The business processing outsourcing firm Parseq has completed the sale of its fundraising agencies Pell & Bales and Pure Fundraising.
A spokeswoman for Parseq confirmed that the sale was completed on 3 June to a holding company called Pure 2016, which was registered with Companies House last month.
Scott Priestnall, a director of Armstrong Group, an investment firm specialising in turnaround and growth investment in the leisure and entertainment and property management sectors, became the sole director of Pell & Bales on the day the sale completed, according to records on the Companies House website.
Priestnall also became the sole director of three other companies previously owned by Parseq on the same day: the data business Supporter Insight, the telemarketing agency Spokenfor and the holding company Panther Financial Management.
In addition to Pure 2016 Ltd, another holding company, Pure Fundraising, was registered last month by Gerald Hoare, a partner at Parabellum, the investment firm that created Parseq through the merger in 2010 of the outsourcing business Documetric and the business software firm Intelligent Environments Group.
Hoare is also the sole director of Pure 2016.
A spokeswoman for Pell & Bales told Third Sector: "Pell & Bales and the Pure division has been sold to a newly established group, consisting of a small team of professionals who have taken this opportunity to fulfil their own philanthropic interests. They will use their experience from the commercial sector to work alongside the existing management team."
She reiterated claims made last month by Tony Strong, chief executive of Parseq, that the businesses’ clients had indicated a preference for working with "boutique" telephone fundraising agencies rather than with corporations and said they would now be refocused towards their "core ethical approach".
"The focus is now to re-evaluate the core values and offerings of both Pell & Bales and Pure," she added.
She declined to disclose the value of the sale or give any further information.
A spokeswoman for Parseq also declined to comment further and Priestnall could not be reached for comment.