UBM makes leading acquisition
Lead in Research (LIR), the sales leads business based in Warwick, has been acquired by London-based United Business Media. The purchase was made on behalf of parent company UBM Built Environment for an initial cash payment of £1.15m.
A further deferred performance-related consideration of up to £300,000 will be payable at the end of 2010.
United Business Media said that the acquisition of LIR was a “complementary addition” to its existing Barbour ABI business.
LIR uses planning applications to compile detailed information on relocation, refurbishment and business expansion projects taking place across the UK. The company employs five staff and in the financial year to May 2010 generated revenues of £400,000.
Adrian Barrick, chief executive of UBM Built Environment, said: "I am very pleased to announce this acquisition, which will enhance our current product offering and complement UBM Built Environment's existing ABI business.
We are pleased to have acquired a high quality product that we can use to respond to our clients' requests for additional product offerings in post-construction lead supply, as well as helping us to attract new customers.
We believe that LIR will provide further synergies - for example, with our Property Week brand - and generate strong revenue growth in the future".
