Munro global acquires maven research

12 April 2007

NEW ADDITION PROVIDES FURTHER CLIENT-FOCUSED MARKET RESEARCH CAPABILITIES FOR RECENTLY-FORMED GROUP

Independent research-focused marketing services group Munro Global has acquired Buckinghamshire-based market research agency Maven Research, it was announced today (Thurs.).

Formed in June last year, Munro already includes two established and successful market research firms within its portfolio: FDS International and acefieldwork.

This new acquisition, funded by Electra Quoted Management, the specialist asset management company, is the latest step for Munro as it looks to become one of the UK’s leading centres of excellence in the provision of research-focused marketing services solutions. Enlarged group turnover, with Maven, is forecasted to exceed £10million in 2007.

Richard Hepburn , C hief Executive of Munro, said: “Maven has an impressive, long-standing blue chip client base, alongside a skilled, experienced and motivated workforce, and it provides an excellent addition to our group.

“We will look to fully exploit a number of leading-edge technology and consultancy solutions developed within the Maven business for the benefit of clients across the wider Munro group.”

Mark Speeks, Director of Electra Quoted Management, added, “Munro fits perfectly into our investment criteria of finding smaller companies, with strong management teams and significant growth potential. The Maven deal represents a great opportunity to expand Munro’s offering to clients.”

Maven is among the UK’s ten largest continuous research agencies, specialising in Customer Satisfaction, Employee Satisfaction and Employee Engagement surveys.

Its clients include Lloyds TSB, Citroen, Daimler Chrysler, Vodafone, British Gas and Tesco Personal Finance.

Maven will be run as a separate entity within Munro, retaining its name, and Kathryn Lewis will remain as managing director.

Kathryn Lewis said: “This is an exciting development for Maven. We will continue to meet the research needs of clients by offering a full range of research services, both qualitative and quantitative. Our core value will be unchanged in delivering research solutions that add strategic value, while benefiting from the additional support and knowledge base of Munro.”

The acquisition will have no affect on the 50-plus jobs at Maven, who are based at the company’s two sites in High Wycombe.

Richard Hepburn , C hief Executive of Munro, added: “We will continue to grow both organically and through acquisition, enhancing Munro’s capabilities to deliver client-focused, business-enhancing solutions across a range of research focused marketing services disciplines.”

For more information, visit www.munroglobal.net.

Ends

For more press info, photos or to set up an interview, please contact Howard Bowden or Michelle Farrell at 3 Monkeys Communications, tel. 020 7440 2410 or email howard@3-monkeys.co.uk or michelle@3-monkeys.co.uk

Notes to Editors:

Munro Global was formed in June 2006. It aims to become a recognised centre of excellence in the provision of research-focused marketing services solutions.

Its companies include:

• FDS International - a recognised leader in customer satisfaction, benchmarking and mystery shopping research, founded in 1972, which has grown to become one of the UK's Top 25 agencies
• acefieldwork – a provider of excellence in face-to-face field-based research

About Electra Quoted Management Limited

Established in 1981, Electra Quoted is a specialist asset management company and a subsidiary of Electra Partners.  It manages three Electra Kingsway VCTs, Electra Active Value and EQMC European fund.  It concentrates on both the quoted and unquoted UK smaller companies arena, targeting both retail and institutional investors.  As at 31 December 2006 Electra Quoted had funds under management of over £140m.