ClientLogic has sold its list management and brokerage, compilation and insert media business to Lon Mandel, who’s been CEO of the unit for 20 years. The deal closed Nov. 30. The terms and financial arrangments were not revealed.
Mandel sold his minority stockholder interest in the business to ClientLogic in 1999.
ClientLogic and the new firm, Specialists Marketing Services Inc., plan to maintain a close working relationship, which includes cross promoting each other’s services to existing and prospective clients.
Although potential buyers expressed interest in the past, none presented the “synergistic opportunities” Mandel provided, according to ClientLogic spokespersons.
Specialists Marketing Services will make corporate acquisitions and open new divisions within the next 18 months, while expanding its data service offerings in the e-mail and business-to-business sectors, Mandel said in an interview.
“We’ll be in the news with new hires and expanded product offerings to take the business to another level,” he added.
As for acquisitions, Mandel said discussions already are under way.
Although some new products and services are expected to be developed in house, Specialists Marketing plans to buy other firms as a means to offer clients more non-traditional DM services.
Mandel’s buyout of the list business from ClientLogic, follows the recent acquisition of Millard Group Inc. by infoUSA, which is looking to acquire more list companies.
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