Private equity deal brings communications firm into Irish ownership
A communication management firm with offices in Leicester, Huddersfield, and Glasgow has been acquired by an Irish customer communications provider to boost its presence in the UK market.
Irish tech company Mail Metrics has acquired Adare SEC in a private equity-backed deal.
The acquisition is supported by MML Growth Capital Partners Ireland, which has taken a minority stake, along with funding from the Bank of Ireland and AIB.
The buyout is expected to see Mail Metrics’ workforce grow from 150 to 600 employees, and its projected revenue is set to rise to £175m.
Both companies specialise in providing customer communication solutions for regulated sectors, including financial services and the public sector.
The shareholders of Adare SEC were advised by the EY Birmingham M&A team, including Jeremy Harrison, Ritu Joshi and Laura Taylor, alongside Nicole Livesey, Sophie Thornton and Jai Pannum from Pinsent Masons.
Jeremy Harrison, EY M&A Partner said: “It was a pleasure acting for the shareholders and management of Adare SEC on this sale. Adare is a highly respected and trusted brand in critical customer communications and the combination with Mail Metrics software-led solutions should enable both to prosper greatly in the future.”
Nick Keegan, group CEO of UK & Ireland, Mail Metrics, said: “This is a landmark day for Mail Metrics as we welcome Adare SEC into our group. Tony Strong and his team have built an exceptional business with a stellar reputation in the market. This acquisition is a natural step in our scaling journey, combining our strengths to deliver innovative and compliant communication solutions for our growing client base across the UK and Ireland.
“I would like to extend my gratitude to our financial backers who have made this deal possible. MML Ireland, our new private equity partner, and our banking partners at Bank of Ireland and AIB have provided invaluable support throughout the process. Their collective confidence in our vision and commitment to this acquisition has been instrumental in bringing us to this successful outcome. Additionally, I would like to thank Clearwater, our corporate finance advisors, for their advice, and unwavering support throughout the entire process.”
Tony Strong, CEO of Adare SEC, said: “This is a fantastic next chapter for the business and I greatly look forward to working with Nick and the team to ensure a seamless transition. These are exciting times, and the future looks extremely bright. I want to echo Nick by also thanking our advisory teams EY and Pinsent Masons who have been invaluable during this process.”
