BGF invests £2.6m in MRM

The investment will be used to fund further international growth with a focus on expanding MRM's presence in North America. MRM will recruit a local team in the US to support its customers, develop new business, and expand its print partner network. The company also has plans to triple the size of its Edinburgh-based software engineering team.

Meanwhile, MRM has appointed Andy Fennell as non-executive chairman. Fennell previously spent 18 years at Diageo where he was president of Smirnoff, global chief marketing officer, and, latterly, president of Diageo Africa.

The deal, delivered from BGF's Edinburgh office, is its third new investment since the lockdown began in March.

Company
MRM's technology platform is intended to enable global drinks manufacturers and wholesalers to measure the level of marketing support they provide to their independent hospitality and retail customers. Based in Edinburgh, the company was founded in 2001.

Advisers
Equity – Burness Paull (legal).
Company – MBM Commercial (legal); Reference Point Advisory, Alan Watt (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Technology
• BGF (Business Growth Fund)
• United Kingdom