Active tech investor Scottish Equity Partners (SEP) has led a £10.5m MBO of Brighton-based email and SMS digital marketing services firm Pure360. SEP invested £6.5m, with Investec and management stumping up the rest, to pay out London-based VC, Encore Capital.
Encore acquired a majority stake Pure360 in March 2009 alongside Harry Meikle, former group MD of QAS, the Nottingham-based address management software firm acquired by credit reference and data services giant Experian in 2004. Not a bad investment for Encore, exiting with a 4x return and 47% IRR. And another illustration of investor excitement around all things digital media.