Specialist Bristol digital media agency Hybrid has received a £13m investment to continue to expand organically while also exploring acquisitions.
Hybrid, which creates digital outcomes for clients, helping them to engage specialist audiences across the higher education and technology sectors, received the funding from leading mid-market private equity firm LDC’s the South West and Wales team. 
Launched in Bristol in 2009, Hybrid quicky expanded into overseas markets, including Asia and Australia and today partners with universities globally to support student recruitment, develop differentiated brands and provide tailored insights and data analytics to drive marketing strategy.
As well as its HQ media hub on Bristol’s Queen Charlotte Street, pictured right and below, it also has offices in Kuala Lumpur and Sydney and employs more than 70 people worldwide.
Its international client base includes the University of Bristol, Australian National University and Columbia University in New York, alongside global tech brands such as Autodesk, Cisco and Verizon.
It provides clients with a full suite of digital marketing services, including campaign development, media planning and buying, content creation and data analytics.
It also owns and operates a number of prominent web brands, including Study International, U2B, Tech HQ and Tech Wire Asia. 
The investment from LDC, Lloyds Banking Group’s private equity arm, will support Hybrid’s management team, led by CEO Chris Cammann, to broaden its services to clients and pursue its domestic and international growth ambitions.
Founder James Craven will continue to support the business and provide strategic advice as board director.
The investment was led by LDC’s head of South West and Wales, Dewi Hughes, and investment directors Oliver Schofield and Stefan Gunn.
Dewi and Oliver will join Hybrid’s board as non-executive directors. As part of the transaction, Hybrid has appointed industry pioneer Jerry Buhlmann as non-executive chairman. Jerry brings more than 30 years’ experience in media and advertising to the business, having previously been CEO of Aegis Group and then Dentsu Aegis Network.
LDC was advised on the deal by the Bristol office of transatlantic law firm Womble Bond Dickinson and accountancy firms EY and BDO, which provided financial and tax advisory and financial and tax due diligence respectively. Commercial due diligence came from London-based strategy consultancy Plural. 
London-based specialist advisory firm Sequence acted for Hybrid along with Bath-headquartered law firm Royds Withy King and regional accountants Bishop Fleming, which financial and tax advice.
Hybrid CEO Chris Cammann, pictured right, said: “The partnership with LDC creates an outstanding platform for our team and allows us to pursue a strategy of constant innovation for our clients.
“We want to keep breaking new ground and take our performance with our tech and higher education partners to the next level.
“The last 12 months has highlighted the importance of digital channels and our work has enabled higher education institutions in particular to continue to drive engagement with their core audiences at a time when student recruitment has never been as important.
“When we were exploring our funding options, we were keen to remain in the driving seat of our business but wanted support from an experienced and knowledgeable investor with a committed source of capital and a shared belief in our goals. LDC understands our direction and we’re looking forward to the journey together.”
Hybrid founder James Craven, pictured right, added: “I am incredibly proud of the people at Hybrid and their work to achieve this milestone. The timing is right to accelerate and scale our growth and continue to evolve our global offering.
“LDC is an ideal investor to super-charge Hybrid. We’ve got an outstanding leadership team, people and culture so I’m delighted for everyone and know they’ll grasp the opportunity with both hands. I look forward to supporting Chris and the team to realise the potential.”
LDC’s Dewi Hughes said with the increasing global use of digital media, there was a significant opportunity for digital marketing agencies that can engage specialist audiences.
“The team at Hybrid has a strong track record of innovation and growth, an established international network and a passion to provide market leading outcomes for its clients. We are excited to support the team’s ambitions and plans,” he added.
Womble Bond Dickinson partner Tom Fitzpatrick said: “LDC are a long-standing client of other WBD offices, and we have acted on many deals where LDC were involved, but this is the first deal where our Bristol team has acted for them and we are delighted to have them as another private equity client.”
