Parabellum Investments Sells BPO Leader Parseq to Paragon Group

LONDON, UNITED KINGDOM — Parabellum Investments has announced the sale of business process outsourcing (BPO) specialist Parseq to global business services provider Paragon Group. Financial terms of the transaction were not disclosed.

Based in Hellaby, South Yorkshire, Parseq delivers outsourced workflow and technical solutions for document management, financial processing, and payment services. Parabellum Investments, the family office of international turnaround investor Rami Cassis, acquired a majority stake in the company in 2007 following its disposal as a corporate carve-out. At the time of acquisition, Parseq operated with a 15-person team.

Under Parabellum’s ownership, Parseq has undergone significant transformation and expansion. Today, the business employs more than 300 people, positioning it among South Yorkshire’s largest employers. Its client portfolio includes major household names such as BT and EE, alongside most of the UK’s leading high street banks, including HSBC.

The sale to Paragon Group provides a strategic platform for continued growth of Parseq’s back-office and payments operations, which have expanded from £11 million to £25 million in revenue over the past three years. Previously, in 2018, Parabellum completed the sale of Parseq’s contact centre division after growing the combined business to approximately £65 million in turnover during the late 2010s.

Led by CEO Craig Naylor-Smith, with Rami Cassis serving as Chairman, Parseq has achieved a number of significant milestones over the past two decades. These include the establishment of five global offices across the UK, Bulgaria, and India; serving as the primary data services provider for the 2021 UK Census; and becoming the UK’s largest BACS and cheque payments processor.

The company now processes more than £36 billion in payments annually and digitises approximately 70 million documents each year for over 75 international clients. Parseq has also received multiple industry accolades, including Company to Watch for Excellence at the 2020 GSA Professional Awards, Employer of the Year at the 2022 GSA Professional Awards, and the 2022 Editor’s Choice Award at the Document Manager Awards.

Operating in 26 countries worldwide, Paragon Group is a leading global business services provider specialising in brand and outsourced services. The acquisition strengthens Paragon’s multi-channel service capabilities while providing Parseq with access to expanded international infrastructure and expertise.

Craig Naylor-Smith, CEO of Parseq, commented: “Joining Paragon is a significant milestone that directly benefits our clients. By combining our strengths, we’re able to scale our back-office and payment solutions onto a global stage. This isn’t just about growth; it’s about giving our clients the international reach they need without ever compromising on the rigorous security and service standards they’ve come to expect from Parseq.”

He added, “The business has grown significantly under Parabellum’s stewardship, and we could not have done it without Rami and the team.”

Rami Cassis, principal of Parabellum Investments, said: “Comparing the Parseq of today to the business we acquired in 2007, it is just remarkable to see how the company has transformed – and it has been a real privilege to be a part of its journey.

“Having seen Parseq’s growth from the very beginning, it is a bittersweet goodbye. However, it is made easier knowing that there couldn’t be a better home for Parseq’s team and clients alike than Paragon. Paragon’s multi-channel offering and global reach are truly impressive, and I wish all parties the very best in this new partnership.”

Parabellum Investments continues to deploy its own capital to acquire and scale majority stakes in mid-market companies across enterprise software, business and IT services, life sciences, and fintech sectors worldwide.

For more information, visit ramicassis.com and parabelluminvestments.com.