Isis sells LBM Direct Marketing to Stream Global Services

Isis acquired a majority stake in LBM for £11.5m in October 2004. The transaction was funded with equity from the Isis III fund. The sale yields an exit multiple of 1.9x.

Company
LBM is an Altrincham-based support services company that provides data and lead solutions to businesses in sectors including telecommunications, financial services and retail. The company employs 2,500 people across six locations in the UK.

The company's new owner, Stream Global Services, is a business process outsourcing services company that focuses on sales, customer care and technical support. It operates 50 offices globally and employs 37,000 people.

People
Pete Clarke and Andy Gregory led the initial investment for Isis, while Mark Turner joined the board of the company in 2004. He will leave the board upon completion of the deal. Mark Bates is CEO of LBM.

Advisers
Vendor – Catalyst Corporate Finance, Jamie Hope (Corporate finance); Addleshaw Goddard (Legal).

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• Topics
• UK / Ireland
• Support services
• Exits
• ISIS Equity Partners
• United Kingdom
• United States
• Trade sale