Private investment firm RedBird Capital Partners has agreed to acquire Affinia, a UK-based accounting services platform, for an undisclosed sum.
Affinia focuses on providing recurring services to smaller businesses and owner-managed businesses. The platform has expanded by integrating 15 companies to date.
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Its most recent additions were three practices from UHY Hacker Young in February this year.
The latest deal marks the exit of Affinia’s current investor Sovereign Capital Partners.
Affinia Group CEO Darren Redmayne said: “Affinia is extremely proud to be a business anchored in purpose – delivering for our clients, colleagues and the communities we serve.
“Thank you to the team at Sovereign Capital for their invaluable support in helping us build the fastest-growing fully integrated accounting platform in the UK.
“Partnering with RedBird marks an exciting new chapter as we accelerate our growth strategy, deploy technology to enhance the client experience and make our platform even more appealing to future partner firms aligned with our vision.”
Under RedBird’s ownership, Affinia’s leadership team is expected to draw on the investor’s capital base and sector experience to further its expansion plans.
In the short term, the company plans to hire additional staff and pursue further growth in the UK accounting market through both selective acquisitions and organic initiatives.
Affinia will also collaborate with RedBird X, the firm’s AI platform, to introduce AI tools across its core operations.
The aim is to streamline internal workflows and enhance services for both clients and employees.
RedBird partner Mike Zabik said: “We look forward to working with Affinia to capture the considerable opportunity in the fragmented accounting space.
“Affinia has demonstrated strong momentum and clear differentiation within the UK market, and with the support of the RedBird platform, we see a definitive pathway for Affinia to set a new industry standard for innovation and execution through the deployment of AI and other initiatives across the company.”
Completion of the transaction remains subject to regulatory approval and is anticipated in the coming months.
