Ascend, a global provider of aviation information and consultancy solutions, has received an additional £6m equity investment from LDC, the mid-market private equity arm of Lloyds Banking Group.
Ascend, which is based in London with offices in New York and Hong Kong, provides of data, analytics and advice to investors who finance aircraft.
The company will use the additional investment to support its growth strategy, innovative product development, expansion into new markets and tactical acquisitions.
The new capital commitment doubles LDC’s total investment in the company to £12m.
LDC acquired its initial holding in Ascend when in 2005 it backed a £10 million MBO of Airclaims, the leading provider of aviation claims, risk and asset management services since 1964. LDC recruited an entrepreneurial management team to spin-out a new company from the former information and consultancy arm of Airclaims, and the Ascend brand was born in 2006.
FinSMEs
23/04/2010