Chicago-based private equity firm Lake Capital Management has acquired the global market research firm ORC International from Infogroup. Terms of the deal were not released. The deal is the latest in a string of changes at Infogroup, including a company structure more focused on its core business, and new hires across the company. ORC International was acquired by Infogroup in 2006. UPDATE: Reed Phillips of Desilva + Phillips provided financial advice to Lake Capital.
Infogroup, the leading provider of targeted high-value sales and marketing data, market intelligence and innovative digital engagement solutions, today announced that it has sold its global market research firm, ORC International, to Lake Capital Management, a Chicago-based private equity firm. The terms of the transaction were not disclosed.
“During the past year we have taken a series of steps to focus Infogroup on serving the integrated multichannel sales and marketing needs of our clients” said Clare Hart, Infogroup’s President and Chief Executive Officer. “The sale of ORC International is a continuation of this effort and allows us to concentrate our resources on our core businesses which include high-value business and consumer data, customer list management and list brokerage services, multichannel marketing, and sales enablement solutions.”
The sale announced today follows several other recent announcements by Infogroup. These include the introduction of a more focused company structure organized around specific sets of client needs; the appointment of a Chief Product Officer; new hires in several strategic sales, account management and technology roles; and the establishment of a new client experience team focused on delivering a single consistent experience across all of the company’s products and services.
“We are committed to continually improving our products and services by investing in innovative multichannel sales and marketing solutions that help our clients meet the challenges of today’s market,” Ms. Hart said. “This transaction supports that commitment.”
Over the past several months ORC International has taken a number of steps to differentiate its services and expand parts of its business. In April, the company launched its new FDA and Regulatory Division, which is part of its International Healthcare and Pharmaceutical research division. To address the needs of human resources executives, ORC recently announced a new initiative, engage, an employee survey product designed for small and mid-sized businesses.
“I want to personally thank Marc Litvinoff and the entire ORC International team for their hard work and dedication since they have been part of the Infogroup family,” Ms. Hart said. “Because of their effort, ORC International is in an excellent position to focus on key areas of growth in research and global expansion.”
ORC International was acquired by Infogroup in 2006 and Guideline, which is now part of ORC, was acquired in 2007. The sale of ORC International to Lake Capital was effective July 1, 2011.
About Infogroup Infogroup helps companies increase sales and customer loyalty through our high value data, market intelligence and innovative digital solutions. We uncover and unlock revenue growth by enabling our clients — from local businesses to Fortune 100 companies — to connect and engage with their most valuable audiences millions of times each day. Infogroup data powers the top 5 internet search engines and 90% of the GPS systems in North America.