BC invests in Vista-backed Advanced Computer Software

[Editor's note: BC Partners is an investor in Acuris, the parent company of Unquote]

Financial details of the transaction remain undisclosed, though the Financial Times reported that BC has acquired a 50% stake in a deal valued at around £2bn including debt. The GP is currently investing from BC European Capital X, which closed in January 2018 on its €7bn target.

According to a statement, Vista and the company's management team will both retain stakes in the business.

Since Vista first backed the company four years ago, Advanced has made six bolt-on acquisitions and increased its global headcount by 900. The group intends to continue pursuing international expansion following the deal, with a view to making further bolt-on acquisitions.

Previous funding
Vista acquired Advanced in a £725m take-private in 2014. The deal valued the business at 16x the EBITDA figure reported in its preceding financial year.

Company
Founded in 1983 and headquartered in Cobham, Advanced provides proprietary and third-party software for use in human resources, financial management and business management. It has private and public sector clients including British Gas, Virgin Atlantic, PRS for Music, Highways England, Aspire Furniture and the NHS. The business has a headcount of 2,350.

People
BC Partners – Nikos Stathopoulos, Philipp Schwalber (partners).
Vista Equity Partners – Robert F Smith (founder, chairperson, CEO).
Advanced Computer Software Group – Gordon Wilson (CEO).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• BC Partners
• Vista Equity Partners
• Secondary buyout