A rapidly growing Birmingham technology firm has been taken over in a £28 million deal.
Inspired Thinking Group, based at Fort Dunlop, is expected to make an assault on the European market after being acquired by Bridgepoint Development Capital.
The company, which specialises in “below the line” marketing activity such as point of sale, digital and direct marketing, has seen revenues soar to £43.2 million since it was established four years ago.
Bridgepoint Development Capital has acquired a majority stake in the group, and will now support the existing management team to deliver the next phase growth both in the UK market and internationally into Europe and North America.
Adrian Willetts, a partner of Bridgepoint Development Capital, said: “Budget pressures and the growing complexity of multi-channel marketing are forcing businesses to streamline operations and improve campaign management, often with the support of technology. ITG offers a compelling customer proposition and has demonstrated an ability to win and retain customers in a large, growing market. We believe that the ITG team is capable of doubling the size of this business in the next five years.”
The company, founded in 2009, provides a broad range of marketing services which help marketing teams join up their production processes, take control of their data and work more effectively with their supply chain.
Bridgepoint previously supported chief executive Simon Ward in 1999 in the management buy-out of SP Group, a point of sale marketing materials manufacturer which was successfully sold to St Ives Group in 2004.
Mr Ward said: “The success of ITG to date has been driven by its ability to challenge traditional ways of working and in doing so deliver results for our customers in an increasingly complex and competitive market. We have an experienced and ambitious management team and we look forward to working with BDC to delivery our plans for further growth, both within the UK where we will continue to develop our range of marketing services and expertise, as well as internationally where we have recently had new business success”.
Banking for the transaction was provided by Lloyds.