Sovereign Capital Partners launches new challenger accounting brand

LB Group, Sovereign Capital Partners’ chartered accountancy portfolio business, has completed its sixth acquisition and launched Affinia, a new corporate brand. 

Having invested in LB Group in May 2023, the private equity firm has worked closely with the management team on an “extensive” buy and build programme over the past 18 months to create “a new challenger in the accounting, tax and business advisory sector”. 

The group expects its new accounting service to be ranked among the top 50 accounting firms in the UK by revenue.

Affinia now consists of LB Group, as well as a number of first from across the east and south east of England, including Richard Edwards Group in Essex; Dyer & Co in Kent; Giess Wallis Crisp in Essex; NSO Associates in Essex; Baxter & Co in Kent; Clarkson Hyde in Sutton.

The new group has more than 7,000 clients, and more than 400 colleagues across nine regional offices in Colchester, Chelmsford, Halstead, Harlow, Ipswich, Orpington, Sidcup, Stratford and Sutton.

Sovereign has also lined up Affinia’s leadership team, which consists of CEO Darren Redmayne, COO Vanessa Emens, CFO Rob Harden, and head of the accounts service line, Chris Annis. 

Alex Hay, partner at Sovereign Capital Partners, said: “As a new challenger in the sector, Affinia is well-positioned to deliver high-quality, client-focused services across the east and south east of England and beyond. Affinia will set new standards for the industry and create significant value for clients and communities alike.”

Darren Redmayne, CEO of Affinia, added: “We are excited to be building Affinia as the leading client-friendly, accounting, tax and business advisory firm. Combining great service quality, trusted financial expertise and the power of technology, we are committed to delivering the best results for our clients. 

“We look forward to joining with further colleagues, prospective clients and like-minded firms that share our vision for the future.”