Private equity house LDC to buy SSP

Private equity house LDC is to buy insurance software house SSP, Insurance Times understands.

SSP is currently owned by US private equity house Hellman & Friedman, which bought the company in 2008 in a £198m deal.

The software house was previously listed on the London Stock Exchange’s Alternative Investment Market.

LDC is part of Lloyds Banking Group. The mid-market private equity firm backed loss adjuster Davies’ management buy-out in 2008.

More recently, LDC backed the management buy-out of claims management and counter-fraud software company Validus-IVC in March 2013.

A spokesman for LDC declined to comment. SSP did not immediately return requests for comment.