Member Article

Optionis seeks further growth after secondary buy-out

Warrington-based Optionis, which provides support services to small businesses, recruitment firms and freelancers, is eyeing further growth in the SME space after securing a landmark investment deal.

The secondary buyout (SBO) has been backed by MML Capital Partners. It enables the Optionis management team, led by chief executive Rob Crossland, to increase its stake in the business to 50%.

Clients, employees and other stakeholders are being reassured that it will be a case of business as usual for all companies within the Optionis group following the investment.

The deal provides an exit for private equity firm Inflexion, which backed an original management buyout in 2006.

MML, which has offices in London, New York and Paris, is a leading independent investment firm with more than $2bn invested across 12 countries during the last 25 years.

The Optionis group is home to employment services provider Parasol, small business and contractor support specialist ClearSky and cloud-based sales performance management software Silverline.

Optionis employs around 250 head office staff across sites in Warrington, Greater Manchester, London, Poole and Dorchester. That number is expected to reach 350 by March 2016.

Group turnover for the current financial year is forecast to be £335m.

Parasol provides outsourced employment solutions to recruitment firms including Hays, Adecco, Alexander Mann Solutions, Capita Resourcing and LA International. As the UK’s largest professional employment organisation (PEO), Parasol recently employed its 70,000th career contractor.

ClearSky Accounting is the UK’s 87th largest accountancy firm. Fee income for the year from April 2012 – March 2013 was up 42.7% on the previous 12 months.

This was posted in Bdaily's Members' News section by Simon Malia .