The Carlyle Group to acquire Evolution Funding from LDC.

The Carlyle Group, a global investment firm, agreed to acquire Evolution Funding, the UK’s largest used auto finance platform, from LDC, a mid-market private equity house. Financial terms were not disclosed. "We believe Evolution holds a unique position in the UK’s motor finance market, built upon capturing the opportunity to provide a differentiated, technology-based platform which helps both lender and dealer partners navigate change from digitisation and regulation. In Carlyle, we have found the ideal partner to continue our growth journey, given their experience growing and scaling entrepreneurial technology businesses like ours," Lee Streets, Evolution Funding Founder and CEO.