The acquisition, which was completed on 30 December, will see the group transfer across to Parseq in its entirety, including Tall Security Print, Checkprint, and DLRT, which combine to form the Tall Group of Companies.
The group 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, which includes major telecoms operators, utility providers, and FTSE 100 financial services companies.
Parseq is a portfolio company of Parabellum Investments, a family office operating as a global private equity firm.
All of the Tall Group’s 100 staff will be retained, boosting Parseq’s headcount to more than 520 employees based in 12 offices across the UK, Bulgaria, and India.
The Tall Group’s secure document and payment processing offerings will be incorporated into Parseq’s own established systems, enabling clients to benefit from the operational synergies and economies of scale offered by the integration.
Martin Ruda, managing director of the Tall Group, will work with Parseq CEO Craig Naylor-Smith to help set a strategy for the combined business.
Naylor-Smith 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.”
Ruda added: “We have worked in partnership with Parseq many times, and offer complimentary, 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 told Printweek that Tall Security Print, Checkprint, and DLRT will come together under the Parseq brand, “helping the business to grow together as a single organisation with one set of shared ambitions”. Exact timings for this change will be confirmed “in due course”.
The financial details of the transaction were undisclosed.
Commenting on the deal, Paul Holohan, chief executive of print industry M&A specialist Richmond Capital Partners, said: “Mergers and acquisition activity is buoyant at the moment as companies continue to assess their operational strategies following two to three years of dramatic change. Not just in the print and packaging sectors, but across all industries – and globally.
“Having worked over the years alongside several of those involved at Tall Group, I have no doubt the new co-ordinated team will continue to drive the business forward to new heights, built on their excellent record of success to date, especially notable for their significant export achievements, which I’m sure will continue with Parseq.
“I have great respect for Martin and his colleagues, and the combined forces have created an excellent merging of interests. There is an exciting future for the new company as it combines two strong businesses in the good hands of Parseq. It is particularly pleasing that the company considers it important to retain all jobs – a big factor in this changing world. My best wishes to all.”
