Inflexion reaps 3.5x on Optionis exit

Inflexion had backed the £24m buyout of Optionis (then Parasol) in 2006. The deal saw several private investors exit and was supported by £12m of debt provided by HSBC, with Inflexion investing £9.4m in exchange for a majority stake, according to unquote" data. Management held the balance of the shares.

With Inflexion's backing, the company went on to acquire ClearSky. Other bolt-ons subsequently took place – all were funded via the company's own cash reserves. According to Inflexion, the business saw its profits treble between 2006 and 2013. Headcount rose from 5,500 to more than 12,000.

MML most recently acquired a stake in Tournus Equipement, a French manufacturer and distributor of stainless steel equipment for professional kitchens, from Qualium Investissement as part of a secondary management buyout in September 2013. Still in France, the GP also sold its stake in Groupe Carré Blanc to Nixen Partners, BPI France and Crédit Agricole Régions Investissement in October last year.

Company
Established in 2000, Optionis is the parent brand of support services companies Parasol, ClearSky and Silverline. Parasol provides tax and billing payroll to flexible employees, whose services are contracted to end-clients. ClearSky meanwhile provides a range of accounting services for SMEs. Silverline is a web-based data solution designed to improve the performance and profitability of businesses.

At the time of Inflexion's original investment, Parasol posted a £228m turnover.

People
Catherine Richards and Andrew Mainwaring led the sale for Inflexion.

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• Topics
• UK / Ireland
• Buyouts
• Exits
• Support services
• United Kingdom
• Inflexion Private Equity
• MML Capital Partners
• Secondary buyout