Case study: MORI

Customer knowledge and market understanding



Market & Opinion Research International (‘MORI’) was founded in 1969 by Sir Robert Worcester and, today, is the UK’s largest independent research organisation.

It is in the top 20 research agencies worldwide and was the fastest growing major agency in 2004. It provides a full range of quantitative and qualitative research services, working with hundreds of clients in both the public and private sectors.

MORI embraces both traditional and technologically advanced research methods. Based in London, with partners around the world, MORI adds value to research with interpretation, recommendations, and advice. Experienced staff also offer clients a perspective from national and global socio-cultural trends. MORI holds an important position within the British media, regularly providing senior staff as commentators across a broad range of topics.

3i originally invested in MORI in 1986, investing ?3.2m* in the company in return for a 25% stake. In 2000, 3i backed Executive Chairman, Sir Robert Worcester, and CEO, Brian Gosschalk, in a MBO of the company, further increasing its stake in the business.



The MBO enabled 3i to help structure a formal board for the company, appointing several non-executive directors. 3i also helped the company strengthen its management team in order to further realise the potential of the company both in the UK market and internationally.

Through the combination of an enhanced management team, a formal board structure, and the growing markets in which the business operates, 3i has helped MORI to unlock its true brand potential. Since the buyout, MORI has grown both turnover and profit faster than any other major research organisation in the UK.

Worcester says: “3i backed MORI early in the game and stuck with us for nearly 20 years, which is a remarkable time for any venture capital company. Their commitment to their investees is well-known and much appreciated by company founders and their successors.” In 2004, after almost 20 years as MORI’s principal equity partner, 3i released its stake in the business to ISIS Equity Partners, in a deal valued at €82m, delivering 3i a profit of €15m.

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