UK digital marketing firm The Croud Group is working with the investment bank GP Bullhound to search for a new private-equity investor, according to multiple sources familiar with the matter.

“Croud have flourished by sticking to the knitting of performance media,” said Greg Paull, principal at marketing consultancy R3. “That dedicated specialization is not something really found at the holding companies and it’s allowed them to penetrate clients frustrated by that.”

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