10 Jan 2017 | 10:54 am |
International law firm Pinsent Masons has advised Sovereign Capital, the UK private equity Buy & Build specialist on the combination of Optionis, the largest employee solutions operator in the UK, with its portfolio company Arkarius Group. Arkarius Group is the UK's largest group providing accounting services to the flexible workforce.
The combined Group, which will operate under the Optionis brand, has c. 40,000 clients and is four times larger than any other competitor in the UK but still with less than 10% combined market share. The Group will address all channels to market and enable a more diversified service offering across its national network of offices.
The Pinsent Masons team was led by corporate partner Tom Leman, assisted by Joshua Willis, Adam Seymour and Anais Spacey.
The Sovereign deal team comprised of Jeremy Morgan, Peter Shaw, Rob King and Oliver Hedley-Whyte.
Jeremy Morgan, Partner, Sovereign Capital commented, “We are delighted to be bringing together these two market leading groups which will enhance the growth opportunity of the underlying businesses in this highly fragmented market. This is a first class management team with a strong track record in the market and we look forward to working with them as the enhanced Group develops.”
Tom Leman, Partner at Pinsent Masons added, "We came in to the process late-on and had to play catch-up. As well as negotiate the acquisition we had to structure and carry out a pre sale reorganisation and refinance the existing group. It was great to help Arkarius achieve an important step in its strategic growth story and build on Pinsent Masons' longstanding relationship with Sovereign Capital."
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