WBD advises LDC and management on exit of higher education marketing specialist, Hybrid

Womble Bond Dickinson (WBD) has advised the shareholders of Bristol-headquartered higher education marketing specialist, Hybrid, including longstanding client LDC, on the exit of the business to US-based education company EAB.

WBD advised LDC, the leading UK private equity investor, when it first invested in Hybrid in 2021. The transaction follows a highly successful four-year partnership that has delivered significant growth and international expansion, having more than quadrupled revenue and tripled headcount from 63 to almost 200 employees across six countries. WBD has been with Hybrid throughout that journey.

Hybrid operates across the UK, APAC and the US, with a fully integrated service offering combining insights, AI-driven technology, creative, strategy and digital marketing. Its services help to drive student enrolment for leading higher education institutions around the world.

Since LDC’s investment in June 2021, Hybrid has pursued an ambitious domestic and international expansion strategy. With support from LDC, the business opened its first US office in Philadelphia in 2022 and has since experienced significant organic growth across the country, complementing its established presence in Bristol, Sydney, Shanghai and Kuala Lumpur.

The WBD team advising the shareholders was led by corporate partner Alex Fergus with support from Tom Fitzpatrick, Joanna Norris and Danny Jeffrey. WBD acted on LDC's original investment into the business in June 2021 and has supported the business throughout the lifecycle of their investment in Hybrid, including the two strategic acquisitions of Prompt Marketing in 2023 and Crisp Digital in 2024, culminating in this successful sale for all shareholders.

Alex Fergus commented: 

"Hybrid is a real Bristol success story and we are delighted to have supported the business throughout its partnership with LDC, from the initial investment in 2021 to this successful exit. Our team has been proud to advise Hybrid on the strategic opportunities along the way, demonstrating our commitment to building enduring client relationships and helping to drive positive outcomes for all stakeholders involved."

Dewi Hughes, Partner and Head of South West & Wales at LDC, said: 

“We are immensely proud of what Chris Cammann, CEO, and the team at Hybrid have achieved over the past four years. The business has delivered exceptional organic growth, evolved strategically through acquisitions and technology, and achieved huge success through its expansion into the US and APAC markets.

“Hybrid’s success demonstrates the strength of its market-leading proposition and the quality of its management team. We have thoroughly enjoyed our journey with Hybrid and we are confident that the partnership with EAB will provide an excellent platform for the business’s next phase of growth, combining Hybrid’s global education expertise and AI-powered marketing solutions with EAB’s deep understanding of the US higher education market.”