Vector in $400m BIMBO for Experian's CCM division

Kenny Wastell
04 April 2017

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US-based GP Vector Capital has agreed to acquire the cross-channel marketing business (CCM) of credit ratings and data analytics group Experian, in a deal giving the business an enterprise value of $400m.

Vector and Peter McCormick, the co-founder of ExactTarget (now known as Salesforce Marketing Cloud), have taken a combined 75% stake in the company as part of the deal. Experian has retained the remaining 25%.

Under its new ownership model, the company will invest in product development and staff training.

McCormick will take on the role of chairperson at CCM following the deal, which is expected to complete by the end of Q2 2017.

Vector held a final close for its fifth fund on $1.4bn in February 2017, surpassing its $1.2bn target.

Company
Headquartered in Nottingham, CCM provides marketing services across various platforms including email, online, mobile and social media. The division comprises Experian Marketing Suite, CheetahMail and Mail Publisher, in addition to its professional services portfolio.

CCM has a headcount of 1,600 across 18 countries and serves 10,000 clients spanning 30 countries, according to the Experian website. Its clients include Starbucks Coffee, Virgin Money, Western Union and QVC. In the year ending March 2017, CCM is anticipated to have made EBIT of around $52m, according to a statement issued by the vendor.

People
Vector Capital – Alex Beregovsky (managing director).
CCM – Matt Seeley (president).
Experian – Brian Cassin (CEO).

Advisers
Vendor – Morgan Stanley (corporate finance).