Barclays Private Equity has invested E5.5m in Lasercom Group, a European systems integrator which specialises in customer communications.
The private equity firm will take a 20 per cent stake in the business, valuing it at E28m. Simon Henderson, who led the investment for Barclays Private Equity, said: “CEOs of large customer facing organisations are beginning to recognise the cost differential between acquiring a new customer and retaining an existing one. Effective customer communication can have a dramatic result on customer service perception, leading to improved customer retention.”
The cash will be used to develop integration services and accelerate the company’s expansion into new European markets. The company also plans to increase its staff to 150 by the year end, twice the current number.
Lasercom was established in 1991 in Geneva and has developed a significant marketshare in the areas of customer communications, CRM, document production and electronic delivery. Its customer base includes AXA Group, Barclays Plc, BNP Paribas, Crédit Lyonnais, Deutsche Bank, France Telecom and HSBC. In 2000 Lasercom’s revenue grew by 70 per cent and achieved turnover in excess of E10m.
The company was founded by Georges Tsitos, its managing director. It has offices in the UK, Switzerland, France, Spain, Italy, Norway, Sweden and Australia.