IMAC snaps up Review Centre
RTL founder Paul Nadin exits in £7m deal
Ingenious Media Active Capital (IMAC) has bought a majority stake in the company behind the growing user-generated website reviewcentre.com.
The £7m management buy-in means that the investor now has a 71.5% stake in Resource Team Ltd (RTL), which generates money through pay-per-click advertising.
As a result of the deal, Nick Hynes, formerly chief executive of Searchworks and Glen Collins, founder of Digital Outlook, have become non-executive chairman and CEO respectively.
Hynes said: “Review Centre has been one of the innovators amongst online review sites and so I’m very excited to be given this opportunity.
“Our team’s online marketing experience will help drive increased growth for the business, while we are looking to enhance the revenue generated per user through improving advertising revenues.
“Our future plans for the business include international expansion and bolt-on acquisitions.”
The deal also means that RTL’s founder Paul Nadin, who set up the business in 1999, will exit the business to concentrate on new opportunities.
Sanjay Wadhwani, director of Ingenious Ventures, said: “I’m delighted to make this investment which taps into the trends in user generated content and online marketing.
“Review Centre has shown impressive top line growth in the last couple of years due to its success in driving traffic through search engine optimisation, and the effectiveness of its pay-per-click model. However it has the potential for so much more.
“Our aim is to become the destination of choice for consumers researching their purchasing decisions. Nick, Glen and the team are perfectly placed to take the business to the next level.”
© Crimson Business Ltd. 2008