Access UK, a provider of business management and accounting software, has received a £50m investment from Lyceum Capital.
Lyceum Capital, which acquired the stakes previously held by founder Alistair O’Reilly and a number of other shareholders, has invested alongside Access’ existing management, led by CEO Chris Bayne.
The company intends to use the proceeds from the investment to execute its expansion plan focused on rapid organic growth and the acquisition of complementary solutions. The strategy will also focus on continuing product development, including the advancement of software as a service (SaaS) capabilities.
In conjunction with the transaction, Lyceum Capital’s Jeremy Hand and Phillip Buscombe have joined
the board of Access. The company also added Gareth Denley as Charmain.
Established in 1991, Access is a software, solutions and consultancy house that provides a full range of enterprise resource planning (ERP) software and services, with a particular focus on financial management systems (FMS) and human capital management (HCM) solutions. It serves a 5,000-strong mid-market client base spread across a broad range of sectors and includes Topps Tiles, National Museum of Science and Industry, Sue Ryder Care, Sacla’ and Birmingham International Airport.
The company has nine offices across the UK and Ireland and employs over 300 people.