Vista, a provider of IT and tech support services to the likes of Odeon Cinemas and Pets at Home, has secured a £14m investment from private equity firm LDC.

The deal values the Cardiff-headquartered firm at almost £30m and will allow it to accelerate its growth and fund new acquisitions.

Vista installs, manages and maintains in-store technology for some of the biggest names in retail, hospitality and leisure in the UK and Europe, enabling innovation in payment technologies, robotics, virtual reality applications and artificial intelligence.

Founded just over 10 years ago, the company now employs more than 200 people and generated sales of almost £18m in its latest financial year (2016).

"We have established ourselves as the go-to partner for IT and technology support in the retail, leisure and hospitality sectors, but we want to extend our reach further and continue to grow both organically and through strategic acquisitions," said managing director Richard Cottrell.

"From the outset, LDC understood the ethos of the business, which is centred on providing outstanding customer service to our clients. This made them a natural growth partner for us. Having LDC on board will give us the additional expertise and firepower needed to develop the business and capitalise on market opportunities to significantly increase our operations and scale.”

The investment will support Vista's ongoing growth strategy, both at home and abroad. This may include funding potential acquisitions and helping the business expand into new sectors.  

The deal will see LDC take a significant stake in the business, while the management team will increase its shareholding, providing an exit for existing backers WestBridge Capital and Octopus Investments.

Investment directors Dewi Hughes and Pete Latham will join the board, alongside the existing management team. Mark Molyneux will join the board as chairman and Kath Roach will join the board as non-executive director.

LDC was advised by Deloitte, Blake Morgan, Hullbrook and Alvarez and Marsal. Financial advisers to WestBridge were PwC while Capital Law provided legal advice. The management team were advised by Deloitte and Hugh James.