Gateley Legal advises LDC on exit of literacy and accessibility tech company
The London office of Gateley Legal has 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 40 per cent 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.”
Steve Aston, senior director at LDC, added: “Martin, Mark and the team have built a business focused on unlocking potential through innovation and technology. We’ve enjoyed supporting their growth ambitions and seeing them out-perform both their own plans and the broader market. We wish them every success and we’re looking forward to watching them become even more of a household name in the global EdTech and Accessibility market.”
The London office of Gateley Legal is located in Paternoster Square. The office was established in 2007 and has more than 100 professionals offering a broad range of legal expertise from litigation to restructuring and employment to real estate work.