Record revenues for LDC-backed Omniplex Learning as the business targets further growth and considers additional acquisitions
Complete learning solutions provider Omniplex Learning, which empowers organisations to design, create and deliver effective and engaging digital learning, has achieved record revenues as it continues its expansion and eyes further acquisitions.
Turnover has increased by nearly a third over the past financial year from £10.97million to £14.44million (FYE: 30 June 2022) and is expected to grow to over £20m in the current financial year (FYE: 30 June 2023). The company, which is backed by LDC, has recorded more than 40% compound annual growth rate over the past three years and the majority of its revenues (>80%) are recurring.
Despite significant ongoing investment in its solutions and people, profits (EBITDA) also increased from £2.5m to £2.9m over the period, delivering a 20% margin. Omniplex Learning expects a further uplift in EBITDA this year after a strong start to trading in the current financial period (FYE 30 June 2023).
The financial results come just weeks after the acquisition of IT and digital transformation training specialist Good e-Learning. The acquisition, which is not reflected in the revenue and profit figures, was the second transaction made by the group since investment from LDC, the private equity investor which is part of Lloyds Banking Group, in 2021.
Last year, Omniplex Learning acquired SaaS digital adoption specialist Nickelled, which now operates as Omniplex Guide. The combined business now serves more than 3,000 customers with its services, using own software IP and providing access to some of the market’s leading learning platforms.
Omniplex Learning moved to new corporate offices in the North London commuter town St Albans in February 2023. The site is now home to more than nearly 90 employees, with plans to increase the workforce to 100 colleagues this financial year.
Patrick Jocelyn, CEO of Omniplex Learning, said: “We’re incredibly proud of the business we’ve built and have since established at the forefront of the online learning market. Our partnership in recent years with LDC has really accelerated our plans to expand in the UK and internationally. The strategic acquisitions we’ve made have been transformational from a solutions perspective as we realise our ambitions for the business and build an interesting pipeline of fresh opportunities.
“The performance of the business can also be attributed to the hard work of all our team in expanding organically. We’re deepening our customer base and provide them the best software with our own IP and that from across the market. The latest financial results reflect all that hard work and the real momentum we’re building in the market.”
Aziz Ul-Haq, Partner at LDC in the North West, said: “Patrick and the team have sustained an impressive growth rate which shows no sign of slowing down. Their ambition and hunger to keep innovating and improving have been key to that success. Those efforts are paying off in the financial results with record revenues, but also in the quality and scale of its customer base, the professionalisation of the business and the culture it has developed. They’ve since had a brilliant start to the latest financial year and we’re excited for the business’ future.”
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