OC&C advises Hg on IRIS and Access Group acquisitions
May 30, 2018 | NEWS
UK's largest ever software deal
OC&C Strategy Consultants is pleased to congratulate Hg on the recent transactions of both IRIS and Access Group. OC&C supported Hg in assessing both of these assets and their commercial outlook, leveraging our unparalleled expertise in business-critical & vertical sector software.
IRIS is the leading provider of specialist software and services to the UK accountancy and payroll sectors. The business has been acquired by Hg Saturn Fund & ICG. The deal represents the UK’s largest ever, and Europe’s third largest ever, private equity led software buyout, representing an enterprise valuation of around £1.3bn.
Access Group is a diversified enterprise software provider covering Finance and HR management solutions, plus vertical sector software spanning hospitality through to professional services sectors. Hg acquired a minority stake from TA Associates, giving the company a total EV of c.£1bn.
The transactions of IRIS & Access Group are the latest installment of OC&C’s continuing track record of advisory work in landmark software deals in Europe. Last year it advised on the sale of Visma, Europe’s largest ever software deal with an EV of c.£4bn.
For more details on this transaction or OC&C's broader experience in this space, please contact:
Colin Tyler, Partner
Ewan Parry, Partner