Encore Capital exits Pure360, reaping 4x and 47% IRR
Encore Capital has sold digital marketing software company Pure360 for £10m, reaping a 4x return on the original investment and an IRR of 47%.
Scottish Equity Partners (SEP) led the investment in Pure360 with £6.5m, with the remaining equity provided by Investec and management.
Pure360 joins SEP's portfolio of digital media firms, including travel search site Skyscanner and social media analytics company SocialBro.
The fresh capital will accelerate Pure360's growth and fund new developments to its platform for marketers.
Company
Founded in 2001 and based in Brighton, digital marketing software company Pure360 works with brands including Virgin and innocent drinks.
The company has doubled its turnover since 2008. With this investment 65 new jobs will be created, taking the Brighton-based firm's number of employees from 100 to 165.
People
Gordon Beveridge led the deal for SEP. Stuart Dawson is the CEO of Pure360.
Advisers
Company – GP Bullhound (Corporate finance).
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