Major London operator buys business services firm out of administration
Smethwick- and Telford-based OfficeTeam has been bought by Paragon Group, after its parent company Spicers Office Team (SPOT) went into administration.
SPOT appointed administrators last month, when its private equity owner Better Capital announced it was looking to find a buyer for the business.
Paragon, a provider of customer communications, identification, graphics and business services, announced the deal, alongside the acquisition of Oldham-based ZenOffice.
OfficeTeam is a leading provider of business services and workplace solutions with a customer base of blue chip companies. London-based Paragon said the purchase of the businesses will further strengthen its business services capabilities.
Paragon Group chief executive Sean Shine said: “We are delighted to welcome OfficeTeam and ZenOffice to the Paragon Group, adding their expertise to our growing range of workplace solutions and business services.
“Paragon continues to assess markets to ensure we align our service offering with our customer demands and this acquisition addresses existing customer requirements.
“Operationally and financially, Paragon is a strong, disciplined and ambitious company and prides itself on being customer-focused. Together, we deliver the future of workplace solutions and business services.
“The acquisitions underline Paragon Group’s ongoing commitment to being the market-leading service provider for businesses in the UK.”