PwC has acted as lead advisor to LDC on its significant investment in 15below
PwC has acted as lead advisor to LDC on its significant investment in 15below, a specialist software developer and marker leader in automated passenger communications for the travel industry. PwC provided Corporate Finance and Tax services to LDC.
Based in Brighton, 15below is the market leader in hyper-personalised, automated passenger communications for the travel industry. Its proprietary software platform enables its customers - mostly airlines - to keep passengers informed at every stage of their journey with minimal human intervention. This includes operational updates on travel itineraries, booking confirmations and boarding passes, pre-departure communications, as well as real time updates on schedule changes and unplanned disruption.
The company supports more than 60 airlines, rail operators, travel agencies and travel management companies worldwide, including British Airways, Cathay Pacific, Etihad Airways and TUI, as well as being the strategic partner to global airline software systems providers Amadeus and Navitaire. Its automated technology is used to communicate with one billion travellers a year and has many benefits for airlines and their customers, with the removal of human error in passenger communications as just one example. As a result, travel companies that work with 15below improve passenger experience whilst delivering cost savings and increasing customer loyalty.
LDC is backing CEO and co-founder Nicholas Key and his management team as they embark on a five-year growth strategy. The investment will help 15below to further develop its proprietary technology to support existing and new clients. As part of the transaction, Ian Wheeler, former Amadeus executive and airline technology Chair will join 15below as Chair.
PwC Corporate Finance acted as lead advisor to LDC - the team advising on the deal was led by Rick Jones, with support from Richard Day, Chris Hobbs, India Raynes and Dylan Longden.
PwC’s Tax services were provided by Simon Viner, Hannah Windsor, and Emily Holdsworth.
“The importance of technology in providing seamless, hassle-free communications to customers across sectors continues to increase, and this is particularly evident in the global travel industry which has bounced back significantly since the Covid-19 pandemic. Nick and the team at 15below are incredibly ambitious. They’ve not only developed a platform that meets this growing need but have cultivated a culture where talent can thrive and together this is fuelling the company’s growth. We’re excited to invest and support them to extend their capabilities, bringing to life more of the exciting ideas in their product roadmap.”
“In PwC Corporate Finance, we have significant experience advising travel and tech businesses – and Private Capital investors into the sectors. Many congratulations to the LDC and 15below teams. The two of you will go far together and we wish you every success for your partnership.”
Contact us
UK Hospitality, Sports & Leisure leader, PwC United Kingdom
Tel: +44 (0)7710 627834
