London, April 10, 2018 – Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the strategic investment in The Access Group, one of the UK’s leading providers of business management software to mid-market companies, from Hg alongside existing investor, TA Associates (TA), at an enterprise value of approximately £1 billion. Harris Williams & Co. served as the advisor to The Access Group’s Management.
“Chris and the team from The Access Group have continued to deliver exceptional growth with a focus on providing mission-critical solutions to their highly loyal and growing customer base,” said Thierry Monjauze, a managing director in Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group. “They have delivered strong organic growth, made 11 acquisitions, entered three new verticals and expanded to more than 12,700 UK customers. With the sector expertise and resources of both Hg and TA, we look forward to even greater things from Chris and the rest of the team.”
The Access Group is a leading provider of fully integrated business management software targeting UK mid-market organisations. It provides a suite of industry-specific software applications for Hospitality, Recruitment, Health & Social Care, Manufacturing & Distribution, Education and Not-for-Profit sectors, underpinned with horizontal software applications for Finance, HR and Payroll solutions. The Access Group is one of the top five fastest growing UK software developers. More than 12,700 UK businesses and not-for-profit organisations rely on the products and services provided by The Access Group to improve their performance, profitability and drive growth. A continued focus on creating leading-edge software and a commitment to excellence for customers and employees has also placed the company among the UK’s top technology employers.
Hg is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established position within a niche, and which have the potential to grow faster than their market, create employment and become the leader in their industry. Hg’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions. Hg invests in expanding segments of the TMT, Services and Industrials sectors across Western Europe. Based in London and Munich, Hg manages c. £9 billion for some of the world’s leading institutional and private investors.
TA is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilising its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968, and is investing out of current funds of $7.25 billion. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS, Internet & Digital Media and IT Services’ segments, with particular emphasis on specific verticals including education, energy technology, fintech, membership management, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group‘ssection of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
For media inquiries, please contact Katie Langemeier, associate brand manager, at +1 (804) 648-0072.
Source: Harris Williams & Co.