- 25 June 2020
- Transport / Logistics Services
Transport management software provider Mandata has bought an online haulage and freight exchange with funding by private equity firm LDC. The purchase of Returnloads.net will expand Mandata’s customer base as well as its breadth of digital services in its portfolio.
Mandata originally secured backing from LDC in 2018, and as a result has seen recurring revenues grow by 10% annually. The company has pursued a growth strategy that is focused on inward investment. Earlier this year the company launched a platform called Mandata Now, a transport management system for small haulage and logistics operators.
“Returnloads.net’s focus on using digital solutions to benefit the road transport and logistics sector matched our own objectives perfectly. This acquisition will help us diversify and expand our offering, while continuing to give customers the tools they need to reduce costs, drive efficiencies and improve productivity,” said Chris Rigg, chief executive of Mandata.
“Since LDC’s investment, we have made significant progress on our growth plan. Innovation underpins our model, so it’s been invaluable to work with a partner that understands how to support technology businesses and has the financial firepower, sector knowledge and heritage in the North East we need to achieve our ambitions.”
Gareth Marshall, head of Newcastle at LDC, added: “LDC actively supports management teams which are looking to grow their businesses through acquisition. This acquisition is a major milestone in Mandata’s growth journey and evidence of the strength of the North East’s technology sector during such an uncertain time for businesses.
“We have worked closely with Chris and the team to fund and support this acquisition. I’m confident Mandata is now even better positioned to help customers thrive as UK transport becomes increasingly digital.”