"Parabellum Investments, the family office of turnaround investor Rami Cassis, acquired its majority stake in the business in 2007 after it was sold as a corporate disposal, at which point it had a 15-person team. The deal with Paragon provides a natural home for Parseq's back-office and payments operations business, which has grown from £11mn to £25mn in revenue over the last three years."
"Over the last two decades, the business's key milestones have included: Opening five offices globally, with footprints in Bulgaria and India, alongside its UK locations. Growing to become the largest BACS and cheque payments processor in the UK. Processing over £36bn in payments and digitising 70mn documents annually for over 75 international clients."
Parabellum Investments has sold BPO specialist Parseq to global business services provider Paragon Group. Parseq is based in Hellaby, South Yorkshire, and provides outsourced workflow and technical solutions for document, financial, and payment processing organisations. Parabellum acquired a majority stake in 2007 when the business had 15 employees and later sold its contact centre arm in 2018. Parseq's back-office and payments operations grew from £11mn to £25mn revenue over three years, and the combined business reached £65mn turnover in the late 2010s. Parseq employs over 300 staff, serves clients including BT, EE and major UK banks, processes over £36bn in payments and digitises 70mn documents annually. Paragon operates across 26 countries and specialises in brand and outsourced services.
Read at London Business News | Londonlovesbusiness.com
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