RedBird Capital Partners said on 20 April 2026 that it had reached an agreement "to partner with management to acquire" Affinia, a UK accounting services group, in a deal that marks the exit of Sovereign Capital Partners, according to RedBird’s press release. Sovereign said the next day that the sale was subject to approval by the Financial Conduct Authority.
| Date | Target | Buyer / backer | Sector | Type | Stake disclosed | Source |
|---|---|---|---|---|---|---|
| 20 April 2026 (agreement announced) | Affinia | RedBird Capital Partners, with management; seller Sovereign Capital Partners | Accountancy | Acquisition; Affinia passes from one private investor to another | Not disclosed | RedBird Capital Partners; Sovereign Capital Partners |
The buyer
RedBird describes itself as a private investment firm founded in 2014 by Gerry Cardinale, managing $14bn in assets, with three core sectors: sports, media and entertainment, and financial services. It presents Affinia as an expansion of its financial services portfolio. Its release says Affinia will work with RedBird X, which it calls its proprietary artificial intelligence platform, on the use of AI tools in the business.
The release lists the advisers. RedBird was advised by Lincoln International on debt, Kirkland & Ellis on legal matters and Deloitte on financial and tax matters. Affinia and Sovereign used Ardea Partners, BCG, KPMG, Alvarez & Marsal, Proskauer and DWF; management used DWF and Jamieson.
The seller’s three years
Sovereign backed the management buyout of LB Group, Affinia’s founding firm, in May 2023. By April 2026, according to Sovereign, the group had more than 1,000 professionals across 19 offices. Its largest step was the combination with three UHY Hacker Young offices announced in February 2026 (our note on that deal).
For Sovereign, the sale was the second exit from its fifth fund in less than a month, after the sale of Knovia Group in March 2026. Kirkland & Ellis confirmed its role for RedBird in a note dated 22 April 2026, describing Affinia as "a fully integrated UK-based accounting services platform".
Four counts of the same acquisitions
The parties do not agree on how many firms Affinia has bought.
| Statement | Date | Count as given |
|---|---|---|
| Sovereign, UHY announcement | 4 February 2026 | 14 additions since 2023, counting the three UHY offices |
| RedBird, press release | 20 April 2026 | 15 firms integrated to date |
| Sovereign, exit statement | 21 April 2026 | 16 bolt-on acquisitions |
| Sovereign, portfolio page | not dated | 17 strategic acquisitions since 2023 in the text; 16 in the “The growth story” panel on the same page |
The difference may come from whether the three UHY offices count as one deal or three, and from deals signed but not yet completed; none of the statements explains its count. Sovereign’s portfolio page gives two counts itself, 16 and 17, without saying why. We record all of them and adopt none.
Completion
Sovereign’s portfolio page says that "In June 2026, Affinia was acquired by RedBird Capital Partners". No completion statement from RedBird and no FCA approval is cited, so the deal is dated by its announcement.
What was not disclosed
- the price, which International Accounting Bulletin also reported as undisclosed;
- how much of the equity management holds alongside RedBird;
- how the purchase was financed, beyond the fact that RedBird took advice on debt;
- which Affinia entity required FCA approval.
Sources
- RedBird Capital Partners, "RedBird Capital Partners Acquires UK-Based Accounting Services Platform Affinia", 20 April 2026 (PDF): redbirdcap.com
- Sovereign Capital Partners, "Sovereign to exit Affinia, one of the UK’s fastest growing accounting groups", 21 April 2026: sovereigncapital.co.uk
- Sovereign Capital Partners, portfolio page for Affinia: sovereigncapital.co.uk
- Sovereign Capital Partners, "Affinia to combine with three UHY Hacker Young offices to create Top 25 UK accounting firm", 4 February 2026: sovereigncapital.co.uk
- Kirkland & Ellis, "Kirkland Advises RedBird Capital Partners on Acquisition of Affinia", 22 April 2026: kirkland.com
- International Accounting Bulletin, "RedBird Capital agrees to acquire UK accounting platform Affinia", 21 April 2026: internationalaccountingbulletin.com
Related reading: Affinia: who owns it, what it has bought.
