LDC takes stake in Centiq

Private equity firm LDC has taken a ‘significant minority stake’ in a transaction to support the SAP HANA services business, Centiq Group.
Established in 1998 and headquartered in Nottingham, Centiq is an IT services and software provider, specialising in the design, configuration and implementation of SAP HANA, SAP’s in-memory platform.The business will continue to be led by CEO and founder, Glyn Heath, alongside Sales Director, Gareth Pritchard, and the existing management team. The deal was transacted by LDC’s Nottingham team of Andy Grove and James Robinson, with support from Matt Newbold. Andy Grove and James Robinson will both join the board with immediate effect. The management team will be further supported by the appointment of Colin Garrett and Rob Jones, who join the board as non-executive chairman and finance director respectively.Andy Grove, director and head of LDC’s Nottingham office said: “Centiq is a highly-impressive business that is well placed to capitalise on future growth opportunities. It has carved out a niche position within the IT services sector as a specialist in the SAP HANA space, which in turn lends itself well to driving new business growth with blue-chip corporates.“We look forward to partnering with Centiq’s ambitious management team as they look to build further on recent successes with HANA deployment, as well as their market leading software offering, Monitiq.” Glyn Heath, chief executive of Centiq Group said: “SAP’s HANA transforms the ways in which organisations can exploit the value in their growing, complex data, and this represents a substantial area of growth for Centiq. “This is an exciting time for our business and LDC’s investment brings additional strategic support and financial backing that will help to increase the pace of our ambitious growth plans. We look forward to the future with increased confidence that we can capitalise on the large, expanding market opportunity.”