Lloyds Banking Group’s private equity arm, LDC, has splashed out a huge investment into Scottish IT firm Kick ICT.
The move will help Kick’s UK growth plans.
The deal also marks a win for BGF, the investor backing Kick ICT since 2021.
Kick is based in Bellshill, North Lanarkshire, providing IT, communication, and digital services to over 1,000 customers.
The company, which has more than 170 staff, specialises in Microsoft and Infor business and finance solutions and modern infrastructure, cloud services, and IT support.
Kick ICT, set up in 2015, has grown organically and through buying other companies in the past few years.
In November 2023, it snapped up Dundee-based C2 Software Limited, its ninth buy, boosting its Microsoft Dynamics services across the UK.
LDC’s investment aims to help Kick ICT grow across the UK by buying more firms that match its services, especially in Scotland and North England.
Kick ICT CEO Tom O’Hara said: “Our business has grown massively over the last few years. We’ve kept investing in our technology and people and added several exciting, innovative companies to the group to offer more services and expertise to our customers.”
“The team at LDC have a lot of experience in helping businesses like ours grow by buying other firms, making them the perfect partner as we spread our presence in Scotland and across the UK.”
LDC Scottish investment director Lee Donaldson said: “The fast pace of digitalisation across the economy means lively businesses like Kick ICT will lead to growth across the UK ICT sector in the years to come.”
