LDC invests in CEL Procurement
Clearwater International has advised private equity house LDC on its investment in CEL Procurement, a procurement services provider for public sector organisations.
LDC has taken a minority stake in the procurement services business for an undisclosed sum to support its plans for acquisition opportunities in the UK, US and Canada.
CEL employs 35 staff at its headquarters, managing more than £180m of products and services through its purchasing activities which include building materials, energy and agency labour.
The company holds exclusive rights to the Procurement for Housing brand, which allows CEL to procure EU compliant framework agreements.
CEL, which processes over 400,000 invoices each year for more than 800 social housing, independent healthcare and education-related organisations, de-merged from parent company CEL Group following a management buyout in 2008.