The deal, which is being funded using capital from its private equity partner, follows on from LDC’s initial investment in EDM Group in September 2011.
As part of deal last year, the Wolverhampton-based outsourced information management company was part of a £52 million merger with fellow information management provider Sala International.
In December 2010, LDC purchased a majority stake in Sala before completing a further two bolt-on deals involving similar businesses Microstat and Arrow Imaging.
As part of the deal, the founder of London-headquartered Filing Plus, Guy Spragg, has joined the EDM management team.
He comments, ‘EDM Group’s ability to deliver a genuinely coherent information management solution, based on proven outsourced services, will provide a wealth of opportunities to our current client base.
‘Importantly, with what is probably the UK’s largest capacity for document digitisation, the group’s size and scale also means that our customers will be able to realise the tangible and commercial benefits of these purpose-built solutions in a relatively short period of time.’
On the back of the transaction, EDM Group now employs 640 people across eight locations in the UK.
Sam Ferguson, chief executive of EDM Group, says the acquisition highlights the company’s ambition to grow the business while also providing an ‘established presence’ in London.
Alex Clark, investment director at LDC, adds, ‘The successful completion of another high-quality acquisition reflects our belief that there is real scope to build the company, and going forward we will continue to work closely with the team to identify further acquisition opportunities to support EDM’s buy-and-build strategy.’