Stream Global Services has purchased business services firm LBM Direct Marketing for an undisclosed amount.

ISIS Equity Partners is disposing of its interest in the business through the deal, eight years after it first backed LBM, and is netting a 1.9x return on its capital.

Back in October 2004, ISIS invested £11.5 million into the business by way of a management buy-out. The transaction was closed using capital from its ISIS III fund.

The business has since developed from data services and contact sales services to become a provider of digital, data, customer intelligence, technology and multi-channel contact services for business-to-consumer and business-to-business brands. In its current guise, LBM has 2,500 staff across its six UK locations.

LBM CEO Mark Bates says that ISIS has been an ‘excellent backer’ during what has been a ‘challenging period’.

He adds, ‘The company is now very well positioned for future growth in its chosen markets and has every reason to prosper under the new ownership.’

Acquiring company Stream Global Services is a US-based business process outsourcing (BPO) company which was formed 15 years ago as an outgrowth for a software reseller. It provides services to Fortune 1000 companies and has 37,000 staff around the world.

Mark Turner, partner at ISIS Equity Partners and member of the board at LBM during the investment, comments, ‘[LBM has] really achieved great things during a challenging period of growth and development.

‘Ultimately this has been a very rewarding investment for ISIS. LBM has a very bright future as part of stream, who have recognised the potential of the business and we wish them all every success for the future.’

The transaction represents the first of 2013 for ISIS Equity Partners and first since its August backing of Impetus Automotive’s MBO and July investment of £5.2 million into Vietnamese restaurant chain Pho Cafe.