News blog
DM
- BY: Andrew Hore |
- POSTED: 12/11/2008 |
Customer information and database management business DM has bought some of the assets of Data Locator Group from the administrators.
DM is paying £3.25m for the assets. It will also collect all the outstanding debtors of the business that it can for the administrators.
DLG supplies consumer lifestyle data to direct marketing companies. It has the postal details of 20m people, the phone numbers of 4.5m people, email addresses for 5.8m people and 6.2m mobile numbers. The database also includes lifestyle data, purchasing habits and preferences.
That is a valuable database and there should be cost savings as well as opportunities to cross-sell existing DM data. DLG lost £3.67m before tax on revenues of £15.3m in the year to June 2008.
In 2006, DLG was sold by Simon Johnson to its management team backed by Aim-quoted Promethean for £23.5m. The business made operating profits of £5m in 2005. It subsequently acquired Wegener DM Group from Koninklijke Wegener.
Promethean sold its 71% stake to a Kaupthing-backed private equity fund in October 2007. It received £46.2m for its shares and loans against an initial investment of £16.1m. That gave the business an enterprise value of £75m. In the year to June 2007, DLG made £140,000 pre-interest profit on revenues of £20.5m.
When the Icelandic bank got into financial difficulties the fund was put in administration.
DM is giving its shareholders the chance to take the 3.5p a share cash interim dividend in the form of shares so that they can increase their shareholding and enable DM to retain cash. The cash dividend will be paid on 23 December instead of 25 November. The shares went ex-dividend in October.
At 9.75p a share, DM is valued at £14.1m.
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