Inflexion acquires IMD from Vitruvian

Under Vitruvian's tenure the business has undertaken an international expansion strategy, increasing its number of offices from four to 35. The company now has a presence in 30 countries across Latin America, Europe and the Asia-Pacific region.

IMD has made a number of bolt-ons, including the acquisitions of Singapore-headquartered EBus Media Network in February 2013, and China-based DongYang in October 2015. The company also invested in Chilean business A+V in February 2014, entering into a partnership that saw IMD expand its presence in Latin America.

Additionally, IMD has changed its approach to content delivery, moving from a hardware- and software-related model to a cloud-based approach.

Under Inflexion's ownership, the business will continue with its acquisitive international expansion strategy. It will also invest in developing its cloud-based platform and expanding its range of services.

Previous funding
Vitruvian backed the management buyout of IMD in March 2011, in a deal valuing the business at £33.9m.

Company
Founded in 1996, London-headquartered IMD distributes video advertising to broadcasters and online video platforms via an automated system. The company trades under the IMD, Optimad and Fastrax brands. It has 2,500 clients across 100 countries and generated a turnover of £21.1m in its most recent financial year.

People
Vitruvian Partners – Ben Johnson (partner).
Inflexion – Simon Turner (managing partner).
Group IMD – Simon Cox (CEO).

Advisers
Equity – DC Advisory (corporate finance); Squire Patton Boggs (legal); Deloitte (tax).
Vendor – Arma Partners (corporate finance); OC&C Strategy Consultants (strategic due diligence); KPMG (financial due diligence); Cloud Origin (commercial due diligence); Lincoln International (corporate finance), Dickson Minto (legal).
Management – Jamieson Corporate Finance (corporate finance); Osborne Clarke (legal); Deloitte (corporate finance).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Media
• United Kingdom
• Secondary buyout
• Vitruvian Partners
• Inflexion Private Equity