DatingDirect.com

When DatingDirect.com sought a purchaser, the UK’s leading online dating agency found its perfect match in European sector leader Meetic – achieving a significant double-digit earnings multiple in the process.

DatingDirect.com, founded in 1999, had grown rapidly, attracting more than 4.5 million registered members. The company was ranked among the 2004 Sunday Times/Microsoft Tech Track 100 fastest growing technology companies.

Clearwater, appointed to assess options for DatingDirect.com, concluded that an overseas buyer may add strategic value. Through IMAP, Boulogne-based quoted company Meetic was identified as a potential purchaser. An alliance would unite Europe’s leading online dating service with the number one UK provider – and give Meetic entry to a key target market.

Clearwater forged introductions and acted as matchmaker to the £27 million transaction, which was consummated in January 2007 and subsequently voted M&A deal of the year in the Birmingham Post.

Speaking of Clearwater’s advice, DatingDirect.com CEO Darren Richards said:

“They were unstinting in their support at whatever hour of the day or night, consistently smoothing the way and offering practical solutions which enabled the deal to be completed in record time.”