ARX Equity Partners (“ARX”), a Central European lower-mid market private equity specialist, today announces the completion of the majority acquisition of Hungarian professional services company Klient Holding Kft, which is part of the WTS global network (“Klient Group”).
Klient Group is a Budapest based professional services firm providing outsourced accounting, payroll and tax services. Klient Group currently generates sales in the region of ~€ 5million with more than 120 employees, and is now a Top 10 accounting, payroll and tax services provider in Hungary, predominantly servicing local subsidiaries of large multinational companies.
The financial terms of the deal agreement were not disclosed. ARX acquired the company from its founders and ARX agreed to partner with the company´s existing management team who will lead the future growth and development of the Company. Klient Group will use the capital invested by ARX to drive long-term growth initiatives, which include accelerating the development of its suite of service offerings, considerable investment into talent and technology and strategically expanding via organic growth and targeted mergers and acquisitions.