The purchase follows the news that Zibrant’s parent company, Motivcom plc, has received an offer by Sodexo to acquire its incentive and loyalty brands. Cooper’s 100% purchase of Zibrant’s share capital is expected to conclude in mid-November. Zibrant will be sold to Zebra 1234 Ltd, a company owned by Cooper.
Zibrant has recently undergone a period of significant investment in its overall IT infrastructure and has streamlined its business to reflect clear product offerings, from procurement and compliance of policies to the creative live event sector.
The offices and personnel in Derby, Milton Keynes, Faversham and Godalming will all remain unaffected by the MBO.
Cooper said: "We have a great opportunity and I am thrilled at the prospect of what we can achieve. The recent investment and developments have already resulted in a leaner, fitter, more dynamic and more focussed business with strong levels of new business wins. We will continue to develop and invest in our products and service infrastructure and further develop our presence in the meetings and events sector."
Motivcom aquired Zibrant in July 2013 for an initial consideration of £15m subject to shareholder approval, when Cooper, former divisional managing director at the business, was appointed chairman of Zibrant.
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