LDC secures majority stake in Horsefly from Mercia

Horsefly is an artificial intelligence-based talent analytics platform.

  • LDC’s investment in Horsefly was led by Jacob Leone and Camilla Greenwood
  • Mercia, an asset manager, first invested in Horsefly in 2013
  • LDC is the private equity arm of Lloyds Banking Group and is headquartered in London

LDC has secured a majority stake in Horsefly, an artificial intelligence-based talent analytics platform, from Mercia Asset Management. No financial details of the transaction were disclosed.

Horsefly is based in Liverpool, England.

LDC will support Will Crandle, founder and CEO of Horsefly, to accelerate its growth organically, both in the UK and internationally, according to a release.

“Horsefly’s market-leading platform provides its clients with actionable insight to help them shape their workforce in an ever-changing global economy,” said Jacob Leone, investment manager at LDC.

LDC’s investment in Horsefly was led by Jacob Leone and Camilla Greenwood.

Leone and Greenwood will be a part of the board alongside incoming chair David Gilbertson, a non-executive director in the business intelligence sector, the release stated.

Mercia first invested in Horsefly in 2013. Horsefly reported year-on-year growth since 2018 and doubled its revenues in the last financial year.

Mercia, based in Warwickshire, England, is an asset manager focused on supporting regional SMEs. The firm has around £1.4 billion of assets under management.

LDC is the private equity arm of Lloyds Banking Group and is headquartered in London. The firm has a UK-wide network of regional offices.

LDC was advised by PwC (financial and tax due diligence), Squire Patton Boggs (legal) and Teneo (commercial due diligence).