WORLD - United Business Media (UBM) has bought UK company Lead In Research (LIR) for £1.45m (US$2.34m).
The deal for the boutique sales leads business extends UBM’s Barbour ABI sales leads presence within UBM’s Built Environment portfolio.
The company was acquired from its founder, Mark Hurley, for an initial cash payment of £1.15m. A further deferred performance-related consideration of up to £300,000 is payable at the end of the year.
UBM’s Built Environment includes the Property Week conferences and exhibitions, which serve developers, investors, financiers and advisors.
Chief executive of UBM Built Environment, Adrian Barrick, said LIR would be used to respond to 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,” he commented.
