Cleardata acquired by SPS

Document management specialist Cleardata has a “strong platform for continued success” following the agreement of its acquisition by leading technology-driven business transformation company SPS.

In a transaction advised by KBS Corporate Finance, led by Dave Gardner (Managing Director), Annie Pritchard (Associate Director) and Mya Bhatt (Manager), Cleardata joins forces with Zurich-headquartered SPS, which takes a further step in its growth strategy.

Cleardata specialises in archive storage, document scanning, document management, digital mailroom and automated document processing services.

The Blyth, Northumberland-based company has invested in the latest digitisation, mailroom and AI-driven document processing technologies to deliver outsourced services and solutions which help UK businesses go paperless, improve efficiency and reduce operating costs.     

“As an SME we’ve built a strong reputation in the document management sector, providing bulk scanning, archiving, mailroom and document processing services with a high degree of quality and reliability,” said David Bryce, Cleardata’s CEO.

“I’m so proud of what our business has achieved, which wouldn’t have been possible without the hard work and dedication of our Cleardata team.

“I believe SPS is a great fit for our business, with both a similar culture and values. Their scale, investment capacity and long-term outlook provide a strong platform for Cleardata’s continued success, while preserving what our customers and employees value most about the business.”

The strategic partnership strengthens SPS’s information management and business process service proposition, enhancing its ability to design, manage and optimise end-to-end information-driven workflows.

SPS operates in more than 20 countries, has over 8,000 employees and focuses on clients in banking, insurance and health.

“This acquisition reflects our continued confidence in the UK market and our commitment to investing in capabilities that matter to customers,” commented Gary Harrold, SPS’s UK&I CEO.

“Cleardata is a high-quality business with strong expertise, great employees and trusted customer relationships.

“Together, we strengthen our proposition and expand our ability to design, manage and optimise end-to-end information and business processes across both physical and digital environments.”

The acquisition is subject to customary completion conditions. No immediate changes are planned for Cleardata’s employees, customers or partners.  

Annie Pritchard, KBS Corporate Finance Associate Director, was delighted with the outcome of the transaction.

“It’s been an absolute pleasure working alongside David Bryce and the shareholders of Cleardata throughout this process,” commented Annie. “We strongly believe Cleardata will be an excellent addition to SPS, driven by shared values and significant potential for market growth. We wish both parties every success for the future.”