Parseq, the Yorkshire-based business services and IT provider, has announced the acquisition of the TALL Group, which provides secure print and payment services, as part of its expansion strategy.

The acquisition establishes Parseq as one of the largest independent providers of specialist document and payment processing services in the UK.

It increases its headcount to more than 520 staff, based in 12 offices across the UK, Bulgaria and India. The TALL Group’s secure document and payment processing services will be incorporated into Parseq’s systems.

In a statement, Parseq, which has its head office in Hellaby, South Yorkshire, said: “The TALL Group will be transferring across to Parseq in its entirety, including TALL Security Print, Checkprint and DLRT which combine to form the TALL group of companies.

Yorkshire headquartered Parseq has acquired the TALL Group

"It operates from three sites in Runcorn, Hinckley and Lisburn, Northern Ireland, and counts major UK banks and blue-chip companies among its clients.

"These will be incorporated into Parseq’s existing global client base including leading telecoms operators, major utility providers and FTSE 100 financial services companies.”

The TALL Group’s managing director, Martin Ruda, will work with Parseq’s CEO, Craig Naylor-Smith to set a strategy for the combined business.

The statement added: “Parseq is a portfolio company of Parabellum Investments, a family office operating as a global private equity firm. Led by founder and CEO Rami Cassis, Parabellum Investments uses its own capital to grow companies both organically and through acquisition, leveraging its principal’s management experience and pan-sector track record.”

Craig Naylor-Smith, the CEO of Parseq, said: “This is an important milestone for our business. Bringing the TALL Group into the fold will give us the offering we need to continue our international expansion and deepen the existing relationships we have with some of the biggest businesses in the UK.

"The acquisition of the TALL Group, together with other exciting opportunities in the pipeline, means we are entering 2023 on a very firm footing for further growth.”

Martin Ruda, managing director, the TALL Group, added: “We have worked in partnership with Parseq many times, and offer technology-led services, which makes us joining forces a natural evolution of our relationship that will make it easier to accelerate growth and expand the services we offer as a part of a bigger organisation.

"We also share the same vision and values and are committed to helping our clients run more efficient, secure businesses, all to the ultimate benefit of their customers.”

The TALL Group directors William Lamb and Peter Andrew are retiring after more than 30 years with the business. Parseq offers a broad range of technology-driven services that use automation to help clients optimise their document, financial and payments processing and improve their operational efficiency. It automates 94m images, digitises 70m documents and processes £36bn of payments annually.

Parseq announces expansion following acquisition of the TALL Group