LDC picks up education technology company Avantis

Avantis has generated revenues of over £20 million in the last 12 months.

  • The deal is LDC North West’s fifth in the last 12 months
  • Key Capital Partners will remain an investor in Avantis 
  • Avantis’ management team will stay in place

LDC has bought Avantis, a provider of virtual reality-based learning technology for the international education market, from Key Capital Partners. Avantis delivers its portfolio of learning products to thousands of schools in more than 90 countries.

Avantis, founded in 2007 and headquartered in Gloucester, England, has generated revenues of over £20 million ($23.3 million; €23.1 million) in the last 12 months. The Avantis management team will stay in place as part of the deal.

“The team at Avantis are bringing industry-leading technological solutions to the education market that support better outcomes for students,” said Aziz Ul-Haq, partner at LDC. “We’re looking forward to working to supporting the business reach even more students across the world.”

“It’s been fantastic to see so many schools globally embrace the power of virtual reality and we’re excited to be working with LDC to support our next phase of growth,” said Huw Williams, managing director of Avantis. “LDC’s sector experience from supporting leading ed-tech businesses like Texthelp was crucial when choosing a private equity partner to support our vision.”

The deal is the LDC North West team’s fifth investment in the last 12 months. LDC North West’s team completed transactions with a combined enterprise value of more than £500 million in 2021, a record for the firm. The firm said it is committed to investing in at least 100 mid-market businesses across the UK in the next five years.

LDC is the private equity arm of Lloyds Banking Group and is headquartered in London. It has a portfolio of 90 businesses across the UK and invests across sectors including construction and property, financial services, industrials, retail and consumer, financial services, TMT, travel and leisure, and support services.

The seller, Key Capital Partners, is a UK private equity firm that invests in UK businesses across all sectors. The firm is headquartered in Leeds and has an office in London. It looks to provide equity funding of between £3 million and £15 million for MBOs, equity release transactions and in support of organic and inorganic growth. The firm has retained a minority investment in Avantis following its initial investment in February 2020.