BDO advises LDC on its investment into UBDS Group
BDO advises LDC on its investment into UBDS Group
Accountancy and business advisory firm BDO LLP has advised LDC on its investment into UBDS Group, a fast-growing digital transformation and cybersecurity consultancy, as it pursues an ambitious growth strategy.
Founded in 2019 by Diptesh Patel, UBDS Group is headquartered in London, with offices in Manchester and Bengaluru, India. It provides specialist digital lifecycle, cloud adoption, cybersecurity, data and AI services. The business offers comprehensive end-to-end digital solutions tailored for the public and private sectors and employs approximately 300 people.
The business has grown rapidly, with headcount increasing fivefold since 2022 and revenue rising by almost 150% over the past three years. This growth has been supported by the increasing strategic importance of digital transformation for organisations and underpinned by two successful acquisitions in 2024 – Rayo, an AWS consultancy, and 3B Data Security, a cyber security services business.
LDC, the private equity investor that is part of Lloyds Banking Group, is backing UBDS Group’s management team, led by CEO Alex Gore, alongside CFO Kevin Wheeler, Group Chief Client Officer Sam Pillai, Group Chief Solution Architect Paul Collins, Group Chief Technology Officer Matt Johnson and Group Chief People Officer Emma Durkin.
The team has been in place for over four years and has led the business through a period of significant scaling and operational maturity. LDC’s investment will help the business pursue its organic and acquisitive growth strategy to add complementary capabilities and geographic reach.
LDC was advised by BDO’s London M&A Deal team, including Gordon Carstairs, Will Tingle, Andrew McAlpin and Dom Kuttel. LDC was also supported by BDO’s Debt Advisory team, including Ross McDonald, Steve Carr, Will Reeve and Emma Morris.
BDO has assisted technology companies from start-ups to some of the world’s biggest multinationals with a broad range of services.
Gordon Carstairs, Deal Advisory Partner at BDO, said: “It has been great working with the team at LDC on such an exciting investment. BDO’s private equity credentials mean we are ideally placed to support investors and businesses looking towards PE to accelerate growth. There’s been strong levels of activity in the tech M&A space in the first half of 2026 and this is an excellent example of the appetite from investors to back exciting, high quality, mid-market businesses to drive growth.”
The investment was led by LDC Partner and Head of South, Aylesh Patel, alongside Partner Chris Baker and Investment Manager Ana-Maria Garaba. Aylesh and Chris will join the UBDS board as Non-Executive Directors.
Alex Gore, CEO of UBDS Group, said: “We’re proud to have built a business that’s trusted by some of the largest organisations in the public and private sectors thanks to our dedication to client outcomes, security and reliability. With LDC’s support and technology sector experience, we’re confident we can accelerate our organic growth and pursue targeted acquisitions to add real capability. We’re looking forward to working together.”
Founder of UBDS Group, Diptesh Patel, is transitioning to a Non-Executive Director role as part of the transaction. Peter Sweetbaum has been appointed Chair, bringing extensive professional services and private equity-backed experience.
ENDS
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