ICON have secured funding for the MBO of Respond Group, the UK’s leading provider of customer complaints and feedback applications. Respond has made enterprise-wide sales to an extensive blue-chip client base, including Barclays and AXA, who typically benefit from multi-million pound operational savings and a direct increase in customer satisfaction.
Gartner has identified Respond as an emerging player in the global Customer Experience Management (CEM) segment worth over $1.8billion in 2004 and the company is well positioned to leverage regulatory initiatives in the financial and government markets. The deal was financed by debt finance from Bank of Ireland.
“This was a particularly complicated transaction where strategy and timing were critical to the buy out negotiations and ICON’s strong expertise of how to deal with VCs ensured that we as a management team got the best deal. As a result the funding raised enabled us to acquire a significant share of the business and gave us an excellent platform upon which to continue to grow the business”
James Heavey, CEO, Respond Group