Loughborough-based software firm Access Group has reached a valuation of £9.2 billion after receiving £1 billion investment from its shareholders, Hg and TA Associates. The new development makes the firm one of the largest UK-headquartered software providers.
In addition to the strategic investment from Hg and TA Associates, GIC, a global institutional investor, has also become a minority shareholder. The deal is slated to close in the second half of 2022. The deal will allow the company to pursue its expansion plans in Europe and the Asia Pacific region.
Founded in 1991, the company offers business management software to mid-market organisations in the U.K., Ireland and Asia Pacific. Since 2020, Access has more than doubled in size driven by double-digit organic growth, combined with strategic mergers and acquisitions in the U.K., Ireland and Asia Pacific. Growing its customer base to more than 60,000 and now employing 5,000 people in nine countries, it has surely come a long way.
Chief executive Chris Bayne said: “With the additional investment, Access will continue to pursue its performance and growth plans. We look forward to expanding and continuing our relationship with all three of our investors as we carry on with organic and acquisitive growth projects and further geographic expansion.”