UK private equity house Maven Capital Partners (Maven), has made a profitable exit from Prime Document Limited (Prime) following the sale of the business to Belgium-based Unifiedpost Group SA, generating a 2.6x return.
Maven’s Investor Partner network originally backed the management buy-in (MBI) of Prime, a financial document management services provider, in May 2016. Prime specialises in the production and distribution of business-critical documents, such as invoices, pay slips, pension and tax statements, which are required to comply with industry regulations or legislative requirements. Customers include a wide range of large and mid-market companies, local government bodies and NGOs, operating in sectors where the accuracy and reliability of document production is paramount as they work with increasingly large and complex data sets.
The strategic acquisition of Prime will allow Unifiedpost Group to enter the UK market and offer end-to-end services to Prime’s customers.
Ryan Bevington, Investment Director at Maven, says: “The sale of Prime Document achieves an excellent return for our Investor Partners network, which funded the original MBI, and is testament to the ability and hard work of the team at Prime to build a successful and attractive business. Maven has a proven record of supporting entrepreneurial businesses to help them achieve their growth aspirations. We are proud of how we have enabled Prime to grow its current footprint in the outsourced EDM sector and further develop its digital document management platform, Ecco, and we wish the team every success going forward as part of Unifiedpost Group.”
Martin Hurley, Managing Director at Prime Document, adds: “Ryan and the Maven team have been a very supportive partner and played an important role in helping transform the business. Prime is now in a position where it will benefit from being part of a larger group, and the foundations put in place with Maven’s help have enabled our management team to consistently grow and attract the interest of a successful global business. We look forward to growing the business further as part of Unifiedpost Group.”
