Adare Group acquires Polestar Applied Solutions
Endless Investment, Adare Group, has acquired Nottinghamshire-based business-critical mailing services company Polestar Applied Solutions (PAS) for an undisclosed sum.
PAS will become part of Adare SEC, Adare’s Secure and Essential Communications business and will trade immediately under the Adare brand.
The addition of PAS’s £15m annual revenues takes Adare to the brink of the quarter-billion turnover milestone, while also reinforcing Adare SEC’s leadership position in the data-driven, technology-led essential communications market.
Based in Annesley, Nottinghamshire, PAS’s core services include multichannel solutions and transactional, business critical, regulatory, and direct mail. Previously part of the Polestar Group - though completely separate from those parts of the organisation that recently went into administration - PAS is a well-established, profitable business with a strong client base, very committed employees and an impressive array of independent accreditations.
The addition of PAS’s Annesley facility extends Adare's multi-site capabilities and will further enhance its disaster recovery infrastructure. Adare plans to invest significantly in new technology at the site and also anticipates growth in staff numbers locally.
The PAS deal comes just two months after Adare’s acquisition of one of the major players in the business marketing and essential communication services market - £60m-turnover Banner Managed Communication (BMC).
Adare Chief Executive Officer, Robert Whiteside, said: “This deal delivers a further boost to our capabilities and scale and, coming hot on the heels of the BMC acquisition, maintains the strong momentum of our ambitious growth strategy.
“It is often said that good things come to those who wait and PAS is a case in point. This is a business we’ve admired for many years and, with the continued support of Endless and HSBC, we now have the investment firepower to make strategically-important deals like this happen.
"PAS is a thoroughly professional outfit with a strong, loyal client base. They’re renowned for the strength of their technology solutions and for having been a true pioneer within the transactional and direct mail services sector.
"It’s a testament to the quality and resilience of PAS that it has been able to weather the recent storm within its parent group. The deal means we’ll have the benefit of one of the most experienced and talented business-critical communications teams around. The team will be a perfect fit within Adare SEC and we’re excited about the opportunity to provide them with the long-term investment and core strategic focus they merit."
Darren Forshaw of Endless, commented: "Adare has now executed two major deals in the space of just a couple of months, and it’s a measure of the focus and energy of Robert and his team that they’re already eyeing further acquisition targets. Endless looks forward to continuing to back their ambitious growth agenda.”