Drystone Strategy | Invitation Digital Ltd / Cloud Savings
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Invitation Digital Ltd / Cloud Savings

Invitation Digital Ltd / Cloud Savings

Drystone Strategy Partners provided commercial due diligence for a Perwyn LLP backed MBO, within which the Cloud Savings Company bought Invitation Digital Ltd (IDL). IDL is owner of Bristol based Vouchercloud and Giftcloud and following a management buy-out (from the Vodafone Group), control of the company has returned to founders Scott Davidson and Greg Le Tocq.

Business:                      Invitation Digital Limited / Cloud Savings Company

Sector:                          Online / Technology

Investor:                       MBO

Investment size:          £ not disclosed

Vouchercloud is one of the UK’s largest online voucher sites and Giftcloud a leading player in the growing B2B and B2C digital gifting markets. Last year, Vouchercloud hit 9.2m app downloads and generated more than £500m in sales. The company partners with more than 12,000 retailers, from New Look to Italian eatery chain Carluccio’s, and has grown (since its launch in 2010) from a three-person team to employing more than 100 staff today.


Drystone provided comprehensive commercial due diligence for the deal in a short time frame, at the busiest time of the year (Black Friday month). This included in-depth customer and partner interviews with the UK’s largest high street and online retail firms. Further interviews were undertaken at technology and affiliate marketing companies, alongside a wide range of industry and technology experts/competitors. The result was a comprehensive market view from multiple perspectives.



As the second online / software deal Drystone worked on in Q4 2017, the work built upon our extensive experience in the sector. As a result, Drystone have another two live projects in software space as 2018 gets underway.


The Drystone team was led by Director Chris Winslet. For further information, or if you are working in a similar sector, please contact us:

Chris Winslet; +44 (0) 7595 998 331, +44 (0) 020 7307 5917 chris@Drystonestrategy.co.uk

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