Sovereign to exit Affinia, one of the UK’s fastest growing accounting groups

Sovereign Capital Partners, the lower mid-market private equity Buy & Build specialist, is to realise its investment in Affinia, a leading UK provider of accounting, tax and business advisory services, through a sale to RedBird Capital Partners, subject to FCA approval. This is the second exit from Sovereign’s fifth fund in less than a month following the sale of Knovia Group in March.

Sovereign backed the off-market management buyout of LB Group in May 2023, when it identified a rare opportunity to build a scaled, fully integrated national accountancy platform in a large and structurally attractive market.

A central pillar of the investment strategy was building a leadership team capable of scaling the business at pace, and an entire C-suite management team was recruited to complement the client-facing, practitioner management team backed at investment. Darren Redmayne was appointed as CEO, alongside Chief Financial Officer Robert Parker, Chief People & Operations Officer Vanessa Emens and Chief Corporate Development Officer Rob Harden, supported by Non-Executive Chairman Martin Wassell and Non-Executive Director Richard Smith. Together, this team brought the leadership depth, operational capability and M&A expertise required to execute the company’s ambitious growth strategy.

The business was rebranded to Affinia in November 2024 to reflect its growing national identity. Over the three-year holding period, Affinia expanded into a national provider with more than 1,000 professionals across 19 offices, completing 16 bolt-on acquisitions and broadening its capabilities across tax, audit, insolvency and wealth management. A significant milestone was the combination with the Brighton, London and Nottingham offices of UHY Hacker Young in January 2026, which created a Top 25 UK accountancy firm with revenues exceeding £100m.

Throughout, organic revenue growth of approximately 15% per annum was maintained, driven by a consistent track record of accelerating growth in acquired businesses through cross-selling services to their existing client bases, alongside the realisation of cost synergies. Sovereign also supported significant operational enhancements across the group, including investment in technology infrastructure and the strengthening of governance and financial reporting frameworks.

Today, Affinia is recognised as one of the UK’s most progressive accountancy firms, with a diversified service offering, a strong national footprint and a collaborative, integrated operating model.

Alex Hay, Partner, Sovereign Capital Partners, said: "It has been a pleasure to work alongside Darren and the team on what has been an extraordinary journey. Together, we have grown Affinia from a highly respected regional firm into a national business with a strong culture, deep client relationships and a genuine sense of shared purpose. This outcome reflects the dedication of the entire Affinia team, and we are incredibly proud of what has been achieved."

Darren Redmayne, CEO, Affinia, 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."

Dominic Dalli, Managing Partner, Sovereign Capital Partners, said: "The sale of Affinia is an outstanding outcome and a powerful demonstration of our Buy & Build strategy in action. In just three years, Darren and the team have transformed a strong regional practice into one of the UK’s most respected national accountancy firms, a remarkable achievement by any measure. This is the second exit for our fifth fund, and we remain proud of the consistent value we continue to deliver for our investors and portfolio companies alike. We wish everyone at Affinia every success in their next chapter."