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£20m buyout at transport management software firm

A transport management software firm has been bought by a private investment company in a GBP20m deal. LDC has backed the secondary buyout of Mandata, which has a Leeds office and employs 60 people, in a deal which is expected to accelerate organic growth. The deal also represents an exit for private equity firm, Synova Capital.

Mandata, headquartered in Northumberland, designs and develops software that allows road transport operators to manage workflow and data more effectively. Mark Norcliffe, CEO of Mandata, said: “Businesses across the transport and logistics sector are continually looking for new ways to reduce costs, drive efficiencies and improve productivity. By developing innovative software solutions, we’re helping to streamline activity and deliver results that have a tangible impact on our customers’ bottom line.

“We’ve made significant progress in recent years and are now at a key point in our growth journey. We’re an ambitious business and by partnering with LDC we not only have the financial support to help us turbocharge growth, but a strategic partner that brings a track record of supporting high-growth technology businesses, has an on-the-ground presence in the North and an in-depth knowledge of our sector.” Under the leadership of Norcliffe, Mandata has grown rapidly.

Today it supports many of the UK’s haulage businesses, actively managing over 10,000 vehicles. The transaction was led by investment directors Ben Snow and Gareth Marshall, and director John Garner at LDC in Leeds. Snow will join the board as non-executive director.

Snow added: “Hauliers and logistics businesses want data at their fingertips. By investing in its product offering, Mandata is helping its customers to harness their data, make the shift from paper-based to online operations and ultimately operate more efficiently. The business has gone from strength to strength under Mark’s leadership and as market demand increases there is huge potential for further growth.

“For us, Mandata has the three key ingredients we look for in any business. It has a fantastic product and proposition, an ambitious and highly-skilled management team and a clear growth strategy.” Graham Pearce and Nisha Sharma at KPMG advised LDC on its investment.

Graham Pearce, head of TMT for KPMG in the North, said: “The UK haulage industry is on the cusp of a technology revolution, which will radically improve efficiency and address the margin pressures that challenge so many haulage companies. “It is really exciting that a local business, Mandata, is at the forefront of that wave in innovation and LDC’s investment recognises the business’ significant potential to further disrupt the industry.” LDC was advised by KPMG (corporate finance and transaction services) and Muckle LLP (legal).

Mandata was advised by Clearwater International (corporate finance) and Pinsent Masons (legal). Debt funding was provided by Santander. Click here for a comprehensive list of West Midlands deals >

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