Mail Metrics acquires Adare SEC, boosts UK market presence

Mail Metrics has announced the acquisition of Adare SEC, marking their fourth acquisition in four years and significantly expanding their presence in the UK market.

Irish technology business Mail Metrics, known for providing customer communications solutions, has acquired UK communication management firm Adare SEC. This strategic buyout is expected to elevate Mail Metrics' standing within the UK, swelling their employee numbers from 150 to 600, while boosting projected revenues to GBP £175 million (EUR €210 million).

MML Growth Capital Partners Ireland has invested a considerable sum into Mail Metrics for a minority stake, a move backed by Bank of Ireland and AIB. This financial backing underscores the confidence in Mail Metrics' capacity for growth and scalability.

Mail Metrics assists large enterprises in managing customer communication and engagement, especially in regulated sectors. This acquisition complements Adare SEC's services, which include managing both digital and physical communications for clients in similar regulated industries, such as the public sector.

Nick Keegan, Group CEO UK & Ireland at Mail Metrics, described the day as a significant milestone, stating, "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."

Keegan further expressed gratitude towards their financial supporters: "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." He also acknowledged the advisory role of Clearwater, stating, "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, expressed optimism about the acquisition's potential, commenting, "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, shared his enthusiasm, saying, "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."

Former Chairman of Adare SEC, Peter De Haan, who has owned the company since 2000, will retire following the transaction. He stated, "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."

This acquisition follows Mail Metrics' strategic growth pattern, having previously acquired companies such as Persona (Ireland) and Forth Communications (UK) in 2021, and Dafil (Ireland) in 2023.