Bridgepoint Development Capital has partnered with IDHL to provide a substantial investment to support the ambitious growth plans of the Harrogate-based connected agency group.
IDHL employs over 240 people and serves a nationwide customer base supporting businesses throughout the process of digital transformation. This is achieved through a connected group of specialist companies, recognised for their specific expertise but underpinned by the IDHL growth platform. Its expertise is centred principally around search engine marketing, eCommerce, web design and build, and automated email marketing.
This unique growth platform has enabled the group to rapidly evolve a number of recent complementary acquisitions, growing to seven brands across five locations. IDHL is now set to acquire further businesses in the UK and internationally, enabling it to provide an even greater choice to clients in order to meet their digital transformation needs.
BDC’s substantial investment follows a year of record growth for IDHL, despite challenging market conditions, as clients have adapted to an accelerated digitisation of their businesses. For the year ended 31 December 2020, unaudited EBITDA was GBP5.6 million from revenues of GBP19.4 million, an increase of nearly 40 per cent from the prior year.
Read more/Source: Private Equity Wire
