Transcend Corporate director Steve Bartlett advised LDC during their £17.8m buy-out of Property Software Group from Guardian Media Group plc.
Established in 2007, PSG is the UK’s largest supplier of software, technology and design solutions to the property industry. Its circa 6,700 strong branches comprises some of the UK’s leading residential sales agents, residential letting agents and managers of letting properties. LDC’s investment provides the opportunity to accelerate the recent organic revenue growth of the business and also help to support the management team’s buy and build strategy, targeting complementary businesses to increase market penetration and expand Property Software Group’s existing customer base in what is a fragmented market. The deal also enables the Guardian Media Group to fully exit the business.
Alastair Weinel, Investment Director, LDC, said: “Steve’s involvement in the deal was instrumental to its successful completion. He got stuck in and provided valuable support in a very tight timescale. He quickly understood the complexities of the transaction and was committed to providing us with the advice we needed to get the deal done.”