LBM sells majority stake to private equity firm Isis

LONDON - LBM, one the UK's biggest list owners and call centre operators, has signed a private equity deal with Isis Equity Partners.

Isis has agreed to take a controlling stake in the data and outsourced contact services provider as part of a £50m transaction.

LBM founder Paul Beck remains chief executive and maintains the largest private stake in the business. Group sales director Ben Dixon becomes managing director of LBM Contact, the outsourced contact services division. Former Draft Direct UK chief executive Mike Housley joins LBM as the managing director of LBM Data, the data provision and services division. All of the existing management team will remain in place.

Founded in 1996, fast-growing LBM had posted a profit of £5.3m on turnover for the 2004 financial year of £28.9m, up 71% on the previous year.

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