Options announces $100m investment
Written by Chris Lemmon
Cloud-enabled managed services firm Options has secured nearly $100 million of investment from New York-based private equity firm Bregal Sagemount.
The funds will enable the firm to pursue strategic growth initiatives, invest further in platform innovations and expand its reach in key global financial centres.
Options has enjoyed a period of rapid growth in recent years. In the US alone, the firm’s revenues have more than doubled from 2014 to 2016.
In the same period, the firm has grown its staff from 110 to close to 200 and established a presence in London, New York, Belfast, Hong Kong, Singapore, Toronto, Dublin, Geneva, and the Caribbean. Bregal Sagemount’s investment will enable the management team to invest in the people and technology required to scale the business, while ensuring the ability to deliver multifaceted IT solutions and a customer centric engagement and support model is maintained.
Nigel Kneafsey, CEO of Options, said: “We are delighted to be working with Bregal Sagemount. Their investment in Options is an endorsement of the team, services, and technology we have built over the last 25 years. We believe that the rapid growth in the business in the last few years is underpinned by the accelerated wave of outsourcing in Financial Services IT globally. Sagemount is the perfect partner to support our mission to become a global power in this high growth sector.”
Gene Yoon, managing director at Bregal Sagemount, added: “We are thrilled to partner with Nigel, Danny, and the rest of the team at Options to support the Company’s next phase of growth. The impressive success that Options has experienced over the past several years pays testament to the quality of the platform and the organization as a whole. We look forward to working closely with the Options team as we continue to expand our service delivery capabilities, develop additional offerings, and build a world-class organization in support of our customers.”