Tue, 07 Jan 2025 | BUSINESS SALE
Irish customer communications technology provider Mail Metrics has hailed a ‘landmark’ deal after buying UK peer Adare SEC and securing PE backing.
Dublin-based Mail Metrics’ solution enables large enterprises in highly regulated industries to digitally transform their customer communication and engagement processes while ensuring compliance with increasingly stringent financial and data protection regulations. This, according to Mail Metrics, aligns with Adare SEC’s expertise in delivering integrated physical and digital communication management solutions for clients in similarly regulated markets, including the public sector.
Mail Metrics said the purchase of multi-channel communication management group Adare SEC accelerates its expansion into the UK market.
Mail Metrics has achieved remarkable growth in recent years, with revenue growing from €1 million in 2019 to a projected €210/£175 million in 2024. The acquisition of Adare SEC, which operates from sites in Huddersfield, Leicester, and Glasgow, will increase Mail Metrics’ workforce from 150 to 600 employees. It marks the company’s fourth acquisition in four years with Persona (Ireland) and Forth Communications (UK) in 2021, and Dafil (Ireland) in 2023.
As part of the deal, MML Growth Capital Partners Ireland has invested a substantial amount in Mail Metrics for a minority stake. The deal is also backed by Bank of Ireland and AIB.
Nick Keegan, Group CEO 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.”
Chris Walsh, Investment Director at MML Ireland, added: “ Mail Metrics has built a brilliant, customer-focused business underpinned by its own technology. The deal brings together two of the leading providers of critical customer communications in the UK and Ireland.”
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