Livingbridge is delighted to announce the successful divestment of its stake in leading marketing services business Inspired Thinking Group (“ITG”) in a £28 million deal led by Chief Executive Simon Ward supported by Bridgepoint Development Capital (“Bridgepoint”).
The exit has delivered a return of 3.4x for Livingbridge’s clients the Baronsmead VCTs at an IRR in excess of 40%.
ITG is an innovative marketing services business that helps international brands and retailers to improve the efficiency of their marketing operations and customer communications by putting control back in the hands of the marketeer, reducing production costs and accelerating time to market.
Livingbridge originally invested £3.2m in ITG in June 2010, in order to support the Management in its acquisition of Total Marketing Service LLP (“TMS”) whose workflow software sits at the heart of the Media Centre platform, a cloud based technology which allows clients to manage their marketing operations in real-time on any device.
Since investment by Livingbridge, ITG has further established itself as one of the market leaders in retail marketing services in the UK, through the further development of its innovative Media Centre technology platform and relentless focus on customer service. ITG now has an impressive list of clients which include many leading brands and high street retailers. Sales have grown from £14m in 2010 to £43m in 2013.
Simon Ward, CEO, ITG, comments: “ITG is a dynamic, ambitious business that is pushing back the boundaries of traditional marketing. To do this we need an agile business culture and Livingbridge have supported this culture superbly over the last three years.”
Pete Clarke, Partner, Livingbridge who led the deal for Livingbridge, comments: “ITG is a fabulous business led by CEO, Simon Ward and an incredibly talented team. ITG has changed the face of traditional marketing for retailers and brand owners delivering control, lower cost and a reduced time to market without stifling creativity – a marketeers dream! We have enjoyed every minute of working with Simon and the team and wish them well in the next phase of the development of the business – long may their success continue.”