SEP leads the way in e-mail firm buyout

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Venture capital firm Scottish Equity Partners (SEP) has led a £10.5 million buyout of digital marketing group Pure360.

SEP is investing £6.5m, with the balance coming from asset manager Investec and the company’s management.

The figure includes investment to fund growth and create 65 jobs at Brighton-based Pure360, which works on e-mail and SMS marketing campaigns for international clients.

It is the latest in a number of SEP digital media investments.

Gordon Beveridge, who secured the deal for SEP, said: “The company is already a major player in the UK e-mail service provider market and we believe this funding, coupled with our investment experience in digital media, will help Pure360 go from strength to strength.”

The UK market for e-mail marketing platforms and services such as those carried out by Pure360 is estimated to be worth £513m this year.

Pure360 has doubled its headcount since 2008, to around 100. Turnover has also doubled, and is expected to do so again in the next three years, to more than £14m.