Optionis, a £300m-turnover professional services group, has joined forces with private equity-backed Arkarius Group, the UK's largest provider of accounting services to the flexible workforce formed two years ago through a £100m deal.
The combined group will operate under the Optionis brand, with approximately 40,000 clients, and provide a more diversified service offering across its national network of offices. The Arkarius Group is backed by Sovereign Capital while Optionis is backed by MML Capital Partners following a secondary buyout deal in 2014 that provided an exit for Inflexion.
Derek Kelly, Optionis founder and group managing director, said: "Bringing these two groups together will produce a player of exceptional scale and capability in the market ensuring that contractors and agencies experience an unparalleled level of service. I am extremely proud and excited to be leading the combined group."
Sovereign originally backed the simultaneous investments of Hemel Hempstead-headquartered SJD Accountancy and Blackpool-based Nixon Williams in a deal worth £100m to create the Arkarius Group in 2014 and since then the group has delivered strong organic growth.
Founded in 2000, Warrington-headquartered Optionis provides accounting, payroll, tax and professional employment services to the flexible workforce through a multi-brand strategy which includes ClearSky Contractor Accounting, Parasol, ClearSky Business and Brian Alfred.
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