IVE to sell tele-fundraising business
IVE Group is selling its tele-fundraising business, formerly Pareto Phone, for $16.5m to Merchant Place Investments, with completion due to take place next Friday 30 October.
IVE said IVE Telefundraising is the largest business of its kind and specialises in comprehensive outbound tele-marketing campaigns mostly for the not-for-profit sector. IVE said it conducts more than 1 million calls per year.
After the sale is completed, the business will revert to being called Pareto Phone and will operate as a standalone business based in Fortitude Valley, Queensland.
IVE Telefundraising CEO Keith Elliot said the business had gone from strength to strength under IVE’s ownership over the past five years as it grew market share and refined and innovated its data-driven offer to Australian charities.
“We have also played an active role in the sector through our involvement with the Fundraising Institute of Australia and the many other industry groups,” Elliot said.
“My team and I are very much looking forward to working with Merchant Place to continue to drive growth and expand from what is today a very solid business with a leading market position.
Merchant Place investments managing director Tom Mould said his company and its partners are long-term equity investors and share a keen personal interest in the charitable sector.
“We are delighted to acquire a market-leading business that provides an important and recurring service to its not-for profit clients,” he said.