19 May 2020

Paragon Group acquires OfficeTeam and ZenOffice*

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Paragon Group, the leading provider of customer communications, identification, graphics and business services, is pleased to announce the acquisition of OfficeTeam and ZenOffice*. The acquisition of ZenOffice* requires approval by the UK FCA. OfficeTeam and ZenOffice* are the leading providers in the UK of Workplace Solutions and Business Services. The purchase of these businesses will further strengthen Paragon’s business services capabilities. The OfficeTeam Companies within Paragon will continue to be led by CEO Steve Horne.

OfficeTeam is a leading provider of business services and workplace solutions with a customer base of blue chip companies. They enable customers to work smarter and achieve more through providing a consolidated range of tailored, dynamic and expert business solutions, delivered with 100% service excellence. Working in partnership with their customers and suppliers, their mission is to optimize costs and improve efficiency through innovative technology and tailored solutions.

ZenOffice* provide their SME customers with a wide range of managed solutions, including managed print services (MPS), mail & fulfilment, signage & exhibition, workwear & PPE and business interiors. They are a trusted partner for SMEs, going beyond office supplies to provide customers a range of business solutions all from one place.

Sean Shine, CEO of the Paragon Group, said: “We are delighted to welcome OfficeTeam and ZenOffice* to the Paragon Group, adding their expertise to our growing range of Workplace Solutions and Business Services. Paragon continues to assess markets to ensure we align our service offering with our customer demands and this acquisition addresses existing customer requirements. Operationally and financially, Paragon is a strong, disciplined and ambitious company and prides itself on being customer focused. Together, we deliver the future of Workplace Solutions and Business Services. The acquisitions underline Paragon Group’s ongoing commitment to being the marketleading service provider for businesses in the UK.”

Steve Horne, CEO of OfficeTeam said: “Growing to meet the changing needs of our customers have always been our key priority, therefore becoming part of Paragon Group is an exciting opportunity for the business and for our customers, as we will now be able to provide even greater supplier consolidation and operational cost optimization at a time when our customers need it most.

The OfficeTeam capabilities and solutions complement well with the Paragon Group, themacquisition enables us to move at pace to accelerate our strategic roadmap and bring newinnovation for our customers. We look forward to sharing these exciting developments withmour customers in the coming weeks and months.”

*Paragon have agreed to acquire the shares of ZenOffice subject to the approval of the Financial Conduct Authority

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