The UK arm of listed Belgian group, Banqup, has completed a management buyout of the business.
Based in Whitefield, Unifiedpost specialises in digitising and automating the distribution of business documents and communications, as well as print postal services.
Managing director, Mark Hetem, has acquired the £6m turnover UK arms of the business for an undisclosed sum. He said they now intended to expand its services across the UK and Europe.
As part of the transaction, a strategic partnership agreement has been signed so the UK print business will become an authorised reseller of Banqup products.
“I am excited to lead this business into its next chapter. Having worked closely with the team and our customers, I understand the value we provide in the UK market,” said Mark Hetem, Managing Director and new owner of Unifiedpost UK.
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“The partnership with Banqup will allow us to offer our clients both traditional print services and modern e-invoicing solutions, positioning us for the evolving needs of UK businesses as they embrace digital transformation.”
Banqup, formerly Unifiedpost Group SA, a provider of integrated business communications solutions, explained that the sale of the print business alined to its “strategic priority to rationalise the portfolio through the divestment of non-core, traditional communication services.”
“The divestment of the UK print business marks continued progress in our transformation into a pure-play SaaS provider and further sharpens our focus on scaling core digital services,” said Nicolas de Beco, CEO of Banqup Group.
“We are pleased that Mark Hetem, who has successfully managed our UK print operations, will continue to lead the business. I want to thank our UK team for their valuable contribution to our company over the years. The partnership agreement ensures that we maintain a presence in the UK market while focusing our resources on growing our digital services in key European markets.”
The deal was supported by FRP Corporate Finance.
