ARX Equity Partners (ARX), a Central European lower-mid market private equity specialist, has completed the majority acquisition of Hungarian professional services company Klient Holding Kft, which is part of the WTS global network.
Klient Group was originally founded in 1998 by Gyorgy Korosi and Zoltan Lambert, as an outsourcing accounting and payroll services provider. Klient Group currently generates sales in the region of ~€5 million 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 have not been disclosed. 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.
For this transaction, ARX agreed to partner with the company´s existing strong management team who will continue to lead the future growth and development of the Company. ARX has also named former KPMG Hungary Managing Partner, Robert Stollinger, as Non-Executive Chairman of the Board. Other board members include former-KPMG alumni such as Bela Lendvai-Lintner and Zoltan Lambert, who will continue to lead the Klient Group.
