Mentha buys Insites Consulting
Mentha Capital has acquired a majority stake in Belgian market research company Insites Consulting.
All 13 current managing partners will remain in their roles and will partner with Mentha to implement a buy-and-build strategy, according to a statement.
Insites is the fifth deal from Mentha's fifth fund, which held a final close on €143m in January 2017. The vehicle is expected to make 8-10 investments in total.
The business has recorded compound annual growth rate of 15% over the past few years, resulting in revenues of around €30m in 2017. It plans to accelerate its growth through regional expansion and the addition of strategic capabilities.
Company
Insites was founded in 1997 as a spin-out from the Vlerick Business School. It supports global brands with their marketing and digital strategies. The business has seven offices on three continents and employs approximately 200 people.
People
Mentha Capital – Edo Pfennings (partner); Dirk Vriend (investment manager).
Insites Consulting – Kristof De Wulf (CEO); Tim Duhamel (chief strategy officer).
Advisers
Equity – Laurius (legal); Finvision (financial due diligence); Nielen Schuman (debt advisory).
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