DWF advises LDC as it invests in CEL Procurement

DWF has advised LDC, the leading mid-market private equity house, on its investment in procurement services business CEL Procurement (CEL), in a deal which will help to fuel the firm’s ambitious acquisition strategy.

CEL delivers procurement services for public sector organisations in the UK, primarily in social housing, and the company holds exclusive rights to the Procurement for Housing brand, which allows CEL to procure the EU compliant framework agreements. The business manages in excess of £180 million of products and services through its purchasing activities, including building materials, energy and agency labour, and it processes over 400,000 invoices each year for more than 800 social housing, independent healthcare and education-related organisations.

The investment, which sees LDC take a minority equity stake in CEL, will support the business as it explores complementary acquisition opportunities to expand its presence in the UK and in select international markets, including Canada and the USA.

Richard Ibbett, investment director at LDC, commented: “CEL’s management team has worked hard to deliver impressive growth in recent years and establish its enviable market position in the social housing sector. Our investment recognises the significant prospects of CEL, in the UK and abroad, and will help to accelerate the next stage of the business’ development and expansion.”

Jonathan Robinson, corporate partner at DWF, led on the deal and added: “LDC is a longstanding client and it was a pleasure to work with them again on a deal which further demonstrates their commitment to back high growth SMEs. Their experience in supporting ambitious management teams on their growth strategies ensures they are a good fit with CEL and will enable the business to identify and maximise any potential acquisition opportunities.”

Jonathan was supported by senior solicitors Vicky Ross and Sinead Ormerod in the corporate team at DWF.

Jonathan Robinson

Partner - Head of Private Equity

I am a Partner and head of the firm’s Private Equity team.