The Access Group, a London, UK-based provider of fully integrated business management software to UK mid-market organisations, received a strategic investment valuing the business at an enterprise value of approximately £1 billion.
Hg made the investment as current majority shareholder TA Associates will retain joint control of The Access Group.
Led by Chris Bayne, CEO, The Access Group is a vendor of mission-critical business software to mid-market organisations in the UK with a portfolio spanning Finance, HR, Payroll, Hospitality, Recruitment, Heath & Social Care, Manufacturing & Distribution, Education and Not for Profit sectors.
Since TA Associates invested in the business in January 2015, the business has had organic growth, executed 11 acquisitions, entered three new vertical markets and grown its customer base to more than 12,700 UK businesses and not-for-profit organizations.
The funds will support the company in its next phase of growth.