Bezier offloaded in £77m deal
Retail media outfit Bezier has been sold by parent company Electra Partners to US-based private equity group MidOcean for £77m.
Bezier has built a strong list of clients in recent years and had a recent turnover of £60m from its four operations in Poole, Bristol, Wakefield and London.
The company specialises in point-of-purchase, direct mail, ambient, outdoor and digital media, working with the likes of Asda, Superdrug, Homebase and First Choice.
Graham Thomas, managing director of MidOcean, said: “Market trends have shown a shift from above-the-line to below-the-line advertising.
“In particular we have identified POP has a high growth market and so we are delighted to now own the market leader in this sector.
“I am confident this will be a prosperous and exciting partnership for both Bezier and MidOcean Partners now and into the future.”
MidOcean Partners has a number of media and communications outfits under its belt and has traditionally focused on growing mid-market sized companies.
Mark Shaw, group chief executive at Bezier, said: “New investment is recognition of our incredible potential and recent achievements including a target busting turnover of over £60m and expansion into two new sites.
“There will be some structural changes to senior management roles however colleagues will be largely unaffected by this sale and ambitious targets for continued growth and expansion mean great new opportunities for new and existing employees.”
By Kevin May
This article was first published on mediaweek.co.uk
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