Experian acquires LM Group
26th July 2011 - Experian, the global information services company, announced today that it has acquired LM Group Ltd (“LM Group”), a leading provider of credit information to small to medium enterprises (SME) in the UK.
Founded in 1994, LM Group, which trades as Riskdisk Ltd, provides commercial credit reports and commercial risk information to approximately 18,000 SME businesses in the UK. Riskdisk is an existing partner of Experian and integrates Experian’s commercial credit data into its SME product set. Based in Ollerton, Nottinghamshire, the company employs 110 people.
One of Experian’s global objectives is to establish successful businesses in new customer segments, one of which is the SME sector. The number of SMEs using credit information in the UK is growing rapidly, and the acquisition of Riskdisk will expand Experian’s presence in this market, while extending the company’s SME product suite and increasing its speed to market by adding new sales channels.
Simon Streat, Managing Director - SME, Experian UK&I, said: “Credit information plays a vital role in helping businesses to make smarter decisions when it comes to understanding the level of risk associated with potential new customers or suppliers. Our acquisition of Riskdisk will accelerate the range of services we offer to SMEs, while enabling Riskdisk’s thousands of customers to access Experian’s comprehensive product portfolio.”
Phil McLaughlin, Commercial Director, Riskdisk, said: “We are excited at the prospect of being part of Experian and benefiting from the company’s global scale and resources. The two companies share a strong strategic fit and we look forward to working together to drive even greater product innovation for the UK’s SME population.”
LM Group will trade as Riskdisk, an Experian company and will continue to be led by its existing management team, reporting to Simon Streat, Managing Director, SME, Experian UK&I.
In the year to 31 October 2010, revenue for LM Group was £7m (c. US$11m). Gross assets as at 31 October 2010 were £4m (c. US$7m). LM Group was acquired from its founding shareholders and senior employees, and will form part of Experian’s Credit Services business information activities. The acquisition has been funded from Experian’s existing cash resources.
Nishma Shah, PR Manager, Experian – 020 3042 4313 / Nishma.email@example.com
Serj Heera, PR Manager, Experian – 0115 992 2773 / firstname.lastname@example.org
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.