Investis bought out by management for over £30m
Investis, the company which creates corporate websites and iPad apps, has been acquired in a £25m management buyout; with Morningstar's investor relations business - formerly known as Hemscott - being bought as well for an estimated £5m.
As part of the deal, which was backed by Gresham Private Equity, will see co-founder Justin Walters step down from the role of chief executive of Investis, although he will remain a shareholder and adviser.
Walters said: "We are already well ahead of the competition in helping public companies make the most of mobile, social and digital communications. I am incredibly proud to have led Investis for the past 12 years. It is a great company, and I am looking forward to supporting and advising the team in the future."
He will be replaced by co-founder Helen James, who said: "Investis is a great company and we have always been the innovator in our market allowing us to deliver the best possible solutions for our clients. The backing of Gresham will allow us to move faster than ever, and I cannot think of a better way to start a new phase of the company’s development than with the acquisition of Morningstar Investor Relations Services.
"We are delighted to welcome the Morningstar IR clients to Investis, and equally excited to be working with a great team of Gresham people who share our vision and culture."
Investis has created investor relations websites and iPad apps for brands such as BP, Tesco, Shell and Marks & Spencer.