TA Associates acquires Access from Lyceum

Following completion of the deal, which reportedly values Access at more than £225m, the business will look to continue the acquisitive growth strategy adopted under Lyceum.

The software company has made 12 acquisitions since 2011. It bolted on cloud hosting business StratoGen and Production Modelling, a provider of planning and scheduling software, in 2014.

Previous funding
Lyceum acquired Access for £50m in March 2011 with capital drawn from Lyceum Capital Partners Fund II.

Company
Headquartered in Colchester and founded in 1991, Access provides business software for finance, human resources, warehousing, CRM and supply chain management. The business has a headcount of 750 across its 16 offices and a client roster of around 6,000.

Under Lyceum's tenure the business has doubled its turnover to £60m, with the business stating its EBITDA had also increased threefold.

People
TA Associates managing director Ajit Nedungadi and director J. Morgan Seigler will take a seat on the board at Access. Lyceum industrial partners Gareth Denley and David England had seats on the board at Access. Chris Bayne is CEO of the business.

Advisers
Equity – William Blair (Corporate finance); Travers Smith, Paul Dolman, Kathleen Russ, Genevieve McDermott, Stephanie Young (Legal); PwC (Tax).
Vendor – Debevoise & Plimpton (Legal); Harris Williams & Co (Corporate finance).
Management – Travers Smith, Ian Shawyer (Legal).

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• Topics
• Exits
• UK / Ireland
• Technology
• Buyouts
• United Kingdom
• TA Associates
• Horizon Capital (formerly Lyceum Capital)
• Secondary buyout