Deal Group Media completes MBO
- Added:
- Dec 18, 2007
The management of affiliate network dealgroupmedia (UK) has completed a buyout of the company from Deal Group Media plc.
The buyout was completed by Carl Davis, Deal Group Media plc’s Chief Technical Officer, and John Porter, Chairman of Deal Group Media plc.
Deal Group Media plc remain a shareholder of the new UK business.
Carl Davis, dgm’s interim Managing Director, said: “This is a fantastic opportunity for dgm UK and we are looking forward to expanding our UK business. It was through my appointment as interim MD that I realised the opportunity for an MBO and the benefits it could bring to the business. We will now drive our business forward, target and win major new accounts, develop an unparalleled affiliate network, and, with the wealth of talented people we have, deliver a high quality personal service to both our customers and partners in the UK.”
“We feel privileged to have been a part of the wider Deal Group Media plc group and we look forward to continuing to work with them in the future,” said John Porter. “Now, as we look to the future, we are excited about the prospect of operating as an independent company and becoming the first choice online marketing company for advertisers and affiliates.”
The management buyout of dgm UK was self financing and has not been funded by debt. dgm UK was officially purchased by ITS Ltd, a corporate vehicle acquired by Carl Davis and John Porter to execute the deal.
Among the plans for the new company is a vision to expand operations into Europe. In addition to providing new opportunities for dgm UK, the buyout is expected to enable Deal Group Media plc to fully focus on expanding into new markets such as the Far East.
The dealgroupmedia company was founded in 1999, as the UK’s first affiliate network provider.