Bluebox Corporate Finance is delighted to announce the sale of Charterhouse Research Limited (Charterhouse), one of the leading providers of specialist financial market research and author of the British Banking Survey, to Next 15 Communications Group plc (Next 15).
Launched in 2004, Charterhouse has established itself as the leading specialist market research brand in the financial services sector, achieving consistent growth and increasing profitability. The Company has an enviable blue-chip client base, including all the major UK banks, leading insurers, asset managers, credit card companies and challenger banks, as well as government agencies and regulators. Its flagship Business Banking Survey has been operating continuously since 2010 and comprises interviews with almost 17,000 businesses from start-ups to major corporates, and is regarded by banks as the key monitor of the UK business banking sector. Charterhouse will form part of Next 15’s expanding ‘Data and Insights’ group, MIG Global, significantly enhancing its financial services offering.
Following the transaction, Julie Irwin will continue to run the business as Managing Director, with Mark Dennis and Sara McFadzean continuing in their position as Directors, while Mervyn Flack will be stepping down from his role as Chairman.
Julie Irwin, Co-Founder and Managing Director of Charterhouse Research said:
“Bluebox worked hard to identify prospective partners for Charterhouse and ensured that we showcased our unique position as the leading financial insights consultancy with our highly regarded Business Banking Survey. Once we had chosen Next 15 and their insight arm MIG Global as ideal partners, Bluebox worked tirelessly to maximise the deal value and ensured that the structure rewarded the Charterhouse team for maximising the future growth and profitability of the business.
We have no hesitation in recommending Bluebox to other business owners; we found their understanding of our business, their advice, and their efforts on our behalf, invaluable”
Jonathan Rich, Director at Bluebox added:
“We are delighted to have successfully concluded the sale of Charterhouse Research to Next 15. Not only will they provide Charterhouse with the capital, infrastructure and expertise to further develop its offering, but the transaction also achieved the differing objectives of the shareholders. Next 15 are the perfect partner for Charterhouse and we wish Julie, Mark, Sara and the rest of the team continued success under new ownership.
This deal represents the third successful exit for Bluebox in the last sixty days.”