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.
The businesses will continue to operate under their respective brands within the Optionis Group structure, receiving the investment and support to further develop their offering.