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Buyer Ambitious for Eastern Research
Ethnic investment specialist Hispania Capital Partners has acquired a controlling interest in US telephone fieldwork company Eastern Research Services, Inc, for an undisclosed sum. Hispania says Eastern provides a platform for development and its aims include the development of a major full service offering, among others.
Springfield, Pa.-based Eastern was founded in 1992 by three MR professionals, Mike Marcus, Nick Mannino, and Kean Spencer, all of whom remain active full-time in the business and maintain their roles after the acquisition. It has three telephone interviewing facilities - call centers are also located in Florida and Texas - and in 2003 completed over 850 projects involving more than half a million telephone interviews.
At present the company concentrates exclusively on telephone data collection, but one of Hispania's aims is to develop a full service research capability for both Eastern and its affiliate company Bilingual Research Services. The two will develop 'premium research services... in both the general and Hispanic markets'.
Hispania, a Chicago based private equity fund, says its investment will also 'enable the company to expand its bilingual language-of-choice services, enhance its call center operations, as well as solidify its working capital structure'.
Hispania Partner Victor Maruri says that Eastern's operating infrastructure 'provides management with an ideal platform to further develop their research products targeted to the Hispanic market'. His fellow Partner Carlos Signoret believes that 'Hispania's capital and sector knowledge will help the company to significantly improve this service and capitalize from strong demographic backwind'.
According to Eastern's Kean Spencer, who remains President, 'The rapidly growing Hispanic population has captured the attention of every sector of the business community. Market research among the Latino population is vital for positioning of products and services. This has created an unprecedented demand for the bilingual language of choice services provided by our company. Hispania Capital Partners will provide us with the knowledge necessary to maximize our penetration of this marketplace'.
Web sites for these companies are at www.easternresearch.com , www.bilingual-research.com and www.hispaniapartners.com .
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