TDC Impact Fund accelerates PPL growth with £10m MBO investment
Deal News | Feb 10, 2025 | TDC's Impact Fund
The TDC Impact Fund, in collaboration with Arete Capital, has backed Product Partnerships Limited (PPL) with a £10 million investment aimed at completing a management buyout (MBO) and fostering growth. PPL, a regulated compliance solutions provider based in Leeds, is recognized for its regulatory technology and services designed for companies with consumer credit products under the Financial Conduct Authority (FCA) regulations. The investment enables PPL to expand its offerings, enhance their proprietary technology platform, and explore strategic M&A opportunities, while continuing to strengthen its leadership team and board appointments. Arete played a crucial role in structuring the deal, ensuring future acquisition potential and supporting the expansion into high-growth sectors such as green energy. With a client portfolio featuring notable names like Google and Aston Martin, PPL is set to intensify its presence in the compliance sector. The transaction was supported by legal and financial advisors, with PPL's CEO expressing optimism for their evolving tech into a SaaS solution, aiming to capture emerging market opportunities.
Sectors
- Financial Services
- Regulatory Technology (RegTech)
- Private Equity and Venture Capital
Geography
- United Kingdom – Both PPL and the participating entities, TDC and Arete, are based in the UK, making this geographical location relevant to the article.
- Leeds – PPL is headquartered in Leeds, emphasizing the importance of this specific UK region in the context of the company's operations and expansion.
Industry
- Financial Services – PPL operates within the realm of the Financial Conduct Authority (FCA) regulations, providing compliance solutions for companies dealing with consumer credit.
- Regulatory Technology (RegTech) – PPL's focus on enhancing their proprietary technology platform for compliance places them within the sector of RegTech.
- Private Equity and Venture Capital – The involvement of TDC's Impact Fund and Arete Capital in funding and structuring the MBO highlights the role of private equity in this transaction.
Financials
- £10 million – Funding provided by TDC's Impact Fund and Arete Capital to facilitate PPL's management buyout and growth.
- £260 million – The volume of credit transactions overseen by PPL across its network.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Product Partnerships Limited (PPL) | Target company | Company | A compliance solutions provider expanding its services and technology with new funding. |
| TDC Impact Fund | Private Equity Investor | Company | A provider of the £10m investment supporting PPL's MBO and growth ambitions. |
| Arete Capital | Private Equity Investor and deal structurer | Company | Collaborator in the funding and structuring of the MBO, enhancing leadership at PPL. |
| Peter Cowgill | Chair | Person | Appointed Chair of PPL, former Executive Chairman of JD Sports, bringing retail experience. |
| Phillip Garlick | Chief Executive of PPL | Person | CEO of Product Partnerships Limited, orchestrating the company’s growth strategy. |
| Simon Lord | Partner at Arete | Person | Led the deal structuring and implementation from Arete's side. |
| Jamie Newall | Deal Leader at Arete | Person | Involved in leading the transaction for Arete. |
| Hill Dickinson | Legal Advisor | Company | Legal structuring support, represented by Matt Noon and Alex Thow. |
| Cortus | Financial Advisor | Company | Provided financial advice for the transaction, led by Ben Emmett. |
| Claritas Tax | Tax Advisor | Company | Handled tax structuring for the deal, led by Peter Hully. |