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DEAL DIRECTORY RAISING FINANCE
LPM GROUP CLEANS UP WITH REFINANCING DEAL
LPM Group, a UK provider of A team at Armstrong
contract cleaning, security and Transaction Services conduted
LPM Group
maintenance services, has commercial due diligence on
debt refinancing
completed a £12 million LPM, led by associate director
refinancing backed by Edward Hikmet.
Clydesdale Bank. Hikmet commented, “Armstrong
This announcement appears as a matter of record only
The funding will provide LPM has previously worked with
Funding provided by: with a war chest to continue its Sovereign Capital on a number
buy-and-build strategy. of deals in the sector and asked
Buy-and-build specialist Armstrong for commercial due
Sovereign Capital backed the buy- diligence on LPM Group as part
in management buy-out of the of its debt refinancing.
Commercial due diligence provided by:
business in 2006 and has since “LPM is a national contract
supported the bolt-on acquisitions cleaning company with a national
of washroom business Dependable footprint, and the refinancing
Services and contract cleaning supports the ongoing buy-and-build
specialist InterCity Group. strategy to grow the business.” ■
MOVIDIA RECEIVES FUNDING BOOST
Mobile video processing company their own video content on the
Movidia has secured more than move without the need for a PC.
Movidia Ltd’s $14 million
US$14 million (£9 million) from Dublin-based financial
funding round
an international syndicate led by services group OFM Solutions
Celtic House Venture Partners and has provided Movidia with
Capital-E. Other investors included accounting, finance and cash
This announcement appears as a matter of record only
Emertec Gestion, AIB Seed Capital management and taxation
Financial adviser: Fund and Enterprise Ireland. services since incorporation.
The funds will be used to OFM designed and maintained
enable the fabless semiconductor the financial planning model and
and software company to market provided input to the due
its technology, which enables diligence process for the funding,
user-generated content (UGC) “with cost-effective, flexible and
video production functions for scalable financial management
mobile phones and other services for small, high-growth
electronic products. The technology companies”, the
technology allows users to edit company said. ■
DATACTICS COMPLETES £1 MILLION FUNDING
A Belfast-based data management Mulcahy said this is an exciting
specialist has secured a seven- time for the company, as the world
Datactics figure investment from an existing is facing increasingly complex data
receives funding
shareholder and an Icelandic fund security challenges.
in a move that it hopes will expand Datactics was advised on the
This announcement appears as a matter of record only
its operations. Datactics, which legal issues by A&L Goodbody.
serves companies such as Bank of Peter Stafford, who led its team
Funding provided by:
Ireland, Philips and KPMG, secured with Maeve Curley and Kate
the capital from Viridian Growth Cooper, said the firm was brought
Thule Investments Fund and Thule Investments. into the transaction due to its
Viridian, managed by Belfast- experience of advising on fundings
based Clarendon Fund Managers, involving private equity and venture
Legal adviser to Datactics: provided £250,000 after originally capitalists in Northern Ireland.
backing the company in March Founded almost a decade ago,
2007. Reykjavik firm Thule Datactics has become a major
Investments invested £750,000. provider of data cleansing and
Datactics chairman John reporting systems. ■
62 Mergers & Acquisitions
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