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LDC backs CEL Procurement

19 Mar 2014

pound_sterling_170sqMid-market firm LDC has backed Warrington-based procurement services business CEL, which is aiming to expand via acquisitions.

CEL delivers procurement services for public sector organisations in the UK primarily in social housing.

The company manages more than £180m of products and services through its purchasing activities, including building materials, energy and agency labour.

CEL processes more than 400,000 invoices each year for more than 800 social housing, independent healthcare and education-related organisations.

LDC investment director Richard Ibbett said, “CEL’s management team has worked hard to deliver impressive growth in recent years and establish its enviable market position in the social housing sector. Our investment recognises the significant prospects of CEL, in the UK and abroad, and will help to accelerate the next stage of the business’ development and expansion.

“Private equity has an important role to play in supporting British businesses in order to catalyse job creation and economic growth.

“This deal is further evidence of our commitment to back high growth SMEs and provide the financial support to maximise the potential of these scalable companies.”

Earlier this month LDC said it would invest up to £500m in the manufacturing and specialist engineering sector by the end of 2015.

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