MVL loans $27m to part fund MRSI acquisition
MVL Group – owner of US data collection firms including QuickTest and the full service agency Target Research Group – has acquired Marketing Research Services, Inc (MRSI), an Ohio-based custom MR agency.
Terms of the deal were not disclosed, however MVL's majority shareholder, the investment firm Allied Capital revealed yesterday it had loaned the company $27.4m to help finance a “portion” of the acquisition.
The MRSI purchase is part of MVL's growth and acquisition strategy, designed to turn the group into what Allied Capital managing director, John Shulman called a “fully-integrated marketing services firm”.
MVL bought-out MRSI's owner and president Randy Thaman to take full control of the business. Thaman – who joined the company in 1984, buying it himself just five years later – will stay on as president.
An MRSI spokeswoman told Research there would be no redundancies among the agency's 280 US staff following the takeover. “We will remain operating as we did before,” she said.