The 55 Group has received a significant investment from LDC, the private equity arm of Lloyds Banking Group.
It means the exit of Maven Capital Partners which helped form and grow the group, following its investment in 2021.
The Hull company includes Pagabo, Sypro and Loop, providing services and software for procuring and management complex construction projects- particularly for the public sector and large enterprise clients.
Since 2021, the company has more than doubled in size, with a workforce of 100 and a new purpose built headquarters in the centre of Hull.
“Our partnership with Maven has been instrumental in realising our vision of creating a business that supports the evaluation of social value, ethical procurement, and sustainable contract and risk management across the built environment,” said Simon Toplass, CEO of The 55 Group.
“Their funding, support, and shared vision have been pivotal in our rapid growth and the successful development of The 55 Group. There are exciting opportunities ahead and we look forward to continuing on this growth journey with our new investment partners.”
Maven has reinvested a portion of the exit proceeds alongside LDC.
“The successful sale of The 55 Group underscores the value of our investment strategy which is focused on backing exceptional management teams running high growth businesses, which often require investment or additional expertise to unlock their potential,” explained Ryan Bevington, Partner at Maven.
“In less than three years, we’ve seen the successful integration of three complementary businesses and the creation of an ESG focused digital platform which supports many of the UK’s leading public and private sector organisations in the delivery of their infrastructure plans.”
From 19th March, The 55 Group is rebranding to become Pagabo Group
