HMT LLP provided combined buyside lead advisory and financial due diligence services to Mobeus on the £13.4m MBO of Gungho Marketing, a specialist lead generation business focused on the fast growth International RegTech and LegalTech markets.
Founded in 2007, Gungho provides outsourced sales support utilising its proprietary global database, identifying corporate buyers of regulatory, compliance and legal solutions and then setting up qualified sales appointments which deliver high levels of return on investment for its clients.
With bases in Poundbury in Dorset and North Carolina in the USA, Gungho has grown rapidly in recent years, with turnover increasing by over 20% in each year since 2015 as a result of providing a unique service to its clients in these growth markets and high quality sales leads given its deep sector knowledge, specialist staff and database. Gungho’s understanding of the buyer groups in these industries allows its clients to markedly accelerate their own sales growth.
The deal sees incumbent CEO, Tom White, continue to lead the business with the support of his team in the UK and US. Founder Lucy Erskine has reinvested into the business and will remain in a Non-Executive capacity alongside new Executive Chair Jonathan Harman who brings significant experience in direct marketing.
The HMT team provided full buy-side advisory support on the transaction, incorporating financial due diligence, financial modelling, and buy-side lead advisory services. The transaction represents the latest of deals in the marketing agencies sector for HMT.
“We are delighted to have completed Mobeus V’s first investment into Gungho marketing. Our deep understanding of the marketing services industry allowed us to quickly identify the potential of the business and move to secure the opportunity for Mobeus. We are grateful for the buy-side support provided by HMT which resulted in a timely completion.”
– Chris Price, Partner – Mobeus
“We are delighted to have advised Mobeus on their investment in Gungho. The business operates in a fast growing sector that has observed strong consolidation in the past few months, and with Mobeus’ support Gungho will be able to reach their ambitious growth plans. We look forward to working with Mobeus and Gungho again in the future.”
– Paul Read
