Paragon acquires leader in direct marketing and regulatory communications
Paragon Group is delighted to announce the acquisition of DST’s UK Customer Communications business (DST CC), the UK leader in transactional, regulatory and direct marketing communication.
Paragon UK’s Document and Marketing Services operations in Sunderland and Rotherham will be combined with the DST CC business to create Paragon Customer Communications. It will provide an enhanced service to clients of both businesses including some of the UK’s best known brands, more than 30% of FTSE 100 companies, financial services firms and government
Paragon Customer Communications will have annual revenue of more than £200m in the UK and 1,800 employees across 10 sites. Including operations in other divisions, the deal lifts Paragon’s total turnover in the UK to more than £250m and in excess of €600m globally.
The acquisition propels Paragon into a leading position within its sector. The two businesses are highly complementary and together their scale, increased range of quality solutions and excellence in customer service will ensure they compete at the highest level in the Customer Communication Service Provider market.
The combination creates advantages to clients of both DST CC and Paragon who will be able to access a wider range of complementary services and solutions from a single supplier. As there is no significant overlap between the two companies, it will be very much “business as usual” with clients being serviced by their existing teams from existing sites.
Paragon is excited by the acquisition which brings new transactional, regulatory, direct marketing and digital expertise to the Group. DST CC’s existing customers will have access to new solutions including full outsourcing of internal customer-facing processes, as well as exciting technologies based on Paragon’s expertise in the contactless (RFID) field. DST clients also have immediate access to Paragon’s international network, including production right across Europe, and international sales and production in the USA and Australia.
The employees of both companies will stay with the business and the existing senior management teams will continue to run the operations under the leadership of Jeremy Walters, formally CEO of DST CC who becomes CEO of Paragon Customer Communications UK.
Seán Shine, COO of Paragon Group, commented: “We are delighted with the acquisition of DST CC which is perfectly complementary to our existing business. We are purchasing a profitable and well run business and will provide the ongoing investment and support for its continued success”.
Jeremy Walters, CEO of Paragon Customer Communications UK, said: “This is a fantastic opportunity for everyone in the new Paragon Customer Communications business, from all sides. We look forward to working together in the exciting and dynamic Paragon environment. Paragon Group is a strong, ambitious and growing company which is committed to the customer communication sector.”