Marketing Services - a driving force within Livingstone
April 2006
Twenty plc has acquired Dataforce Holdings as a first step of its data-focused buy and build strategy in the marketing services sector. Twenty acquired Dataforce in conjunction with a move from Ofex to AIM, having raised capital to support an £11m headline price for the business. Livingstone were retained by the shareholders of Dataforce to sell the business and secured ten offers for the company, highlighting strong appetite in the sector for quality businesses. Three bidders were then taken to the later stages of negotiation.Dataforce is a leading independent provider of integrated data-driven customer relationship management solutions via data analytics, contact centres and fulfilment. Its clients span FMCG, retail, government, charities, automotive, travel and finance and include Heinz, RNIB, Tesco, Inland Revenue, the Royal Navy and Mercedes.
Livingstone’s, director, Nigel Morgan, who led the negotiations on behalf of the vendors, recognises that opting for a disposal to an Ofex company seeking a transition to AIM and raise funds was an unusual course to take, but he says: “Dataforce is a strong business with a highly credible business model and strong, long term customer relationships. The acquisition will give the Twenty team a great platform for their buy and build strategy. Furthermore the structure of the deal has enabled the accomplished management team at Dataforce to reinvest in the enlarged group.”
Dataforce shareholder Anthony Rice commented “Livingstone has done an excellent job both in terms of understanding the marketplace and identifying potential purchasers as well as negotiating this transaction to a successful completion.”
Grant Newton, Dataforce Finance Director, said “Nigel handled the transaction very well and I am grateful for the advice and support that he gave senior management during the process. It is a great result for the whole Dataforce team and we are excited about our future with Twenty and their strategy going forwards.”
Tim Lyle, Partner,
Tel: 020 7484 4710
Email: tlyle@livingstonepartners.co.uk
Nigel Morgan, Director
Tel: 020 7484 4733
Email: nmorgan@livingstonepartners.co.uk
