LDC backs transport software firm in £20m deal
A developer of transport management software has been sold in a £20m secondary buyout backed by private equity investor LDC.
Founded in 1974 and based in Northumberland, Mandata provides software that allows road transport operators to manage workflow and data more effectively.
Its transport management software integrates a suite of end-to-end products, including traffic planning and management, tracking, telematics and invoicing.
The company has been sold by Synova Capital to LDC, the private equity arm of Lloyds Banking Group, in a deal worth £20m.
Mandata will use the financial support to embark on the next stage of its ambitious growth strategy.
"Businesses across the transport and logistics sector are continually looking for new ways to reduce costs, drive efficiencies and improve productivity," said CEO Mark Norcliffe.
He added: "We've made significant progress in recent years and are now at a key point in our growth journey.
"We're an ambitious business and by partnering with LDC we not only have the financial support to help us turbocharge growth, but a strategic partner that brings a track record of supporting high-growth technology businesses, has an on-the-ground presence in the North and an in-depth knowledge of our sector."
Under Norcliffe's leadership, Mandata has grown rapidly and currently supports many of the UK’s haulage businesses. The business employs 60 people at its offices in Cramlington and Leeds.
The deal was led by LDC investment directors Ben Snow and Gareth Marshall, along with director John Garner.
Snow, who will join Mandata's board as a non-executive director, said: "Hauliers and logistics businesses want data at their fingertips. By investing in its product offering, Mandata is helping its customers to harness their data, make the shift from paper-based to online operations and ultimately operate more efficiently.
"The business has gone from strength to strength under Mark’s leadership and as market demand increases there is huge potential for further growth.
"For us, Mandata has the three key ingredients we look for in any business. It has a fantastic product and proposition, an ambitious and highly-skilled."