LDC has backed the MBO of uSwitch.com, one of the most recognised brands and established businesses in the UK price comparison market.
LDC has acquired a significant stake in the business with the vendors Forward Internet Group retaining a substantial minority holding. Both investors will align with the existing management team who will also have a minority holding in the business. LDC’s focus will be on supporting the company’s strong management team to deliver on its clear vision and compelling growth strategy.
Founded in 2000, uSwitch.com is a UK-based free, impartial price comparison and switching service. It allows consumers to compare prices for a range of energy, communications and financial services.
Since its acquisition by FIG in 2009, uSwitch.com has significantly accelerated its growth. uSwitch employs 135 permanent staff and last year was ranked the top website by Hitwise, the leading global online competitive intelligence service, in the ‘Business and Finance – Utilities’ category, having been runner up for the previous three years.
The company has grown both organically and through acquisition, with its recent purchase of Top10.com, a popular broadband and mobile phone comparison business.
FIG is a privately held investment company that creates, acquires and invests in web and consumer businesses and has a portfolio of over 25 companies.
Daniel Sasaki, Managing Director of LDC London commented, “Our role is to back British growth companies and we are delighted to help foster the expansion and enhance the performance of uSwitch.com, which has established itself as one of the most well-regarded businesses and strongest brands in the price comparison market. It plays a key role as a consumer champion, giving people the tools to secure the best deals on all their essential utility, internet and financial services products and also contributes to making these areas of the UK economy more efficient, which will help to drive the country’s economic recovery.”