Hg and Intermediate Capital Group (ICG) have invested in the £1.3bn buyout of UK-based accountancy and operational software business Iris Software Group from Hg's 2008-vintage sixth flagship fund.
GP also announced the refinancing of online gardening retailer YouGardem, scoring a 60% cost return
CDP Venture and Tim Ventures take part in the round, alongside Club Digital and Club Italia Investimenti 2
Deal is the second from Bid Equity II, which held a close in November 2019 and targets B2B software
Early-stage investor Italian Angels for Growth and Swiss holding company Brahma also take part in the round