A group of senior managers from Experian, backed by private equity firm Sterling Capital Partners, purchased the company's lettershop, printing and packaging unit and will start a new company called MetroGroup Corp., the managers announced yesterday.
The purchase also includes Experian's Cole Services division, which offers a cross-reference directory in print and electronic formats.
Financial details of the transaction were not disclosed.
MetroGroup will take over Experian's print and fulfillment operations in Nebraska, Iowa and Vermont.
Experian retained a financial interest in MetroGroup and will be a MetroGroup client.
The operations acquired by MetroGroup produce an annual volume of 2 billion pieces of mail. The industries they serve include financial services, consumer products, media, fundraising, retail, telecommunications, travel/entertainment, insurance, healthcare and pharmaceuticals.
