demonstrates appetite from both financial investors, alongside UK and overseas corporates.”
