Jun 7, 2023 - 03:40pm

Jefferies and Arma kick off sale of Options IT

Reporting by Francesca Ricciardi and Thomas Williams

Information memoranda (IMs) are out for the sale of Options IT, also known as Options Technology, TMT Finance understands. The company is an Abry Partners-backed, UK colocation and managed services provider, focused on the financial services sector.

Sources said IMs for the company have been out since at least a couple of weeks ago, adding that first-round bids are expected to come in mid-June.

TMT Finance exclusively reported in March 2023 that Abry Partners had mandated Jefferies and Arma Partners to run the transaction.

Sources previously told TMT Finance that Options IT posted an EBITDA of £68m to £70m (US$84.5m to US$87m) in 2022, with one source saying the company is targeting an EBITDA of at least £78m by the end of 2023.

London-based Options is a provider of IT infrastructure as well as low-latency connectivity and access to real-time market data feeds to global capital market firms.

Abry Partners acquired the company in 2020 from Bregal Sagemount, which had previously invested US$100m in Options IT in 2017.

Under Abry’s ownership, the company has gone on to acquire US front-office trading services company Fixnetix from DXC Technology [NYSE: DXC], and multi-asset financial market data provider ACTIV Financial in 2021.

In May 2023, Options IT announced the opening of a new office in Paris to serve as a hub for its operations in European markets. The company also has offices in London, New York, Toronto, Chicago, Belfast, Hong Kong, Singapore, and New Zealand.

Arma declined to comment. Abry Partners and Jefferies did not respond to requests for comment.

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