Unifiedpost enters UK market with the acquisition of Prime Document
La Hulpe, Manchester, 2 December 2019 - Leading European FinTech firm, Unifiedpost Group, has established its presence in the UK market for the first time following its acquisition of Prime Document Ltd., a Manchester-based provider of multi-channel, transactional, document processing services.
The purchase forms part of the Brussels headquartered firm’s ambitious buy and build strategy, through which it aims to consolidate its position as the leading e-invoicing solutions provider in Europe’s key markets. It follows a spate of acquisitions on the continent between November 2018 and April 2019, which included Baltics-based Fitek Group in March this year.
Founded in 1999, Prime Document employs a staff of 25 and specialises in printing, postage and digital transactional document processing and distribution. More specifically, it can process transactional data and convert it into records such as invoices, pay slips, tax records and statements. The current client base includes pension administration companies, building societies, car leasing companies and debt management firms. It has so far reported a turnover of £ 6 million in 2019 (fiscal year ends March 31).
With this acquisition, Prime Document will now operate under the “Unifiedpost UK” name, with the Manchester premises becoming Unifiedpost Group’s UK main office. It will also see Unifiedpost Group handle nearly 400 million corporate documents on an annual basis, mostly invoices. The group’s annual proforma turnover will attain ca. € 70 million (*).