Wednesday, February 15, 2012

News: Parseq amongst UK's best


Parseq, the technology led Business Process Outsource (BPO) provider with a significant facility in Rotherham, has been named amongst the UK's best equity-backed companies.

The Buyout Track 100 is sponsored by Deloitte, Lloyds Bank Wholesale Banking & Markets and Skillcapital. It is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.

It ranks investor-backed firms with the fastest-growing profits. Companies are ranked according to the compound annual growth in their profits over two years, based on their latest available figures (either 2008 to 2010, or 2009 to 2011).

Parseq, which specialises in mobile and online banking software and technology-led outsourcing services, was created in a successful reverse takeover by Rami Cassis and Rotherham-based BPO provider, Documetric in 2010.

The company underwent a successful £33m management buy out concluded earlier this year led by Rami Cassis, together with Nova Capital and funds managed by HarbourVest Partners, LLC.

Parseq is ranked 15th in the top 100 list, posting an impressive annual profit growth of 77.62% from £1.3m in 2008 to £4.2m in 2010.

Mark Pacitti, head of London corporate finance advisory at Deloitte, title sponsor of the league table, said: "Despite the many challenges facing the UK economy, it is very pleasing to see so many successful private-equity-backed businesses.

"It is clear that strong management teams supported by private equity investors can deliver above average performance which in turn makes them attractive M&A candidates."

With their processing facility at Hellaby, Parseq are the preferred supplier of BACS electronic fund transfers, remittance processing and voucher processing services to a number of high street banks.

More than 100,000 payment transactions are processed daily, with an annual transaction value in the region of £25 billion.

Rotherham manufacturer, AESSEAL was ranked 94th in the The Buyout Track 100.

Parseq website


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