Lloyds TSB Dev Cap backs Peer Information Group

Investee Company – Peer Information Group

Investee Company Country – UK

Investee Company Business Type – Publishes computer programming material

Type of Financing – Development Capital

Equity Providers – Lloyds TSB Development Capital

Equity Leader (Individual) – John Handley

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £4 million

Total Deal Value – £4 million

Other Advisors – Deloitte & Touche, Pincent Curtis Biddle, Eversheds, Ernst & Young, COBA

Comments – Peer Information Group, a publisher of computer programming material, has received a £4 million investment from Lloyds TSB Development Capital. The capital will be used to launch a web-based journal and e-books. Peer is also looking to expand its operations.

The company’s first e-journal, launched in February 2001, already boasts several thousand subscribers.

Peer Information, based in Birmingham, was founded in 1992 by managing director, David Maclean. The company publishes programmers and web designer’s experiences, source codes and insights via books and the Internet.

John Handley, head of the Lloyds TSB Development Capital’s Birmingham office, said: “We believe that the Peer Information Group has made remarkable progress since 1992, growing from a local start-up to an exciting worldwide business, well placed to operate in the dynamic ‘techno-lit’ sector.”

“Demand for their product is driven by the constant evolution of technology, operators’ desire to keep pace and growing user communities particularly in the area of web design.”