£14m LDC investment will allow Vista to grow

AN IT services company has secured a £14m investment from mid-market private equity firm LDC to accelerate its growth and fund new acquisitions.

Vista Retail Support provides specialist support to some of the biggest names in retail, hospitality and leisure in the UK and Europe, enabling innovation in cutting-edge payment technologies, robotics, virtual reality applications and artificial intelligence.

The business installs, manages and maintains in-store technology for many of the UK’s leading brands including Lloyds Pharmacy, Monsoon, Odeon Cinemas and Pets at Home, helping to maintain critical infrastructure and high levels of customer service.

The deal values the business at almost £30m.

Vista, founded just over 10 years ago, generated sales of almost £18m in its last financial year. Headquartered in Cardiff, it operates across the UK, employing more than 200 people, including 120 field service engineers.

The investment will support Vista’s ongoing growth strategy at home and abroad, including funding potential acquisitions and helping the business expand into new sectors.

The deal, which enables the firm’s existing backers WestBridge Capital and Octopus Investments to exit their investment, will see LDC take a significant stake in the business, while the management team will increase its shareholding.

Managing director Richard Cottrell said: “Having LDC on board will give us the additional expertise and firepower needed to develop the business and capitalise on market opportunities to significantly increase our operations and scale.”

Dewi Hughes, head of LDC Cardiff, said: “We’ll be working closely with the team to pursue organic and acquisition-led growth opportunities to help deliver the business’ long-term ambition.”

Investment directors Dewi Hughes and Pete Latham join the board. Mark Molyneux will join as chairman and Kath Roach as non-executive director.