Paragon Group, a provider of Customer Communications, Identification and Graphics services, has acquired SIMS, the managed services division of St Ives plc. Following this acquisition, Paragon Group revenues will exceed EUR700 million during the next financial year.
SIMS will become part of Paragon Customer Communications’ business in the UK.
With revenue exceeding EUR40 million, SIMS procures a broad range of products and services for blue chip clients to support complete brand engagement programmes. These services will enhance Paragon’s existing supply chain solutions, while SIMS clients will benefit from the data analytics, digital communications and customer engagement capabilities of Paragon Customer Communications.
This latest acquisition is in line with the Group’s strategy to actively integrate complementary businesses in a positive way. Recent acquisitions include DST Solutions in the UK and Docsellent in Germany, increasing Paragon Group’s annual turnover to more than EUR700 million.
John Rogers, VP of Corporate Development at Paragon Group, says: “We are delighted to have concluded this transaction, acquiring a great team, excellent clients, and bespoke technology which perfectly complement our existing business.”
Jeremy Walters, CEO at Paragon Customer Communications UK, says: “Paragon Customer Communications is a strong, ambitious and growing company and together with the newly acquired SIMS team we continue to deliver the future of brilliant customer communications. SIMS has a strong reputation as a provider of value added services and has a unique offering with its proprietary technology DNA, and a talented pool of 30 experienced executives who we warmly welcome to Paragon.”
