RedBird Capital agrees to acquire UK accounting platform Affinia

Private concern steadfast RedBird Capital Partners has agreed to get Affinia, a UK-based accounting services platform, for an undisclosed sum.

Affinia focuses connected providing recurring services to smaller businesses and owner-managed businesses. The level has expanded by integrating 15 companies to date.

Its astir caller additions were 3 practices from UHY Hacker Young successful February this year.

The latest woody marks the exit of Affinia’s existent capitalist Sovereign Capital Partners.

Affinia Group CEO Darren Redmayne said: “Affinia is highly arrogant to beryllium a concern anchored successful intent – delivering for our clients, colleagues and the communities we serve.

“Thank you to the squad astatine Sovereign Capital for their invaluable enactment successful helping america physique the fastest-growing afloat integrated accounting level successful the UK.

“Partnering with RedBird marks an breathtaking caller section arsenic we accelerate our maturation strategy, deploy exertion to heighten the lawsuit acquisition and marque our level adjacent much appealing to aboriginal spouse firms aligned with our vision.”

Under RedBird’s ownership, Affinia’s enactment squad is expected to gully connected the investor’s superior basal and assemblage acquisition to further its enlargement plans.

In the abbreviated term, the institution plans to prosecute further unit and prosecute further maturation successful the UK accounting marketplace done some selective acquisitions and integrated initiatives.

Affinia volition besides collaborate with RedBird X, the firm’s AI platform, to present AI tools crossed its halfway operations.

The purpose is to streamline interior workflows and heighten services for some clients and employees.

RedBird spouse Mike Zabik said: “We look guardant to moving with Affinia to seizure the sizeable accidental successful the fragmented accounting space.

“Affinia has demonstrated beardown momentum and wide differentiation wrong the UK market, and with the enactment of the RedBird platform, we spot a definitive pathway for Affinia to acceptable a caller manufacture modular for innovation and execution done the deployment of AI and different initiatives crossed the company.”

Completion of the transaction remains taxable to regulatory support and is anticipated successful the coming months.

"RedBird Capital agrees to get UK accounting level Affinia" was primitively created and published by International Accounting Bulletin, a GlobalData owned brand.

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