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£25million investment in Manchester digital agency

cticopy

Manchester-based CTI Group has secured a £25m minority investment from LDC.

The cash will be used to support the next stage of its international growth through a “buy-and-build” strategy, which will see it opening offices in the USA, Europe and Asia.

“We’re excited to create new opportunities as we bring our expertise to bear for clients all around the world through a combination of organic growth and further acquisitions,” said Nick Rhind, CEO and Founder of CTI.

“Our people will continue to be at the heart of everything we do and this partnership will enable us to continually invest in them through a first-class training and development programme, as well as enhanced career progression pathways, rewards and recognition.”

CTI has acquired 5 companies in the last 3 years and employs 175 staff in Manchester and Lancaster. Last year it recorded revenues of £18m.

As part of the transaction, Richard Ibbett and Dale Alderson from LDC Manchester will join its board, as will new non-executive chairman, Simon Wilkinson, the former CEO of global software services company Mobica.

“Nick and the team have built an impressive digital agency that is growing rapidly. Our support will help the management team to accelerate this momentum. We are already working closely with them to support a pipeline of exciting opportunities that will further expand the business,” stated Richard Ibbett, Investment Director at LDC in Manchester.

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