LDC’s investment will help the company to capitalise on new regulatory requirements, and introduce new software apps.
Based in Castleford, West Yorkshire, Stroma was established in 2002 by Matt Ferguson, Rob Coxon and Steve Turner. The business employs more than 200 people, including 40 software developers.
The business has two divisions; Stroma Certification, which provides training, accreditation and software apps used across the energy assessment market; and Stroma Technology, which is a provider of regulatory-driven consultancy services. Altogether, Stroma serves a base of more than 4,000 clients. The deal was led by LDC investment directors Simon Braham and Chris Wright.
Mr Braham said: “Since launching Stroma in 2002, Matt Ferguson and his team have very successfully driven the evolution of the business from a technical consultancy to a software-led certification provider to the UK energy efficiency industry.
“Stroma is widely recognised as a high quality training provider that has developed leading software apps that reduce the complexity of reporting and compliance requirements for its users. Stroma’s services and additional apps are expected to be in strong demand.”
RBS provided the debt finance in support of the transaction.
Altium and DWF advised the vendors, while Clearwater and Addleshaw Goddard advised LDC. Dow Schofield Watts Transaction Services team provided financial due diligence on the deal.
The deal represents LDC’s second investment in the North of England this year.
LDC backed Warrington- based procurement services business CEL Procurement in March 2014.