I suggest a comprehensive Google search on PC if you have hours to spend

I came up with
"Cullum says that deals are in the pipeline for 2008, but he will be taking time to ensure he beds in the opportunities created by the companies already acquired, such as insurance software house OpenGI, which is the company?s biggest purchase to date at ?275 million. ?It?s all very well spending hundreds of millions on deals but you?ve actually got to make them work.?

When on the lookout for a takeover, Cullum says, Towergate, which he expects to generate turnover of over ?3 billion by the end of the year, wants the acquired business to provide a return on investment of at least 20 to 30 per cent.

With Towergate?s dedicated M&A team, the company can be seen as a private equity institution in its own right. ?We live with rejections. We pick up the phone and talk to a lot of people and they tell us politely they are not for sale. But it is a rapidly changing landscape in our sector and there are smaller players looking for an exit.?
He observes that, when scouting for prospects, a degree of subtlety is required. ?These deals take us quite a long time. It isn?t just a phone call and then we strike a deal, it?s about courtship,? he says.

Didn't have the requisite time to follow this through!

Posted By: thirdager on July 6th 2008 at 12:43:33

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