Family office Parabellum Investments has sold business process outsourcing (BPO) business Parseq to business services provider Paragon Group. Terms of the deal were not disclosed.
Parseq provides outsourced workflow and technical solutions for document, financial, and payment processing organisations. Parabellum Investments, the family office of 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 firm is now one of South Yorkshire’s largest employers, with over 300 employees. Its client list currently includes BT, EE, and HSBC. Parseq’s back-office and payments operations business has grown from £11m to £25m in revenue over the last three years. Prior to the Paragon deal, Cassis and Parabellum Investments sold Parseq’s contact centre arm in 2018, having overseen the growth of the combined business to £65m in turnover in the late 2010s.
