We are delighted to announce that Ashtons has secured a significant investment from mid-market private equity investor LDC. The deal will help our existing management team to drive organic growth, further develop our software services, and expand our warehousing and distribution infrastructure.
In the last three years, Ashtons’ revenue has increased by 70 per cent to reach £18.7 million in 2019, and the company currently employs 90 staff. LDC’s investment will support our organic growth strategy, and they are backing Ashtons’ experienced management team of Chief Executive Officer Yachna Tak, Chief Pharmacist Martin England, and Financial Director Keith Hersee. The deal also marks an exit for Ashtons’ Founder, Laurence Sprey.
“LDC’s investment and support will help us further improve our proposition, enabling our clients to maintain the best practices and professional standards in medicines management and the highest quality of patient care.” – Yachna Tak, CEO
The investment was led by LDC Director Christian Bruning and Investment Director Joe Tager, who will both join the board. As part of the deal, software specialist Mark Goddard, joins as Chairman. Mark has experience of developing fast-growing software businesses and was previously the CEO of LDC-backed The Property Software Group.
Yachna Tak, CEO of Ashtons, said: “We have developed a market-leading proposition so that our customers can better support their patients through our outsourced pharmacy service and bespoke software solutions.”
Christian Bruning, Director at LDC, added: “Yachna and her team at Ashtons have built a thriving business model with a loyal customer base and the potential to grow into new markets. With more than 20 years’ experience each, the management team know the sector inside out and clearly value the role technology and software play in improving the services they offer. We are looking forward to supporting the team on the next stage of its growth journey.”