Thu, 23 Aug 2018 | DIVISION SALE
Outsourcing specialist, Parseq has sold its contact centre division to Kura Group, a customer services outsourcer based in Scotland. The sale was led by executive chairman and CEO Rami Cassis and is said to have created “significant value” for shareholders.
Cassis founded Parseq in 2007 following a buyout where he was the managing director and took the company private in 2012 as a significant shareholder by setting up Parabellum Capital, his own private equity fund.
The historic core business of Parseq, its finance and administration division, will continue to operate from its existing site in Rotherham.
Rami Cassis said: "The turnaround and sale of Parseq's contact centre division demonstrates the value of investors who can deliver operational knowledge as well as capital. Too many private equity firms lack meaningful management experience, and as a result are failing to maximise the potential of the businesses in which they invest.
"The last five years have helped to shape and focus my strategy on current investments and future acquisitions. Deep domain expertise remains crucial but so does the company you keep in these ventures. My focus remains the acquisition of mid-market firms and corporate disposals in fintech, business services, oilfield services and defence.
"I now look forward to supporting the leadership team to continue Parseq's stellar growth through its finance and administration division, which has secured nine new client wins this year and has a strong sales pipeline up to 2021, whilst remaining focused on developing Parabellum Capital's investment portfolio."
Based in South Yorkshire, the £44 million-turnover business saw a successful turnaround with the return of Cassis two years ago. Headcount has now risen to about 1,700.
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