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Market and Sector Type:: Media & Marketing

Direct marketing group changes hands

Article Date: Nov 17 2008

West Midlands-based entrepreneur David Grove has bought direct marketing company GI Solutions (GIS) with backing from private equity.

The deal was funded by GE Capital, the financial services unit of US technology group General Electric, together with the commercial banking arm of Alliance & Leicester. Financial details were undisclosed.

Grove, who heads Grove Industries, becomes the chairman of GIS, with existing managing director Robin Welch and the rest of the management team remaining in their roles.

Says Grove, ‘Our track record is one of being willing to take a much longer view than many private equity investors.’

Welch comments, ‘New ownership has given us an even stronger commitment to the strategy that is right for us, as well as finance for further product development and investment.’

Established 16 years ago, GIS has annual sales of £30 million and specialises in direct mail, database marketing and digital printing. The company has 158 staff in Leicester and 12 in China.

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Direct marketing group changes hands

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