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UK – Management buyout at Parasol

07 January 2014

The parent company of outsourced employment provider Parasol, has reassured its recruitment industry partners that they can expect ‘business as usual’ following a secondary buyout (SBO). In January 2012, it was reported that private equity firm Inflexion, which backed a £24 million management buyout in 2006, was looking to sell its stake in the company.

As a result of the SBO, the management team of parent company Optionis, led by Chief Executive Rob Crossland, has increased its stake in the business to 50%.

Managing Director Derek Kelly emphasised that clients would not notice any difference in their day-to-day dealings with Parasol from an operational and transactional perspective.

He said: “I would like to reassure our existing clients and partners across all businesses within the group that they will see no changes to our service, ethos, or pricing structure as a result of this deal. The investment is designed to support our growth plans in the SME space; pure and simple.”

Parasol provides outsourced employment solutions to recruitment firms including Hays, Adecco, Alexander Mann Solutions, Capita Resourcing, and LA International.

The investment, backed by private equity firm MML Capital Partners, comes as Optionis looks to establish its ClearSky Business brand as a ‘one-stop shop’ for SMEs seeking fixed-fee support and advice on business functions; including accountancy, human resources, employment law, tax, and payroll.

Mr Crossland added: “As a management team we are excited to be re-investing in, and emphasising our commitment to, the group. MML is a world-class investment firm, with a track record of partnering with thriving companies and supporting their growth ambitions. We are delighted to be teaming up with them.” 

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