LDC backs management buyout of GMG Property Services


real estate_lrgUK mid-market firm LDC has backed the £17.8m management buyout of GMG Property Services, which provides software services to estate agents.

LDC will take a significant stake in the business, which will now be rebranded as The Property Software Group, the firm said in a statement.

The company owns and licences four software brands, CFP Software, Vebra Solutions, Core Systems and Alto. It currently has an annual turnover of more than £10m.

Property Software Group said the investment will help it grow organically and via acquisitions.

Managing director of LDC’s Reading team Yann Souillard said, “In Property Software Group, we are partnering with a high-quality management team and a market-leading business which has a strong platform from which to generate further growth through Alto.

“The business provides a premium service to its customer base of residential agents and property managers, and is supported by a well invested infrastructure.

“Going forward, we will work closely with the team to identify acquisition opportunities to accelerate growth and lead consolidation of the market.”

LDC’s other recent deals include the exit from UK-based vehicle management group Leasedrive.

The firm has invested more than £350m in 22 new deals and a further £50 m of capital to support portfolio business acquisitions so far this year.

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