LDC’s sale of investment stake in Texthelp
We have advised LDC on the sale of their investment stake in Texthelp, a specialist in literacy and accessibility technology, to Five Arrows Principal Investments.
Texthelp enjoys an established, loyal customer base across Europe, America, the Middle East and Australasia where they have supported 30 million students and employees with reading, writing and numeracy. They also help those with productivity challenges, such as dyslexia or working in a second language.
The firm employs over 180 staff and partners with the likes of Google, Microsoft, Apple and more of the world’s leading technology brands, in order to deliver the most compatible, best-in-class products and solutions.
With the backing of Five Arrows, Texthelp plans to continue its global expansion, investment in new technology and new product development pipeline.
The deal was led by corporate partner and head of Gateley Legal’s London office, Paul Hayward, with support from corporate associate, Zum Mohammed.
Paul commented: “We are really pleased to act for LDC on the exit of their investment. We also advised LDC in May 2019, when they originally invested into Texthelp to accelerate its organic growth plans in the UK, US and internationally. During the 18-month partnership, the market leader’s revenue increased by 40% from £19m to £27m. Evidently, LDC’s investment has been invaluable in providing Texthelp with the expertise to expand their services across the globe, target growth opportunities and develop new products.”
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