Fast-growing UK provider The Oxford Research Agency (TORA) has been bought by two of its directors, Andrew Tharme and Chris Sinclair, with the aid of venture capital. Former TRBi CEO Laurence Curtis also joins, as Chairman, with immediate effect.
Tharme and Sinclair become Joint MDs. TORA will retain its senior management team including previous owners Kim Paxton, Karen Nunwick and Dave Kemp, and will look to grow its headcount rapidly (see links below this article).
Curtis says the existing business plus the investment - from Next Wave Ventures & Clydesdale Bank - mean the agency 'has a very bright future ahead of it'. He comments: I'm delighted to be involved at the start of the next phase of growth of the agency. It has some of the best clients in the business and is led by a young and innovative management team with a proven track record.'
In a statement, Tharme and Sinclair say: 'We are excited and thrilled with this opportunity to grow and enhance the business, and continue to provide our clients with ground-breaking research.' The investment will be used to grow the current staff of 50, develop new techniques and support TORA's rapidly growing volumetric approach.
The independent firm has grown at around 15% a year and in 2007 conducted over £6m worth of research, including ad hoc and tracking work and covering FMCG, transport, education, local government and retail research.
Web site: www.tora.co.uk .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.