Announced today (6 January), Dublin-based Mail Metrics said the strategic move accelerates its expansion into the UK market “while solidifying its reputation as a trusted provider of digital and printed communication solutions”.

Mail Metrics has grown its revenue from €1m (£829,000) in 2019 to a projected €210m proforma in 2024.

Its acquisition of Adare SEC, which operates from sites in Huddersfield, Leicester, and Glasgow, increases Mail Metrics’ workforce from 150 to 600 staff.

It marks the company’s fourth deal in four years following its acquisitions of Persona in Ireland and Scottish business Forth Communications in 2021, and Dafil in 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.

Mail Metrics said it helps large organisations in highly regulated industries to digitally transform their customer communication and engagement processes “while ensuring compliance with increasingly stringent financial and data protection regulations”.

It said this aligns with Adare SEC’s expertise in delivering integrated physical and digital communication management for clients in similarly regulated markets, including the public sector.

Nick Keegan, group CEO UK & Ireland at 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.”

Chris Walsh, investment director at MML Ireland, added: “MML is delighted to back Nick and his team in this landmark acquisition. 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 and we look forward to working with the combined Mail Metrics and Adare SEC team to bring out the best of both businesses and to support them on their continued growth journey.”

Tony Strong, CEO of Adare SEC, also commented: “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.”

Opus Trust Communications had acquired Adare SEC in 2021 and rebranded to take its name the following year.

Adare SEC’s former chairman Peter De Haan, who has owned the company since 2000, will be retiring following the sale.

De Haan said: “We are immensely proud of all we have achieved under the Adare SEC banner, and we knew that the sale of the company had to be to a business with the same expertise, ambition and deep respect for the industry.

“Mail Metrics is a perfect fit, and the growth to date of the business showcases the talent of Nick and the team. I want to thank Tony Strong and all Adare SEC colleagues across our Huddersfield, Leicester and Glasgow sites for their incredible work in driving the company forward, and I wish the new venture every success.”

According to filings at Companies House, the group (Opus Trust Marketing Limited trading as Adare SEC) recorded revenue for continued operations of £124.8m for the year ended 31 March 2024 (2023: £114.1m). During that financial year, it disposed of the Kalamazoo business.