LDC invests in The 55 Group to support rapid growth underpinned by investment in technology and services

It comprises three brands, Pagabo, a procurement platform that connects private and public sector buyers to contractors via national frameworks, Loop, a social value measurement software and Sypro, a contract and risk management software service for project management.

LDC is backing The 55 Group’s management team, led by co-founder and CEO Simon Toplass, inset, as it pursues a growth strategy underpinned by further investment in its technology and services.

The group will also continue to expand its team of professionals which support clients based across the UK.

As part of the transaction, Maven, a UK investor in high-growth businesses, will retain a small shareholding in The 55 Group.

The transaction was led by LDC’s team in Yorkshire, including partner and head of Yorkshire Dan Smith, investment director Will Scales and investment managers Ana-Maria Garaba and Anthony West.

David Brennan, the technology entrepreneur and non-executive chairman of business mobility provider Nexus Vehicle Rental, will join the board as non-executive chairman.

Simon Toplass, co-founder and CEO of The 55 Group said: “Our stable of brands are perfectly positioned to support organisations at every stage of the procurement and construction management process.

"The help of the team at LDC, who have a track record of supporting technology and services businesses like ours, will be invaluable as we continue to invest in our offering and take the business to the next level.”

Dan Smith, Partner and Head of Yorkshire at LDC, added: “The 55 Group is a great example of a fast growing Yorkshire business led by an ambitious team.

“It represents LDC’s third investment in the region in just under 12 months, underlining our commitment to supporting the best businesses in Yorkshire.”

Will Scales, Investment Director, added “We are delighted that Simon and his team have chosen LDC as their partner to support the delivery of The 55 Group’s next phase of growth.”

The 55 Group was advised by Rothschild (Stephen Griffiths), Addleshaw Goddard (Richard Hunt and Peter Wood), Graph Strategy (James Tetherton) and KPMG FDD. Management were advised by Park Place (Richard Firth). LDC was advised by KPMG (Ben Taylor), Squire Patton Boggs (Paul Mann and David Milne), DSW FDD (Jonathan Steed), PMSI (David Crout), Better Faster Growth and Catalysis.

HSBC, advised by law firm DLA Piper, provided financing and working capital facilities to support the transaction.