LDC Takes Minority Stake in Evolution Funding
February 19, 2019
Mid-market private equity investor LDC has taken a significant minority stake in Evolution Funding in a transaction that values the business at £110 million. The deal is backed by acquisition finance from Santander and Aviva Investors; Evolution will remain led by its co-founders and will use the capital to scale its Evolve technology, expand its dealer and direct-to-consumer propositions, and grow its UK presence.
- Buyers
- LDC
- Targets
- Evolution Funding
- Industry
- Payments & Fintech
- Location
- Derbyshire, United Kingdom
- Transaction Type
- Growth capital
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