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Leading lifestyle data provider DLG has today completed a refinancing of its operations, valuing the business at £72.5m and with management now holding more than 50% of the equity in the company.

 

CEO Jeremy Whitaker has led the secondary buy-out from private equity firm Promethean Investments, supported by new partner Kaupthing Capital Partners. This follows the original management buyout of Data Locator Group in March 2006 from founder Simon Johnson, and DLG's subsequent acquisitions of Wegener DM UK and 43 Plc in October 2006 and June 2007 respectively.

 

Jeremy Whitaker, CEO of DLG states: "Our refinancing marks the start of an even more aggressive period of growth for DLG, as we have agreed a substantial fighting fund with Kaupthing expressly to make further acquisitions to develop both our scale and capability."

He added:

"This will enable us to strengthen our position in the market even further, develop new products and raise customer service levels to even higher standards".

 

David Sherratt, Managing Director of Kaupthing Capital Partners comments:

"Kaupthing is delighted to be involved with DLG; DLG stands right at the forefront of multi-channel data-driven marketing, and we look forward to helping them accelerate their ambitious development and expansion plans over the coming months."

 

The executive board of CEO, Jeremy Whitaker; Chief Financial officer, Ivan Parkinson; Chief Sales Officer, Graham Bate and Chief Operating officer, Martin Rowland will be supported by a group of equity holding directors including current stakeholders Richard Webster, Sue Nelson, Jason Froggett and Mike Carruthers. There will also be a share option scheme to ensure that the next layer of management will be able to participate in and benefit from the next phase of growth.

 

DLG's pro-forma profits have risen dramatically from £2m to £8m since Whitaker took over as CEO in 2005, which he attributes to focusing on DLG's core business of data collection and provision rather than an expansion of analytical and consulting services which competitors have pursued. The next phase of growth for DLG will be in satisfying client demand for lead generation, for which on-line and mobile data will be the key. DLG aims to become the UK's principal data hub for all communication channels, linking its multi-channel data acquisition programme with consumer brand partners such as Friends Reunited.

 

DLG expects to complete its next acquisition within four weeks.