Parabellum partially exits Parseq to Kura Group

Parseq's finance and administration division, which is its core business, will continue to operate independently from its existing site at Hellaby, Yorkshire.

The sale follows a successful turnaround of the company led by its executive chairman and CEO Rami Cassis, who is also a managing partner at Parabellum. Under his management, Parseq grew from a loss-making business to a profitable company, which generated revenues of £44m and £3m in profit in 2017, and has a growing order book of blue-chip clients, according to a statement.

Company
Parseq was established in 2010 following the merger of outsourcing specialist Documetric and business software company Intelligent Environments Group. Rami Cassis, who founded Documetric in 2007, acquired AIM-listed Intelligent Environments Group in a reverse takeover and merged the two businesses. The company was subsequently taken private in 2012.

Parseq provides customer contact and acquisition services, mail fulfilment, document management, enquiry handling, accounting and data hosting to help organisations acquire new customers, retain market share, reduce costs and improve operational efficiency. The company's client base includes UK-based banks, utility providers, local authorities, and insurance and telecoms companies. Parseq employs 1,700 people and generated £3m in profit from revenues of £44m in 2017.

People
Parabellum Capital – Rami Cassis (managing partner).

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• Topics
• Exits
• UK / Ireland
• Support services
• Technology
• United Kingdom
• Trade sale