International law firm Addleshaw Goddard has advised The 55 Group on an investment from LDC, the private equity arm of Lloyds Banking Group, to support its growth.

The 55 Group, a procurement and technology specialist employing more than 90 people, provides built environment-related software and services to public and private organisations across the UK. The 55 Group has grown rapidly in recent years thanks to increased demand for digital services that support sustainable procurement practices and investment in critical UK infrastructure.

The Addleshaw Goddard team advising on the deal included Richard Hunt, Pete Wood, Tom Hopwood, Caera Loughran, Nick Clarke and Katie Baxter (Corporate), Martin Griffiths, Cat Concannon and Adam Kobeissi (Tax).

Richard Hunt said:

"It's great to see a high-growth business such as The 55 Group secure the backing to take it to the next level, and we are delighted to have been able to support them in this transaction. I am sure that co-founder and CEO Simon Toplass and the team, whose growth strategy has attracted this support from LDC, will ensure the business thrives as it moves forward.

"The technology and particularly the procurement tech space has seen significant investment activity over recent years and remains extremely attractive to investors. It is fantastic to continue our run of advising founders and management teams in the technology sector on their strategic plans – a trend that shows no sign of slowing down in 2024."

Simon Toplass, CEO of The 55 Group said: "We are delighted to have completed this transaction and Addleshaw Goddard played a crucial role in helping us get there. We are grateful for their sound, pragmatic and unflappable advice throughout the transaction and for the dedication of their team towards delivering a favourable outcome for the shareholders and then management team, without ever losing their positivity and good humour. We look forward to continuing our working relationship with them going forwards."