Hg-backed Iris bolts on Innervision

The acquisition is the fourth made by Iris so far in 2019. Under Hg's ownership, Iris is currently following a buy-and-build strategy in both international markets and its domestic market. It most recently acquired Tenzing's FMP Global in August.

Previously a portfolio company of Hg 6, Iris is now owned by Hg Saturn Fund, which closed on £1.5bn in October 2018. The company is also backed by Intermediate Capital Group's ICG Europe Fund VII, which writes equity tickets of €60-600m.

Hg declined to comment.

Company
Innervision is a provider of lease accounting software and acts as a lease management consultancy. Based in London and founded in 1992, the company employs more than 100 people, according to LinkedIn. The company has a user base in 100 countries and counts Addison Lee, Bibby Distribution, Capgemini and Travis Perkins as clients.

People
Iris Software Group – Kevin Dady (executive chairman).
Innervision – Martin Kennard (director).

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• Topics
• Portfolio management
• UK / Ireland
• Technology
• Build-up
• Buy-and-build
• United Kingdom
• HgCapital
• Intermediate Capital Group