Spark Financial Holdings ("Spark") acted as the exclusive financial advisor to Oremus Corporate Services and its Shareholders on its acquisition, by Fornax.
We are pleased to announce the 100% sale of Oremus Corporate Services, a provider of an extensive range of F&A BPM services with presence in the United States, United Kingdom and India to Fornax.
Founded in 2002, Oremus is a fast-growing, tech-first F&A transformation and BPM company with over 250 resources, providing full range of Finance, Accounting, Taxation & Regulatory Outsourcing Services. Oremus is well-known for its expertise in F&A outsourcing & implementing digital-first tech-enabled tools into traditional processes.
Fornax, backed by Carpediem Capital, is a digitally driven Business Services/BPM platform that started operations in 2022. Fornax offers a wide range of services to its 100+ customers through its 30,000+ employees, including Staff Augmentation, IT staffing/services, Gig Workforce, Engineering Services, BPM and others.
Raj Rayaprolu, Suresh Gupta, Padmanabhan Balasubramanian, Co-Founders & Directors of Oremus Corporate Services said, "This milestone marks a significant achievement for Oremus and is a testament to the hard work, dedication, and innovation of our team over the years. The decision to partner with Fornax aligns with our vision of continued growth and leveraging the synergies that come with being part of a digitally driven business services platform. Spark Capital and their seasoned technology investment banking leadership, with their deep understanding of the space, has been instrumental in finding us the right strategic partner in Fornax."
Vijay Radhakrishnan, Senior Managing Director & Practice Head Technology & Business Services, Spark Financial Holdings, said, "We have worked closely with the Oremus team to structure a deal that maximizes value for all stakeholders involved. Oremus has built a strong reputation in the F&A outsourcing space, and we believe that the acquisition by Fornax will open exciting new growth opportunities for both companies. The integration of Oremus into Fornax's diverse and rapidly growing platform marks an important step in their continued success in the global business services industry."
This deal solidifies Spark's prominent standing within the Tech & Business Services sector, further enhancing its industry-leading performance. Over the past 3 years alone, Spark has successfully executed 18 cross border deals, totaling USD 2.5+ billion, boasting a 100% transaction closure rate.
Spark operates on a philosophy of selective-but-strong conviction and takes only limited annual mandates with an aim to deliver the "best partner at the best value" representing its client first deal making approach.