| GP Bullhound acted as the exclusive financial advisor to LDC on its more than £17m investment into Beekman Associates, the developer and provider of the data-driven marketing procurement platform RightSpend.
Headquartered in London and with a second office in New York, Beekman Associates and its industry-leading software platform RightSpend supports global brands in the assessment of their marketing activity in real time, to help save and optimise marketing spend and manage agency relationships more effectively.
The business has an extensive blue-chip client base which includes many of the world’s largest brands, each leveraging an extensive pricing database covering 75 different international markets, and 10 marketing specialisms including creative, digital, design, PR, production and events. The deal sees LDC backing the experienced existing management team as part of a Management Buyout.
David Andrews, Director at LDC, said: “The impressive client base and track record that RightSpend has developed speaks for itself. The business model and proprietary technology, coupled with a highly scalable proposition, means the business is well-placed to expand and build on its success to date.”
Simon Nicholls, Partner at GP Bullhound, added: “We are delighted to have advised LDC on their investment into RightSpend. This investment will enable Beekman Associates CEO Iain Seers and his team to build on their success to date and support the business’s evolution into a leading global marketing procurement software platform.”
This transaction is a further testament to GP Bullhound’s expertise in software with 12 transactions completed in the last 12 months globally, including CVC’s $200m investment in EcoVadis, Wavecrest Growth Partners and Beringea’s $29m investment in EDITED, the acquisition of Assetic by Dude Solutions, and Accel-KKR’s $50m investment in Partnerize, among many others. |
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About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com.
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