Of particular interest to lis-pub-libs - though perhaps not what you
want to read on a Monday morning!
------- Forwarded message follows -------
Date sent: Fri, 28 Jul 2000 18:04:39 -0000
Subject: INSTANT LIBRARY JOINS THE TRIBAL GROUP
From: "Gary Owen" <[log in to unmask]>
To: <[log in to unmask]>, <[log in to unmask]>,
<[log in to unmask]>, <[log in to unmask]>,
<[log in to unmask]>, <[log in to unmask]>,
<[log in to unmask]>, <[log in to unmask]>,
<[log in to unmask]>,
<[log in to unmask]>, <[log in to unmask]>,
<[log in to unmask]>
Send reply to: "Gary Owen" <[log in to unmask]>
Apologies for cross posting
INSTANT LIBRARY JOINS THE TRIBAL GROUP
KEY POINTS
a.. Instant Library Limited, the UK's leading provider of outsourced library management services has today been acquired by the Tribal Group, the public sector outsourcing company,.
b.. Tribal's business strategy is to develop a group of specialist businesses that provide services to the local government and education sectors. This is being achieved through an aggressive acquisition strategy. The Group is looking to spend up to a further £20 million on acquisitions,
acquiring high growth companies, incentivising management through share ownership.
c.. This acquisition provides Tribal with a strategic position in the library management market place. The equity financing was led by the Gresham Trust, and Mike Henebery of Gresham will become a
non executive director of Tribal Group.
d.. Tribal expects to announce further acquisitions in August. The company is expected to list on
the AIM market in early 2001. Sponsors will be announced in the autumn.
e.. Instant Library offers a diverse range of specialist information management services includin
g; the provision of outsourced libraries and all activities involved with the operation of library
services, library design and set up, the procurement of books and journals, cataloguing and classif
ication, and information brokerage.
f.. In addition, the company provides specialist services in records and data management, operati
ng on-site teams of staff who store and retrieve company documentation and also undertakes scanning
and digitisation to move paper into an electronic format.
g.. Instant Library has extended its portfolio to include the development of virtual library serv
ices for clients who have no on-site facilities but need rapid access to information.
h.. Tribal intends to expand Instant Library's business in the local authority, education and hea
lth sectors. Public sector library provision is a £1.3bn industry and Tribal hopes to strike strate
gic alliances with local authorities to pioneer improved library provision.
i.. Instant Library will also develop its business to assist local authorities with Best Value re
views of their library provision, records management and file tracking services.
Diana Edmonds, Managing Director of Instant Library Limited, commented:
I am delighted to announce that Instant Library is to become part of the Tribal Group. Tribal is a
young and enthusiastic company - and shares the values and ethos which have contributed to Instant
Library's success. We are committed to providing effective information services and solutions for o
ur clients - and to maintaining the positive team approach within the organisation. On a personal n
ote, I am looking forward to working as Instant Library's Managing Director within the larger Triba
l framework. The future looks very exciting from here!
Henry Pitman, Chief Executive of Tribal, commented:
"This is the next exciting step in Tribal's development. Over the next few months we will announce
further acquisitions which will position us strategically for our IPO"
"We are going to develop Instant Library's business in the education, local authority and health se
ctors. There are great opportunities to work in strategic partnerships with the public sector, to p
ioneer new and improved library provision."
Mike Henebery, of Gresham Trust commented:
"Fast growth in the local government and education outsourcing market is certain now that the gover
nment has made education its key priority. The outsourced education market is now worth £1.5b a yea
r and the overall outsourcing market is put at £10bn a year.
"Tribal Group is seizing an excellent commercial opportunity to grow in this relatively immature ma
rket. Gresham supports Tribal's strategy of development by acquisition."
If you have any further enquiries:
Instant Library
Diana Edmonds, Managing Director
Tel: 01509 268292
Tribal Group
Henry Pitman, Chief Executive
Tel: 01386 702900
Gresham Trust
Mike Henebery
Tel: 020 7309 5000
------- End of forwarded message -------
Helen Price Saunders
Cardiff University Information Services/
Gwasanaethau Gwybodaeth Prifysgol Caerdydd
Tel. 029 20 875680
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
